GCC: Monoethanolamine Market 2024

Monoethanolamine Market Size in GCC

The GCC monoethanolamine market soared to $X in 2021, growing by 268% against the previous year. Overall, consumption posted a buoyant expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Monoethanolamine Production in GCC

In value terms, monoethanolamine production surged to $X in 2021 estimated in export price. Over the period under review, production recorded a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 329%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Monoethanolamine Exports

Exports in GCC

In 2021, overseas shipments of monoethanolamine and its salts decreased by -6.6% to X tons, falling for the second year in a row after three years of growth. In general, exports, however, showed a significant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 272% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, monoethanolamine exports skyrocketed to $X in 2021. Over the period under review, exports, however, posted significant growth. The growth pace was the most rapid in 2017 with an increase of 234%. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia dominates exports structure, reaching X tons, which was near 96% of total exports in 2021. The United Arab Emirates (X tons) followed a long way behind the leaders.

Saudi Arabia was also the fastest-growing in terms of the monoethanolamine and its salts exports, with a CAGR of +36.8% from 2012 to 2021. At the same time, the United Arab Emirates (+9.9%) displayed positive paces of growth. While the share of Saudi Arabia (+18 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of the United Arab Emirates (-18.3 p.p.) displayed negative dynamics.

In value terms, Saudi Arabia ($X) remains the largest monoethanolamine supplier in GCC, comprising 96% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 4.3% share of total exports.

In Saudi Arabia, monoethanolamine exports expanded at an average annual rate of +35.2% over the period from 2012-2021.

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, rising by 29% against the previous year. In general, the export price, however, saw a perceptible decline. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (-1.2%).

Monoethanolamine Imports

Imports in GCC

In 2021, supplies from abroad of monoethanolamine and its salts decreased by -0.3% to X tons, falling for the third year in a row after two years of growth. Overall, imports, however, posted a temperate expansion. The pace of growth appeared the most rapid in 2018 with an increase of 95%. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, monoethanolamine imports surged to $X in 2021. Over the period under review, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 117% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

The United Arab Emirates dominates imports structure, resulting at X tons, which was approx. 83% of total imports in 2021. Oman (X tons) held a 6.4% share (based on physical terms) of total imports, which put it in second place, followed by Qatar (5.1%). Kuwait (X tons) and Bahrain (X tons) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the monoethanolamine and its salts imports, with a CAGR of +26.3% from 2012 to 2021. At the same time, Oman (+16.5%) and Bahrain (+1.2%) displayed positive paces of growth. By contrast, Qatar (-4.1%) and Kuwait (-9.4%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+70 p.p.) and Oman (+4.2 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Qatar (-4.7 p.p.) and Kuwait (-8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported monoethanolamine and its salts in GCC, comprising 81% of total imports. The second position in the ranking was taken by Oman ($X), with a 6.8% share of total imports. It was followed by Qatar, with a 6.4% share.

In the United Arab Emirates, monoethanolamine imports increased at an average annual rate of +26.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Oman (+13.5% per year) and Qatar (-3.8% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2021, with an increase of 37% against the previous year. Overall, the import price, however, continues to indicate a pronounced curtailment. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Qatar (+0.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform