GCC: Lead Market 2024

Lead Market Size in GCC

In 2022, after three years of decline, there was growth in the GCC lead market, when its value increased by 3.4% to $X. In general, consumption, however, continues to indicate a pronounced descent. The level of consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Lead Production in GCC

In value terms, lead production shrank modestly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a strong increase. The growth pace was the most rapid in 2016 with an increase of 49% against the previous year. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Lead Exports

Exports in GCC

In 2022, the amount of lead exported in GCC dropped to X tons, which is down by -13.9% on 2021. Total exports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +19.3% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 39%. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, lead exports shrank sharply to $X in 2022. Total exports indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +29.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 60% against the previous year. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates was the key exporting country with an export of around X tons, which recorded 59% of total exports. It was distantly followed by Saudi Arabia (X tons), making up a 38% share of total exports. Oman (X tons) took a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for Oman (with a CAGR of +36.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Oman ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 99% share of total exports.

In terms of the main exporting countries, Oman, with a CAGR of +35.7%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, shrinking by -5.6% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the export price increased by 26%. Over the period under review, the export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+0.0%), while the other leaders experienced mixed trends in the export price figures.

Lead Imports

Imports in GCC

Lead imports dropped to X tons in 2022, which is down by -8.8% compared with 2021. In general, imports recorded a noticeable slump. The pace of growth was the most pronounced in 2015 when imports increased by 68%. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, lead imports contracted to $X in 2022. Overall, imports recorded a perceptible curtailment. The most prominent rate of growth was recorded in 2015 with an increase of 44%. The level of import peaked at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

The United Arab Emirates represented the major importer of lead in GCC, with the volume of imports recording X tons, which was approx. 69% of total imports in 2022. It was distantly followed by Oman (X tons), making up a 28% share of total imports. Qatar (X tons) followed a long way behind the leaders.

Imports into the United Arab Emirates increased at an average annual rate of +2.6% from 2012 to 2022. At the same time, Qatar (+74.4%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of +74.4% from 2012-2022. Oman experienced a relatively flat trend pattern. From 2012 to 2022, the share of the United Arab Emirates, Oman and Qatar increased by +32, +7.5 and +2.8 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported lead in GCC, comprising 70% of total imports. The second position in the ranking was held by Oman ($X), with a 26% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates was relatively modest. In the other countries, the average annual rates were as follows: Oman (-1.1% per year) and Qatar (+63.8% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, which is down by -2.9% against the previous year. In general, the import price saw a slight setback. The most prominent rate of growth was recorded in 2018 when the import price increased by 17% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, 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 Oman (-0.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform