GCC: Isocyanates Market 2024

Isocyanates Market Size in GCC

The GCC isocyanates market shrank significantly to $X in 2022, with a decrease of X% against the previous year. The total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2021, and then declined notably in the following year.

Isocyanates Production in GCC

In value terms, isocyanates production declined slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 with an increase of X%. The level of production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Isocyanates Exports

Exports in GCC

In 2022, the amount of isocyanates exported in GCC surged to X tons, rising by X% compared with 2021 figures. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, isocyanates exports surged to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, Saudi Arabia (X tons) was the major exporter of isocyanates, constituting X% of total exports. It was distantly followed by the United Arab Emirates (X tons), comprising a X% share of total exports.

Saudi Arabia experienced a relatively flat trend pattern with regard to volume of exports of isocyanates. At the same time, the United Arab Emirates (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2022. The United Arab Emirates (X p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Saudi Arabia ($X) remains the largest isocyanates supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports.

In Saudi Arabia, isocyanates exports decreased by an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, with a decrease of X% against the previous year. Overall, the export price saw a slight decrease. The growth pace was the most rapid in 2021 an increase of X%. The level of export peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%).

Isocyanates Imports

Imports in GCC

Isocyanates imports soared to X tons in 2022, jumping by X% against the previous year. Overall, imports saw a relatively flat trend pattern. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, isocyanates imports soared to $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

The United Arab Emirates dominates imports structure, finishing at X tons, which was near X% of total imports in 2022. Oman (X tons), Kuwait (X tons) and Qatar (X tons) held a minor share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the isocyanates imports, with a CAGR of X% from 2012 to 2022. At the same time, Kuwait (X%) displayed positive paces of growth. Oman experienced a relatively flat trend pattern. By contrast, Qatar (X%) illustrated a downward trend over the same period. The United Arab Emirates (X p.p.) significantly strengthened its position in terms of the total imports, while Qatar saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported isocyanates in GCC, comprising X% of total imports. The second position in the ranking was held by Kuwait ($X), with a X% share of total imports. It was followed by Oman, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates stood at X%. In the other countries, the average annual rates were as follows: Kuwait (X% per year) and Oman (X% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, growing by X% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2018 to 2022, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Qatar ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform