GCC: M-Xylene And Xylenes Market 2024

M-Xylene And Xylenes Market Size in GCC

The GCC m-xylene and xylenes market dropped remarkably to $X in 2022, reducing by -24.2% against the previous year. Over the period under review, consumption saw a abrupt descent. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

M-Xylene And Xylenes Production in GCC

In value terms, m-xylene and xylenes production expanded rapidly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a abrupt decline. The pace of growth appeared the most rapid in 2015 with an increase of 119,416,000% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

M-Xylene And Xylenes Exports

Exports in GCC

In 2022, the amount of m-xylene and mixed xylene isomers exported in GCC soared to X tons, surging by 83% compared with the previous year's figure. Overall, exports recorded significant growth. The growth pace was the most rapid in 2017 with an increase of 202%. The volume of export peaked in 2022 and is expected to retain growth in years to come.

In value terms, m-xylene and xylenes exports soared to $X in 2022. In general, exports posted a buoyant increase. The growth pace was the most rapid in 2017 with an increase of 197% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in years to come.

Exports by Country

In 2022, Oman (X tons) was the largest exporter of m-xylene and mixed xylene isomers, committing 85% of total exports. It was distantly followed by Saudi Arabia (X tons), constituting an 11% share of total exports. The United Arab Emirates (X tons) held a little share of total exports.

Oman was also the fastest-growing in terms of the m-xylene and mixed xylene isomers exports, with a CAGR of +46.0% from 2012 to 2022. At the same time, Saudi Arabia (+38.3%) displayed positive paces of growth. By contrast, the United Arab Emirates (-5.6%) illustrated a downward trend over the same period. Oman (+65 p.p.) and Saudi Arabia (+6.6 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -71.8% from 2012 to 2022, respectively.

In value terms, Oman ($X) emerged as the largest m-xylene and xylenes supplier in GCC, comprising 81% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with an 11% share of total exports.

In Oman, m-xylene and xylenes exports increased at an average annual rate of +43.4% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (-6.0% per year) and Saudi Arabia (+20.0% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, waning by -23.1% against the previous year. In general, the export price showed a abrupt descent. The most prominent rate of growth was recorded in 2021 an increase of 35%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-0.3%), while the other leaders experienced a decline in the export price figures.

M-Xylene And Xylenes Imports

Imports in GCC

In 2022, approx. X tons of m-xylene and mixed xylene isomers were imported in GCC; with a decrease of -32% compared with 2021 figures. In general, imports continue to indicate a mild contraction. The pace of growth appeared the most rapid in 2021 with an increase of 427%. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, m-xylene and xylenes imports dropped significantly to $X in 2022. Over the period under review, imports faced a deep setback. The most prominent rate of growth was recorded in 2021 when imports increased by 172% against the previous year. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates prevails in imports structure, reaching X tons, which was approx. 90% of total imports in 2022. The following importers - Kuwait (X tons) and Oman (X tons) - each finished at a 7.9% share of total imports.

The United Arab Emirates experienced a relatively flat trend pattern with regard to volume of imports of m-xylene and mixed xylene isomers. At the same time, Oman (+30.6%) and Kuwait (+17.7%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in GCC, with a CAGR of +30.6% from 2012-2022. The United Arab Emirates (+8.2 p.p.), Oman (+3.7 p.p.) and Kuwait (+3.3 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported m-xylene and mixed xylene isomers in GCC, comprising 76% of total imports. The second position in the ranking was held by Kuwait ($X), with an 8.9% share of total imports.

In the United Arab Emirates, m-xylene and xylenes imports contracted by an average annual rate of -12.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Kuwait (+13.2% per year) and Oman (+24.1% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, surging by 7.9% against the previous year. In general, the import price, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2017 when the import price increased by 50% 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.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (-3.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform