GCC: Sodium Phosphates Market 2024

Sodium Phosphates Market Size in GCC

The GCC sodium phosphates market shrank to $X in 2021, waning by -11.9% against the previous year. In general, consumption showed a abrupt downturn. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Sodium Phosphates Production in GCC

In value terms, sodium phosphates production dropped to $X in 2021 estimated in export price. The total production indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +37.3% against 2018 indices. The growth pace was the most rapid in 2020 with an increase of 26% against the previous year. As a result, production attained the peak level of $X, and then dropped in the following year.

Sodium Phosphates Exports

Exports in GCC

After two years of decline, shipments abroad of phosphates of mono- or di-sodium increased by 1,595% to X tons in 2021. Overall, exports recorded a strong expansion. The volume of export peaked at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, sodium phosphates exports skyrocketed to $X in 2021. Over the period under review, exports recorded a resilient increase. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Saudi Arabia represented the main exporter of phosphates of mono- or di-sodium in GCC, with the volume of exports amounting to X tons, which was approx. 57% of total exports in 2021. It was distantly followed by the United Arab Emirates (X tons) and Kuwait (X tons), together mixing up a 43% share of total exports.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +21.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest sodium phosphates supplying countries in GCC were Saudi Arabia ($X), the United Arab Emirates ($X) and Kuwait ($X).

The United Arab Emirates, with a CAGR of +19.3%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in GCC amounted to $X per ton, with a decrease of -34.1% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 646%. As a result, the export price reached the peak level of $X per ton, and then dropped markedly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, 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 Kuwait (+15.1%), while the other leaders experienced a decline in the export price figures.

Sodium Phosphates Imports

Imports in GCC

In 2021, sodium phosphates imports in GCC declined to X tons, with a decrease of -14.1% on the year before. In general, imports saw a drastic downturn. The most prominent rate of growth was recorded in 2020 when imports increased by 27%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, sodium phosphates imports totaled $X in 2021. Overall, imports showed a abrupt curtailment. The growth pace was the most rapid in 2020 with an increase of 17% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Bahrain represented the main importer of phosphates of mono- or di-sodium in GCC, with the volume of imports reaching X tons, which was near 65% of total imports in 2021. It was distantly followed by the United Arab Emirates (X tons), committing a 30% share of total imports. Qatar (X tons) took a minor share of total imports.

Imports into Bahrain decreased at an average annual rate of -4.4% from 2012 to 2021. At the same time, the United Arab Emirates (+12.9%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in GCC, with a CAGR of +12.9% from 2012-2021. By contrast, Qatar (-26.1%) illustrated a downward trend over the same period. Bahrain (+48 p.p.) and the United Arab Emirates (+29 p.p.) significantly strengthened its position in terms of the total imports, while Qatar saw its share reduced by -5.5% from 2012 to 2021, respectively.

In value terms, the largest sodium phosphates importing markets in GCC were Bahrain ($X), the United Arab Emirates ($X) and Qatar ($X), together comprising 98% of total imports.

Among the main importing countries, the United Arab Emirates, with a CAGR of +13.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2021, the import price in GCC amounted to $X per ton, growing by 26% against the previous year. Import price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +9.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 an increase of 82% against the previous year. Over the period under review, import prices attained the peak figure in 2021 and is likely to see gradual growth in years to come.

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 2021, the most notable rate of growth in terms of prices was attained by Bahrain (+2.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform