GCC: Lime Market 2024

Lime Market Size in GCC

The GCC lime market declined rapidly to $X in 2021, which is down by -26.2% against the previous year. Overall, consumption saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Lime Production in GCC

In value terms, lime production stood at $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 17%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Lime Exports

Exports in GCC

In 2021, lime exports in GCC soared to X tons, rising by 26% on the previous year. In general, exports posted a strong expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 42% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, lime exports surged to $X in 2021. Over the period under review, exports posted a strong expansion. The pace of growth was the most pronounced in 2016 when exports increased by 65%. The level of export peaked in 2021 and is likely to see gradual growth in the near future.

Exports by Country

In 2021, the United Arab Emirates (X tons) and Oman (X tons) represented the largest exporters of lime in GCC, together comprising 85% of total exports. It was distantly followed by Saudi Arabia (X tons), mixing up a 15% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Oman (with a CAGR of +31.2%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Oman ($X) and Saudi Arabia ($X) constituted the countries with the highest levels of exports in 2021, together comprising 100% of total exports.

In terms of the main exporting countries, Oman, with a CAGR of +28.6%, 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

The export price in GCC stood at $X per ton in 2021, falling by -2.9% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 17% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Oman ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+0.6%), while the other leaders experienced a decline in the export price figures.

Lime Imports

Imports in GCC

In 2021, approx. X tons of lime were imported in GCC; rising by 11% compared with the previous year's figure. In general, imports enjoyed a strong increase. The pace of growth appeared the most rapid in 2014 with an increase of 59% against the previous year. The volume of import peaked in 2021 and is likely to continue growth in years to come.

In value terms, lime imports shrank modestly to $X in 2021. Over the period under review, imports saw a prominent expansion. The growth pace was the most rapid in 2013 when imports increased by 48% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Oman (X tons) represented the major importer of lime, mixing up 63% of total imports. It was distantly followed by Bahrain (X tons), achieving a 30% share of total imports. The United Arab Emirates (X tons), Qatar (X tons) and Kuwait (X tons) took a minor share of total imports.

Oman was also the fastest-growing in terms of the lime imports, with a CAGR of +49.3% from 2012 to 2021. At the same time, Bahrain (+23.6%), Qatar (+1.4%) and Kuwait (+1.1%) displayed positive paces of growth. By contrast, the United Arab Emirates (-14.2%) illustrated a downward trend over the same period. Oman (+55 p.p.) and Bahrain (+11 p.p.) significantly strengthened its position in terms of the total imports, while Kuwait, Qatar and the United Arab Emirates saw its share reduced by -6.1%, -7.1% and -43.6% from 2012 to 2021, respectively.

In value terms, the largest lime importing markets in GCC were Oman ($X), Bahrain ($X) and the United Arab Emirates ($X), with a combined 92% share of total imports.

Among the main importing countries, Oman, with a CAGR of +40.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in GCC amounted to $X per ton, dropping by -10.1% against the previous year. Overall, the import price saw a perceptible decline. The pace of growth was the most pronounced in 2016 an increase of 29%. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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 the United Arab Emirates ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Qatar (+16.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform