GCC: Nucleic Acid Market 2024

Nucleic Acid Market Size in GCC

The GCC nucleic acid market declined rapidly to $X in 2022, which is down by -34.8% against the previous year. Over the period under review, consumption, however, showed a notable expansion. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Nucleic Acid Production in GCC

In value terms, nucleic acid production shrank rapidly to $X in 2022 estimated in export price. Over the period under review, production recorded a abrupt curtailment. The growth pace was the most rapid in 2016 with an increase of 66%. The level of production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Nucleic Acid Exports

Exports in GCC

In 2022, shipments abroad of nucleic acids and their salts increased by 501% to X tons, rising for the third year in a row after two years of decline. In general, exports, however, showed a relatively flat trend pattern. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, nucleic acid exports surged to $X in 2022. Overall, exports, however, showed a deep reduction. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, the United Arab Emirates (X tons) was the key exporter of nucleic acids and their salts, constituting 87% of total exports. It was distantly followed by Saudi Arabia (X tons), making up a 13% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to nucleic acid exports from the United Arab Emirates stood at -1.9%. At the same time, Saudi Arabia (+32.8%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in GCC, with a CAGR of +32.8% from 2012-2022. From 2012 to 2022, the share of Saudi Arabia increased by +13 percentage points.

In value terms, the United Arab Emirates ($X) remains the largest nucleic acid supplier in GCC, comprising 67% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 33% share of total exports.

In the United Arab Emirates, nucleic acid exports contracted by an average annual rate of -11.9% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, with a decrease of -51.5% against the previous year. Over the period under review, the export price continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2015 an increase of 250%. Over the period under review, the export prices attained the maximum at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

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 Saudi Arabia ($X per ton), while the United Arab Emirates amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (-3.4%).

Nucleic Acid Imports

Imports in GCC

In 2022, imports of nucleic acids and their salts in GCC reached X tons, increasing by 2.7% against the previous year's figure. Total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -1.9% against 2020 indices. The growth pace was the most rapid in 2020 when imports increased by 43% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, nucleic acid imports declined to $X in 2022. In general, imports saw a strong expansion. The growth pace was the most rapid in 2013 with an increase of 98%. Over the period under review, imports hit record highs at $X in 2021, and then contracted in the following year.

Imports by Country

In 2022, the United Arab Emirates (X tons) was the main importer of nucleic acids and their salts, committing 61% of total imports. Saudi Arabia (X tons) ranks second in terms of the total imports with a 26% share, followed by Qatar (5%). The following importers - Oman (X tons) and Kuwait (X tons) - together made up 7.4% of total imports.

Imports into the United Arab Emirates increased at an average annual rate of +18.9% from 2012 to 2022. At the same time, Oman (+20.6%), Kuwait (+14.5%) and Qatar (+4.6%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in GCC, with a CAGR of +20.6% from 2012-2022. By contrast, Saudi Arabia (-4.7%) illustrated a downward trend over the same period. The United Arab Emirates (+43 p.p.), Oman (+3.1 p.p.) and Kuwait (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while Saudi Arabia saw its share reduced by -46.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported nucleic acids and their salts in GCC, comprising 78% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a 14% share of total imports. It was followed by Oman, with a 3.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates amounted to +23.6%. The remaining importing countries recorded the following average annual rates of imports growth: Saudi Arabia (+2.2% per year) and Oman (+24.4% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, declining by -11.7% against the previous year. Import price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +8.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, nucleic acid import price increased by +43.4% against 2019 indices. The most prominent rate of growth was recorded in 2013 when the import price increased by 69% against the previous year. The level of import peaked at $X per ton in 2021, and then contracted in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Qatar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (+8.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform