GCC: Propellant Powders Market 2024

Propellant Powders Market Size in GCC

In 2021, the GCC propellant powders market decreased by -5.7% to $X, falling for the third consecutive year after two years of growth. Over the period under review, consumption, however, showed a perceptible decrease. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Propellant Powders Production in GCC

In value terms, propellant powders production rose notably to $X in 2021 estimated in export price. Overall, production, however, saw a perceptible shrinkage. The growth pace was the most rapid in 2013 with an increase of 29% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Propellant Powders Exports

Exports in GCC

In 2021, the amount of propellant powders exported in GCC skyrocketed to X tons, jumping by 20,229% against the previous year's figure. Over the period under review, exports recorded significant growth. The growth pace was the most rapid in 2018 when exports increased by 62,945%. The volume of export peaked in 2021 and is likely to see steady growth in the immediate term.

In value terms, propellant powders exports soared to $X in 2021. Overall, exports showed a significant increase. The pace of growth appeared the most rapid in 2018 when exports increased by 34,047% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The shipments of the one major exporters of propellant powders, namely Kuwait, represented more than two-thirds of total export.

Kuwait experienced a relatively flat trend pattern with regard to volume of exports of propellant powders. While the share of Kuwait (+99 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

From 2012 to 2021, the average annual rate of growth in terms of value in Kuwait was relatively modest.

Export Prices by Country

In 2021, the export price in GCC amounted to $X per ton, with a decrease of -48.9% against the previous year. Overall, the export price showed a abrupt slump. The pace of growth appeared the most rapid in 2019 when the export price increased by 128% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the export prices remained at a somewhat lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for Kuwait amounted to 0.0% per year.

Propellant Powders Imports

Imports in GCC

For the third consecutive year, GCC recorded decline in purchases abroad of propellant powders, which decreased by -44.4% to X tons in 2021. Over the period under review, imports recorded a perceptible contraction. The most prominent rate of growth was recorded in 2015 with an increase of 873% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, propellant powders imports declined significantly to $X in 2021. Overall, imports recorded a pronounced descent. The most prominent rate of growth was recorded in 2015 with an increase of 1,224% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Oman (X tons) represented the key importer of propellant powders, generating 66% of total imports. The United Arab Emirates (X tons) took the second position in the ranking, distantly followed by Bahrain (X tons). All these countries together took near 34% share of total imports.

Imports into Oman increased at an average annual rate of +45.2% from 2012 to 2021. At the same time, Bahrain (+84.9%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in GCC, with a CAGR of +84.9% from 2012-2021. By contrast, the United Arab Emirates (-16.2%) illustrated a downward trend over the same period. Oman (+64 p.p.) and Bahrain (+6.4 p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates saw its share reduced by -68.5% from 2012 to 2021, respectively.

In value terms, Oman ($X) constitutes the largest market for imported propellant powders in GCC, comprising 73% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 26% share of total imports.

In Oman, propellant powders imports expanded at an average annual rate of +41.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the United Arab Emirates (-15.4% per year) and Bahrain (+63.7% per year).

Import Prices by Country

In 2021, the import price in GCC amounted to $X per ton, increasing by 13% against the previous year. Import price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, propellant powders import price increased by +57.2% against 2018 indices. The growth pace was the most rapid in 2019 an increase of 40%. Over the period under review, import prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Oman ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+0.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform