GCC: Platinum Catalysts Market 2024

Platinum Catalysts Market Size in GCC

The GCC platinum catalysts market shrank to $X in 2022, remaining relatively unchanged against the previous year. The market value increased at an average annual rate of +2.1% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Platinum Catalysts Production in GCC

In value terms, platinum catalysts production fell slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the production volume increased by 12%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Platinum Catalysts Exports

Exports in GCC

After two years of growth, overseas shipments of platinum catalysts decreased by -5.1% to X tons in 2022. In general, exports, however, continue to indicate a significant expansion. The growth pace was the most rapid in 2018 with an increase of 3,380%. The volume of export peaked at X tons in 2021, and then dropped in the following year.

In value terms, platinum catalysts exports skyrocketed to $X in 2022. Over the period under review, exports, however, enjoyed a significant increase. The pace of growth appeared the most rapid in 2018 with an increase of 5,494% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in years to come.

Exports by Country

Bahrain (X tons) represented roughly 99% of total exports in 2022.

Bahrain was also the fastest-growing in terms of the platinum catalysts exports, with a CAGR of +7.0% from 2012 to 2022. While the share of Bahrain (+98 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Bahrain ($X) also remains the largest platinum catalysts supplier in GCC.

From 2012 to 2022, the average annual growth rate of value in Bahrain stood at +210.7%.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, rising by 73% against the previous year. In general, the export price posted significant growth. The growth pace was the most rapid in 2015 when the export price increased by 9,884%. The level of export peaked in 2022 and is likely to see steady growth in the near future.

As there is only one major export destination, the average price level is determined by prices for Bahrain.

From 2012 to 2022, the rate of growth in terms of prices for Bahrain amounted to +190.3% per year.

Platinum Catalysts Imports

Imports in GCC

In 2022, supplies from abroad of platinum catalysts increased by 39% to X tons, rising for the third year in a row after three years of decline. Over the period under review, imports posted strong growth. The growth pace was the most rapid in 2013 with an increase of 1,203%. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, platinum catalysts imports dropped rapidly to $X in 2022. In general, imports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 15,306% against the previous year. As a result, imports reached the peak of $X, and then shrank markedly in the following year.

Imports by Country

Qatar represented the largest importer of platinum catalysts in GCC, with the volume of imports recording X tons, which was near 75% of total imports in 2022. It was distantly followed by Saudi Arabia (X kg) and the United Arab Emirates (X kg), together generating a 22% share of total imports. Kuwait (X kg) followed a long way behind the leaders.

Qatar was also the fastest-growing in terms of the platinum catalysts imports, with a CAGR of +9.8% from 2012 to 2022. Kuwait (-1.3%), the United Arab Emirates (-15.4%) and Saudi Arabia (-50.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Qatar and Saudi Arabia increased by +27 and +16 percentage points, respectively.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported platinum catalysts in GCC, comprising 98% of total imports. The second position in the ranking was held by Qatar ($X), with a 1.1% share of total imports. It was followed by the United Arab Emirates, with a 0.5% share.

In Saudi Arabia, platinum catalysts imports decreased by an average annual rate of -50.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Qatar (-1.5% per year) and the United Arab Emirates (-6.6% per year).

Import Prices by Country

The import price in GCC stood at $X per kg in 2022, with a decrease of -63.4% against the previous year. In general, the import price, however, recorded a significant increase. The most prominent rate of growth was recorded in 2021 when the import price increased by 4,836% against the previous year. As a result, import price reached the peak level of $X per kg, and then contracted sharply in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Saudi Arabia ($X per kg), while Kuwait ($X per kg) 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 (+10.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform