GCC: Polycarboxylic Acid Market 2024

Polycarboxylic Acid Market Size in GCC

The GCC polycarboxylic acid market dropped notably to $X in 2022, declining by -19.9% against the previous year. Overall, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then fell markedly in the following year.

Polycarboxylic Acid Production in GCC

In value terms, polycarboxylic acid production reduced to $X in 2022 estimated in export price. Over the period under review, production recorded a perceptible downturn. The most prominent rate of growth was recorded in 2015 with an increase of 349% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

Polycarboxylic Acid Exports

Exports in GCC

For the third consecutive year, GCC recorded growth in shipments abroad of polycarboxylic acids, which increased by 17% to X tons in 2022. Overall, exports continue to indicate strong growth. The most prominent rate of growth was recorded in 2020 when exports increased by 103% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in years to come.

In value terms, polycarboxylic acid exports reached $X in 2022. In general, exports continue to indicate prominent growth. The pace of growth was the most pronounced in 2020 when exports increased by 112%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United Arab Emirates prevails in exports structure, finishing at X tons, which was near 91% of total exports in 2022. It was distantly followed by Saudi Arabia (X tons), creating a 6.5% share of total exports. Oman (X tons) held a minor share of total exports.

Exports from the United Arab Emirates increased at an average annual rate of +14.4% from 2012 to 2022. At the same time, Oman (+26.8%) and Saudi Arabia (+9.3%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +26.8% from 2012-2022. From 2012 to 2022, the share of the United Arab Emirates and Oman increased by +1.9 and +1.6 percentage points, respectively.

In value terms, the United Arab Emirates ($X) remains the largest polycarboxylic acid supplier in GCC, comprising 78% of total exports. The second position in the ranking was held by Oman ($X), with a 13% share of total exports.

In the United Arab Emirates, polycarboxylic acid exports expanded at an average annual rate of +8.6% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Oman (+34.4% per year) and Saudi Arabia (+4.0% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, with a decrease of -13.9% against the previous year. Over the period under review, the export price showed a pronounced contraction. The most prominent rate of growth was recorded in 2013 an increase of 38%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the export prices remained at a somewhat lower figure.

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 Oman ($X per ton), while the United Arab Emirates ($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 (+6.0%), while the other leaders experienced a decline in the export price figures.

Polycarboxylic Acid Imports

Imports in GCC

After three years of growth, purchases abroad of polycarboxylic acids decreased by -11.9% to X tons in 2022. Total imports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +48.7% against 2018 indices. The pace of growth was the most pronounced in 2013 with an increase of 42%. The volume of import peaked at X tons in 2021, and then contracted in the following year.

In value terms, polycarboxylic acid imports dropped markedly to $X in 2022. In general, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 82%. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Oman represented the main importer of polycarboxylic acids in GCC, with the volume of imports amounting to X tons, which was approx. 59% of total imports in 2022. It was distantly followed by Saudi Arabia (X tons) and the United Arab Emirates (X tons), together achieving a 41% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Saudi Arabia (with a CAGR of +14.5%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest polycarboxylic acid importing markets in GCC were Oman ($X), Saudi Arabia ($X) and the United Arab Emirates ($X), with a combined 99% share of total imports.

In terms of the main importing countries, Saudi Arabia, with a CAGR of +7.3%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, which is down by -12.1% against the previous year. Over the period under review, the import price recorded a perceptible descent. The most prominent rate of growth was recorded in 2021 an increase of 37%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 ($X per ton), while Oman ($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 (+0.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform