GCC: Market for Limestone Flux, Limestone And Calcareous Stone 2024

Market Size for Limestone Flux, Limestone And Calcareous Stone in GCC

The GCC limestone flux and limestone market rose to $X in 2022, increasing by 3.7% against the previous year. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Limestone Flux, Limestone And Calcareous Stone in GCC

In value terms, limestone flux and limestone production rose modestly to $X in 2022 estimated in export price. The total production indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.8% against 2020 indices. The growth pace was the most rapid in 2016 with an increase of 41%. Over the period under review, production hit record highs at $X in 2020; afterwards, it flattened through to 2022.

Exports of Limestone Flux, Limestone And Calcareous Stone

Exports in GCC

In 2022, approx. X tons of limestone flux, limestone and calcareous stone were exported in GCC; falling by -5.1% against 2021. Over the period under review, exports, however, saw a resilient expansion. The growth pace was the most rapid in 2013 when exports increased by 66%. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, limestone flux and limestone exports dropped to $X in 2022. Overall, exports, however, continue to indicate a strong increase. The most prominent rate of growth was recorded in 2013 with an increase of 40% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then reduced in the following year.

Exports by Country

The United Arab Emirates dominates exports structure, accounting for X tons, which was near 91% of total exports in 2022. It was distantly followed by Oman (X tons), making up a 9.4% share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the limestone flux, limestone and calcareous stone exports, with a CAGR of +12.2% from 2012 to 2022. At the same time, Oman (+5.5%) displayed positive paces of growth. While the share of the United Arab Emirates (+6.6 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Oman (-6.6 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) remains the largest limestone flux and limestone supplier in GCC, comprising 84% of total exports. The second position in the ranking was taken by Oman ($X), with a 16% share of total exports.

In the United Arab Emirates, limestone flux and limestone exports increased at an average annual rate of +9.9% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, declining by -9.4% against the previous year. In general, the export price continues to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2021 an increase of 20% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Oman ($X per ton), while the United Arab Emirates amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-2.0%).

Imports of Limestone Flux, Limestone And Calcareous Stone

Imports in GCC

In 2022, purchases abroad of limestone flux, limestone and calcareous stone was finally on the rise to reach X tons after three years of decline. In general, imports, however, continue to indicate a perceptible decline. The most prominent rate of growth was recorded in 2014 when imports increased by 47% against the previous year. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, limestone flux and limestone imports surged to $X in 2022. Total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -22.4% against 2019 indices. The pace of growth was the most pronounced in 2018 when imports increased by 41% against the previous year. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Kuwait (X tons) was the major importer of limestone flux, limestone and calcareous stone, committing 77% of total imports. It was distantly followed by the United Arab Emirates (X tons) and Bahrain (X tons), together achieving a 19% share of total imports. Qatar (X tons) took a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to limestone flux and limestone imports into Kuwait stood at -5.2%. At the same time, the United Arab Emirates (+12.4%) and Bahrain (+4.1%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in GCC, with a CAGR of +12.4% from 2012-2022. By contrast, Qatar (-7.4%) illustrated a downward trend over the same period. The United Arab Emirates (+9.2 p.p.) and Bahrain (+4.2 p.p.) significantly strengthened its position in terms of the total imports, while Qatar and Kuwait saw its share reduced by -1.5% and -12% from 2012 to 2022, respectively.

In value terms, Kuwait ($X), the United Arab Emirates ($X) and Qatar ($X) were the countries with the highest levels of imports in 2022, with a combined 96% share of total imports.

The United Arab Emirates, with a CAGR of +15.8%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, with an increase of 6.7% against the previous year. Overall, the import price showed resilient growth. The most prominent rate of growth was recorded in 2020 when the import price increased by 41%. The level of import peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Qatar ($X per ton), while Bahrain ($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 (+11.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform