GCC: Market for Other Synthetic Organic Colouring Matters 2024

Market Size for Other Synthetic Organic Colouring Matters in GCC

For the sixth year in a row, the GCC synthetic organic colouring matters market recorded growth in sales value, which increased by 4.4% to $X in 2022. In general, consumption, however, recorded resilient growth. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Production of Other Synthetic Organic Colouring Matters in GCC

In value terms, synthetic organic colouring matters production totaled $X in 2022 estimated in export price. Overall, production posted a prominent expansion. The pace of growth appeared the most rapid in 2015 when the production volume increased by 90%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Other Synthetic Organic Colouring Matters

Exports in GCC

For the fifth consecutive year, GCC recorded decline in shipments abroad of other synthetic organic colouring matters, which decreased by -25.8% to X tons in 2022. Over the period under review, exports saw a abrupt slump. The pace of growth appeared the most rapid in 2013 with an increase of 24%. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, synthetic organic colouring matters exports contracted markedly to $X in 2022. Overall, exports showed a abrupt decrease. The pace of growth appeared the most rapid in 2013 with an increase of 27%. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Saudi Arabia represented the major exporting country with an export of about X tons, which resulted at 54% of total exports. The United Arab Emirates (X tons) took the second position in the ranking, distantly followed by Kuwait (X tons). All these countries together took approx. 42% share of total exports. Oman (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Kuwait (with a CAGR of +24.6%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Kuwait ($X) appeared to be the countries with the highest levels of exports in 2022, together accounting for 95% of total exports.

Kuwait, with a CAGR of +23.7%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, with a decrease of -1.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.3%. The pace of growth was the most pronounced in 2018 when the export price increased by 15% against the previous year. The level of export peaked at $X per ton in 2019; however, from 2020 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 (+6.9%), while the other leaders experienced more modest paces of growth.

Imports of Other Synthetic Organic Colouring Matters

Imports in GCC

In 2022, imports of other synthetic organic colouring matters in GCC reduced sharply to X tons, with a decrease of -17.1% compared with the year before. Overall, imports showed a pronounced decrease. The growth pace was the most rapid in 2014 with an increase of 27% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, synthetic organic colouring matters imports dropped notably to $X in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 24% against the previous year. As a result, imports reached the peak of $X, and then declined sharply in the following year.

Imports by Country

The United Arab Emirates prevails in imports structure, recording X tons, which was near 77% of total imports in 2022. Kuwait (X tons) ranks second in terms of the total imports with a 9.3% share, followed by Bahrain (6.5%). The following importers - Oman (X tons) and Qatar (X tons) - each resulted at a 7.4% share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the other synthetic organic colouring matters imports, with a CAGR of +7.9% from 2012 to 2022. At the same time, Kuwait (+7.8%) and Bahrain (+4.9%) displayed positive paces of growth. Qatar experienced a relatively flat trend pattern. By contrast, Oman (-3.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates, Kuwait and Bahrain increased by +47, +5.7 and +3.2 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported other synthetic organic colouring matters in GCC, comprising 86% of total imports. The second position in the ranking was held by Kuwait ($X), with a 5% share of total imports. It was followed by Oman, with a 3.5% share.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates totaled +10.7%. In the other countries, the average annual rates were as follows: Kuwait (+7.4% per year) and Oman (+2.9% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, declining by -10% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.1%. The pace of growth was the most pronounced in 2019 when the import price increased by 20%. The level of import peaked at $X per ton in 2021, and then dropped in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+6.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform