GCC: Fungicide And Bactericide Market 2024

Fungicide And Bactericide Market Size in GCC

In 2021, the GCC fungicide and bactericide market increased by 27% to $X, rising for the third consecutive year after two years of decline. The total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +8.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +37.8% against 2018 indices. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the near future.

Fungicide And Bactericide Production in GCC

In value terms, fungicide and bactericide production expanded notably to $X in 2021 estimated in export price. Over the period under review, production showed a notable expansion. The pace of growth appeared the most rapid in 2014 when the production volume increased by 68%. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Fungicide And Bactericide Exports

Exports in GCC

In 2021, overseas shipments of fungicides, bactericides and seed treatments increased by 91% to X tons, rising for the second year in a row after two years of decline. In general, exports posted a significant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 218%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, fungicide and bactericide exports skyrocketed to $X in 2021. Over the period under review, exports saw a strong expansion. The pace of growth appeared the most rapid in 2014 with an increase of 186%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons) and Saudi Arabia (X tons) dominates exports structure, together constituting 92% of total exports. It was distantly followed by Bahrain (X tons), constituting a 5% share of total exports. Kuwait (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Bahrain (with a CAGR of +34.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest fungicide and bactericide supplying countries in GCC were the United Arab Emirates ($X), Saudi Arabia ($X) and Bahrain ($X), together comprising 98% of total exports. These countries were followed by Kuwait, which accounted for a further 2.1%.

Kuwait, with a CAGR of +37.3%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in GCC amounted to $X per ton, declining by -38.4% against the previous year. In general, the export price showed a abrupt decline. The pace of growth was the most pronounced in 2015 an increase of 103%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+3.9%), while the other leaders experienced a decline in the export price figures.

Fungicide And Bactericide Imports

Imports in GCC

In 2021, overseas purchases of fungicides, bactericides and seed treatments increased by 55% to X tons, rising for the fourth consecutive year after two years of decline. In general, imports enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2020 with an increase of 59% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to continue growth in the near future.

In value terms, fungicide and bactericide imports skyrocketed to $X in 2021. Overall, imports enjoyed a strong expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 70% against the previous year. The level of import peaked in 2021 and is likely to see steady growth in the immediate term.

Imports by Country

The United Arab Emirates represented the main importer of fungicides, bactericides and seed treatments in GCC, with the volume of imports recording X tons, which was approx. 64% of total imports in 2021. It was distantly followed by Saudi Arabia (X tons), achieving a 31% share of total imports. Kuwait (X tons) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the fungicides, bactericides and seed treatments imports, with a CAGR of +40.2% from 2012 to 2021. At the same time, Kuwait (+11.2%) and Saudi Arabia (+8.6%) displayed positive paces of growth. While the share of the United Arab Emirates (+49 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Kuwait (-1.7 p.p.) and Saudi Arabia (-38.3 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported fungicides, bactericides and seed treatments in GCC, comprising 64% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a 23% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates totaled +32.9%. In the other countries, the average annual rates were as follows: Saudi Arabia (+2.2% per year) and Kuwait (+15.3% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2021, waning by -20.8% against the previous year. Overall, the import price recorded a noticeable contraction. The pace of growth was the most pronounced in 2016 an increase of 31% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Kuwait ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+3.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform