GCC: Aromatic Hydrocarbon Mixtures Market 2024

Aromatic Hydrocarbon Mixtures Market Size in GCC

The GCC aromatic hydrocarbon mixtures market reduced markedly to $X in 2022, declining by -44% against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then shrank significantly in the following year.

Aromatic Hydrocarbon Mixtures Production in GCC

In value terms, aromatic hydrocarbon mixtures production rose rapidly to $X in 2022 estimated in export price. In general, production, however, showed a abrupt decrease. The most prominent rate of growth was recorded in 2014 when the production volume increased by 40% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Aromatic Hydrocarbon Mixtures Exports

Exports in GCC

In 2022, approx. X tons of naphthalene and other aromatic hydrocarbon mixtures were exported in GCC; rising by 22% on 2021 figures. Over the period under review, exports, however, showed a abrupt decline. The most prominent rate of growth was recorded in 2020 with an increase of 94%. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, aromatic hydrocarbon mixtures exports surged to $X in 2022. Overall, exports, however, faced a abrupt downturn. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia (X tons) and Oman (X tons) represented roughly 75% of total exports in 2022. It was distantly followed by the United Arab Emirates (X tons), achieving a 21% share of total exports. Kuwait (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Oman (with a CAGR of +11.8%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Oman ($X), the United Arab Emirates ($X) and Saudi Arabia ($X) constituted the countries with the highest levels of exports in 2022, together accounting for 94% of total exports.

Among the main exporting countries, Oman, with a CAGR of +3.1%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, increasing by 7.8% against the previous year. In general, the export price, however, continues to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2021 an increase of 79% against the previous year. 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 remained at a lower figure.

Prices varied noticeably by country of origin: 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 (-0.1%), while the other leaders experienced a decline in the export price figures.

Aromatic Hydrocarbon Mixtures Imports

Imports in GCC

After two years of growth, overseas purchases of naphthalene and other aromatic hydrocarbon mixtures decreased by -55.2% to X tons in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 when imports increased by 174% against the previous year. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, aromatic hydrocarbon mixtures imports contracted markedly to $X in 2022. In general, imports saw a pronounced slump. The growth pace was the most rapid in 2021 with an increase of 101%. The level of import peaked at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

The United Arab Emirates was the major importing country with an import of about X tons, which accounted for 61% of total imports. It was distantly followed by Oman (X tons), achieving a 36% share of total imports. Kuwait (X tons) held a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Kuwait (with a CAGR of +17.1%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest aromatic hydrocarbon mixtures importing markets in GCC were the United Arab Emirates ($X), Oman ($X) and Kuwait ($X), together accounting for 99% of total imports.

In terms of the main importing countries, Kuwait, with a CAGR of +15.2%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, with a decrease of -3.4% against the previous year. In general, the import price showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2018 an increase of 32%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: 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 (-1.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform