GCC: Cyclic Hydrocarbons Market 2024

Cyclic Hydrocarbons Market Size in GCC

The GCC cyclic hydrocarbons market fell markedly to $X in 2021, reducing by -28.4% against the previous year. Over the period under review, consumption showed a drastic downturn. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Cyclic Hydrocarbons Production in GCC

In value terms, cyclic hydrocarbons production reduced remarkably to $X in 2021 estimated in export price. Over the period under review, production, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2014 with an increase of 159% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Cyclic Hydrocarbons Exports

Exports in GCC

In 2021, overseas shipments of other cyclic hydrocarbons were finally on the rise to reach X tons for the first time since 2016, thus ending a four-year declining trend. In general, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 220%. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, cyclic hydrocarbons exports skyrocketed to $X in 2021. Overall, exports recorded a buoyant increase. The pace of growth appeared the most rapid in 2016 with an increase of 187% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Saudi Arabia represented the largest exporter of other cyclic hydrocarbons in GCC, with the volume of exports amounting to X tons, which was approx. 65% of total exports in 2021. It was distantly followed by the United Arab Emirates (X tons), committing a 35% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Saudi Arabia (with a CAGR of +40.7%).

In value terms, Saudi Arabia ($X) and the United Arab Emirates ($X) were the countries with the highest levels of exports in 2021.

Among the main exporting countries, Saudi Arabia, with a CAGR of +30.2%, recorded the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, waning by -36.4% against the previous year. Overall, the export price recorded a abrupt curtailment. The growth pace was the most rapid in 2020 when the export price increased by 61% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

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 Saudi Arabia stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-4.2%).

Cyclic Hydrocarbons Imports

Imports in GCC

Cyclic hydrocarbons imports surged to X tons in 2021, with an increase of 103% on the previous year's figure. Over the period under review, imports, however, recorded a deep setback. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, cyclic hydrocarbons imports soared to $X in 2021. Overall, imports, however, continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2019 when imports increased by 42%. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Saudi Arabia (X tons) and the United Arab Emirates (X tons) dominates imports structure, together comprising 94% of total imports. It was distantly followed by Kuwait (X tons), comprising a 4.8% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by the United Arab Emirates (with a CAGR of +31.0%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest cyclic hydrocarbons importing markets in GCC were Saudi Arabia ($X), the United Arab Emirates ($X) and Kuwait ($X), together comprising 96% of total imports.

The United Arab Emirates, with a CAGR of +17.3%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in GCC amounted to $X per ton, shrinking by -31.7% against the previous year. Import price indicated a moderate increase from 2012 to 2021: its price increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 an increase of 47%. Over the period under review, import prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: 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 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+3.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform