GCC: Melamine Resins Market 2024

Melamine Resins Market Size in GCC

In 2021, the GCC melamine resins market was finally on the rise to reach $X after three years of decline. The total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Melamine Resins Production in GCC

In value terms, melamine resins production totaled $X in 2021 estimated in export price. The total production indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +7.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -11.1% against 2017 indices. The most prominent rate of growth was recorded in 2013 with an increase of 34% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Melamine Resins Exports

Exports in GCC

In 2021, shipments abroad of melamine resins in primary forms decreased by -47.9% to X tons, falling for the third year in a row after two years of growth. Over the period under review, exports continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2015 when exports increased by 270% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, melamine resins exports declined dramatically to $X in 2021. Overall, exports recorded a abrupt descent. The most prominent rate of growth was recorded in 2015 with an increase of 301% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Saudi Arabia (X tons) was the key exporter of melamine resins in primary forms, committing 68% of total exports. It was distantly followed by the United Arab Emirates (X tons), making up a 31% share of total exports.

Exports from Saudi Arabia decreased at an average annual rate of -11.3% from 2012 to 2021. The United Arab Emirates (-7.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United Arab Emirates increased by +8.5 percentage points.

In value terms, Saudi Arabia ($X) remains the largest melamine resins supplier in GCC, comprising 69% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 29% share of total exports.

In Saudi Arabia, melamine resins exports declined by an average annual rate of -8.7% over the period from 2012-2021.

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, growing by 23% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.3%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+2.9%).

Melamine Resins Imports

Imports in GCC

Melamine resins imports soared to X tons in 2021, growing by 25% on 2020. Overall, imports, however, recorded a abrupt decrease. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, melamine resins imports soared to $X in 2021. Over the period under review, imports, however, recorded a abrupt contraction. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United Arab Emirates (X tons) was the major importer of melamine resins in primary forms, achieving 74% of total imports. It was distantly followed by Oman (X tons) and Qatar (X tons), together committing a 19% share of total imports. The following importers - Bahrain (X tons) and Kuwait (X tons) - each amounted to a 7.5% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to melamine resins imports into the United Arab Emirates stood at +6.1%. At the same time, Qatar (+27.7%), Bahrain (+13.9%) and Oman (+8.7%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of +27.7% from 2012-2021. By contrast, Kuwait (-13.5%) illustrated a downward trend over the same period. The United Arab Emirates (+53 p.p.), Oman (+9.5 p.p.), Qatar (+6.2 p.p.) and Bahrain (+3.4 p.p.) significantly strengthened its position in terms of the total imports, while Kuwait saw its share reduced by -2.6% from 2012 to 2021, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported melamine resins in primary forms in GCC, comprising 75% of total imports. The second position in the ranking was held by Oman ($X), with an 11% share of total imports. It was followed by Qatar, with a 7% share.

From 2012 to 2021, the average annual growth rate of value in the United Arab Emirates totaled +6.6%. The remaining importing countries recorded the following average annual rates of imports growth: Oman (+10.4% per year) and Qatar (+22.6% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2021, jumping by 18% against the previous year. Over the last nine years, it increased at an average annual rate of +2.0%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Qatar ($X per ton) and the United Arab Emirates ($X per ton), while Oman ($X per ton) and Kuwait ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bahrain (+1.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform