GCC: Polyphenols And Phenol-Alcohols Market 2024

Polyphenols And Phenol-Alcohols Market Size in GCC

In 2022, after two years of growth, there was decline in the GCC polyphenols and phenol-alcohols market, when its value decreased by -3.7% to $X. The total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +10.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -0.0% against 2018 indices. Over the period under review, the market attained the peak level at $X in 2021, and then fell modestly in the following year.

Polyphenols And Phenol-Alcohols Production in GCC

In value terms, polyphenols and phenol-alcohols production fell rapidly to $X in 2022 estimated in export price. Overall, production showed a deep slump. The pace of growth appeared the most rapid in 2014 when the production volume increased by 444% against the previous year. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Polyphenols And Phenol-Alcohols Exports

Exports in GCC

In 2022, shipments abroad of polyphenols and phenol-alcohols decreased by -20.5% to X tons for the first time since 2016, thus ending a five-year rising trend. Overall, exports, however, recorded resilient growth. The pace of growth appeared the most rapid in 2017 when exports increased by 344% against the previous year. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, polyphenols and phenol-alcohols exports fell markedly to $X in 2022. In general, exports continue to indicate a mild downturn. The most prominent rate of growth was recorded in 2017 with an increase of 235%. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Saudi Arabia prevails in exports structure, amounting to X tons, which was approx. 97% of total exports in 2022. The United Arab Emirates (X tons) held a minor share of total exports.

Saudi Arabia was also the fastest-growing in terms of the polyphenols and phenol-alcohols exports, with a CAGR of +10.7% from 2012 to 2022. The United Arab Emirates (-18.4%) illustrated a downward trend over the same period. Saudi Arabia (+38 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -36.3% from 2012 to 2022, respectively.

In value terms, Saudi Arabia ($X) remains the largest polyphenols and phenol-alcohols supplier in GCC, comprising 91% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with an 8.9% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Saudi Arabia totaled +12.0%.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, falling by -13.9% against the previous year. Over the period under review, the export price saw a abrupt contraction. The pace of growth was the most pronounced in 2015 an increase of 198% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2016; however, from 2017 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 stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+1.2%).

Polyphenols And Phenol-Alcohols Imports

Imports in GCC

In 2022, approx. X tons of polyphenols and phenol-alcohols were imported in GCC; growing by 5.2% compared with the year before. Overall, imports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2013 when imports increased by 174% against the previous year. The volume of import peaked at X tons in 2020; afterwards, it flattened through to 2022.

In value terms, polyphenols and phenol-alcohols imports dropped slightly to $X in 2022. In general, imports continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2013 with an increase of 236% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then shrank in the following year.

Imports by Country

Saudi Arabia represented the major importing country with an import of around X tons, which resulted at 71% of total imports. It was distantly followed by the United Arab Emirates (X tons), mixing up a 27% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to polyphenols and phenol-alcohols imports into Saudi Arabia stood at +16.0%. At the same time, the United Arab Emirates (+19.4%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in GCC, with a CAGR of +19.4% from 2012-2022. The United Arab Emirates (+7.6 p.p.) and Saudi Arabia (+2.7 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) and the United Arab Emirates ($X) appeared to be the countries with the highest levels of imports in 2022.

The United Arab Emirates, with a CAGR of +20.4%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review.

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, dropping by -6.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2013 when the import price increased by 22%. Over the period under review, import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 Saudi Arabia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+2.7%).

Source: IndexBox Platform