GCC: Monophenols Market 2024

Monophenols Market Size in GCC

The GCC monophenols market expanded to $X in 2021, rising by 3% against the previous year. The market value increased at an average annual rate of +2.5% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Monophenols Production in GCC

In value terms, monophenols production fell slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.7% 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 2013 with an increase of 46%. The level of production peaked at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Monophenols Exports

Exports in GCC

For the third year in a row, GCC recorded decline in overseas shipments of monophenols, which decreased by -26.4% to X tons in 2021. Overall, exports showed a abrupt decline. The pace of growth appeared the most rapid in 2018 when exports increased by 32% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, monophenols exports declined sharply to $X in 2021. Over the period under review, exports faced a abrupt contraction. The most prominent rate of growth was recorded in 2018 with an increase of 44% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, the United Arab Emirates (X tons) was the key exporter of monophenols, constituting 82% of total exports. It was distantly followed by Saudi Arabia (X tons), comprising a 15% share of total exports. Oman (X tons) took a minor share of total exports.

The United Arab Emirates experienced a relatively flat trend pattern with regard to volume of exports of monophenols. At the same time, Oman (+69.2%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +69.2% from 2012-2021. By contrast, Saudi Arabia (-20.6%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+42 p.p.) and Oman (+1.7 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Saudi Arabia (-42.9 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) remains the largest monophenols supplier in GCC, comprising 83% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 15% share of total exports.

In the United Arab Emirates, monophenols exports plunged by an average annual rate of -7.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Saudi Arabia (-19.0% per year) and Oman (+44.3% per year).

Export Prices by Country

In 2021, the export price in GCC amounted to $X per ton, reducing by -5.4% against the previous year. Overall, the export price continues to indicate a noticeable descent. The most prominent rate of growth was recorded in 2017 an increase of 36% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, 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 Saudi Arabia (+2.0%), while the other leaders experienced a decline in the export price figures.

Monophenols Imports

Imports in GCC

In 2021, approx. X tons of monophenols were imported in GCC; increasing by 45% compared with 2020. Overall, imports, however, continue to indicate a noticeable decrease. The volume of import peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, monophenols imports skyrocketed to $X in 2021. In general, imports, however, continue to indicate a pronounced setback. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Saudi Arabia (X tons) was the major importer of monophenols, generating 71% of total imports. The United Arab Emirates (X tons) took the second position in the ranking, distantly followed by Kuwait (X tons). All these countries together held approx. 28% share of total imports.

Imports into Saudi Arabia decreased at an average annual rate of -3.3% from 2012 to 2021. The United Arab Emirates (-2.0%) and Kuwait (-2.5%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+2.4 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest monophenols importing markets in GCC were Saudi Arabia ($X), the United Arab Emirates ($X) and Kuwait ($X), together comprising 99% of total imports.

The United Arab Emirates, with a CAGR of +8.3%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in GCC stood at $X per ton in 2021, picking up by 8.8% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was the United Arab Emirates ($X per ton), while Kuwait ($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 (+10.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform