GCC: Market for Refractory Products of Siliceous or Diatomite Earths 2024

Market Size for Refractory Products of Siliceous or Diatomite Earths in GCC

The GCC market for refractory products of siliceous or diatomite earths skyrocketed to $X in 2021, increasing by 24% against the previous year. In general, consumption enjoyed notable growth. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Production of Refractory Products of Siliceous or Diatomite Earths in GCC

In value terms, production of refractory products of siliceous or diatomite earths contracted to $X in 2021 estimated in export price. In general, production saw a deep reduction. The growth pace was the most rapid in 2018 when the production volume increased by 121%. Over the period under review, production of reached the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Refractory Products of Siliceous or Diatomite Earths

Exports in GCC

In 2021, exports of refractory products of siliceous or diatomite earths in GCC skyrocketed to X tons, picking up by 20% against the year before. In general, exports continue to indicate a significant increase. The growth pace was the most rapid in 2014 when exports increased by 240% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, exports of refractory products of siliceous or diatomite earths soared to $X in 2021. Overall, exports showed a prominent expansion. The growth pace was the most rapid in 2019 with an increase of 159%. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports of failed to regain momentum.

Exports by Country

The United Arab Emirates was the largest exporter of refractory products of siliceous or diatomite earths 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 Oman (X tons) and Saudi Arabia (X tons), together making up a 43% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Oman (with a CAGR of +54.1%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) remains the largest refractory products of siliceous or diatomite earths supplier in GCC, comprising 64% of total exports. The second position in the ranking was taken by Oman ($X), with a 23% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates stood at +12.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Oman (+47.7% per year) and Saudi Arabia (+37.4% per year).

Export Prices by Country

In 2021, the export price in GCC amounted to $X per ton, jumping by 20% against the previous year. Overall, the export price, however, showed a pronounced descent. The growth pace was the most rapid in 2019 when the export price increased by 125% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the export prices failed to regain momentum.

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 Saudi Arabia ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+3.4%), while the other leaders experienced a decline in the export price figures.

Imports of Refractory Products of Siliceous or Diatomite Earths

Imports in GCC

Imports of refractory products of siliceous or diatomite earths soared to X tons in 2021, growing by 29% compared with 2020. Over the period under review, imports saw buoyant growth. The pace of growth was the most pronounced in 2017 with an increase of 1,053%. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, imports of refractory products of siliceous or diatomite earths skyrocketed to $X in 2021. In general, imports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of 330% against the previous year. Over the period under review, imports of reached the maximum at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

Saudi Arabia dominates earths structure, recording X tons, which was near 90% of total imports in 2021. It was distantly followed by Qatar (X tons), making up a 6.5% share of total imports. Oman (X tons) held a relatively small share of total imports.

Saudi Arabia was also the fastest-growing in terms of the refractory products of siliceous or diatomite earths imports, with a CAGR of +25.7% from 2012 to 2021. At the same time, Qatar (+11.5%) and Oman (+5.7%) displayed positive paces of growth. Saudi Arabia (+40 p.p.) significantly strengthened its position in terms of the total imports, while Oman and Qatar saw its share reduced by -3.3% and -4.1% from 2012 to 2021, respectively.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported refractory products of siliceous or diatomite earths in GCC, comprising 84% of total imports. The second position in the ranking was taken by Qatar ($X), with a 7.1% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in Saudi Arabia amounted to +19.6%. The remaining importing countries recorded the following average annual rates of imports growth: Qatar (+9.0% per year) and Oman (+6.5% per year).

Import Prices by Country

In 2021, the import price in GCC amounted to $X per ton, picking up by 2.9% against the previous year. In general, the import price, however, continues to indicate a drastic downturn. The pace of growth was the most pronounced in 2013 when the import price increased by 114%. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Qatar ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+0.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform