GCC: Market for Rosin And Resin Acids And Derivatives 2024

Market Size for Rosin And Resin Acids And Derivatives in GCC

The GCC rosin and resin acids market rose sharply to $X in 2022, surging by X% against the previous year. Over the period under review, consumption, however, saw a perceptible decrease. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Production of Rosin And Resin Acids And Derivatives in GCC

In value terms, rosin and resin acids production expanded rapidly to $X in 2022 estimated in export price. Overall, production, however, showed a noticeable curtailment. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Exports of Rosin And Resin Acids And Derivatives

Exports in GCC

In 2022, exports of rosin and resin acids and derivatives in GCC surged to X tons, picking up by X% against the previous year. Over the period under review, exports, however, recorded a deep contraction. The growth pace was the most rapid in 2014 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, rosin and resin acids exports surged to $X in 2022. Overall, exports, however, continue to indicate a deep slump. The pace of growth was the most pronounced in 2014 with an increase of X%. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia represented the largest exporter of rosin and resin acids and derivatives in GCC, with the volume of exports recording X tons, which was approx. X% of total exports in 2022. The United Arab Emirates (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Oman (X%).

Saudi Arabia experienced a relatively flat trend pattern with regard to volume of exports of rosin and resin acids and derivatives. Oman (X%) and the United Arab Emirates (X%) illustrated a downward trend over the same period. While the share of Saudi Arabia (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest rosin and resin acids supplying countries in GCC were the United Arab Emirates ($X), Saudi Arabia ($X) and Oman ($X), together accounting for X% of total exports.

Oman, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, reducing by X% against the previous year. Overall, the export price saw a drastic downturn. The most prominent rate of growth was recorded in 2017 when the export price increased by X%. The level of export peaked at $X per ton in 2018; however, from 2019 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 ($X per ton), while Saudi Arabia ($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 (X%), while the other leaders experienced a decline in the export price figures.

Imports of Rosin And Resin Acids And Derivatives

Imports in GCC

In 2022, overseas purchases of rosin and resin acids and derivatives decreased by X% to X tons, falling for the second consecutive year after three years of growth. In general, imports saw a abrupt decrease. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, rosin and resin acids imports declined sharply to $X in 2022. Overall, imports saw a abrupt contraction. The growth pace was the most rapid in 2014 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

The United Arab Emirates dominates imports structure, resulting at X tons, which was approx. X% of total imports in 2022. It was distantly followed by Bahrain (X tons), achieving a X% share of total imports. Oman (X tons) and Kuwait (X tons) took a little share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the rosin and resin acids and derivatives imports, with a CAGR of X% from 2012 to 2022. Oman (X%), Kuwait (X%) and Bahrain (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates and Oman increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported rosin and resin acids and derivatives in GCC, comprising X% of total imports. The second position in the ranking was held by Oman ($X), with a X% share of total imports. It was followed by Bahrain, with a X% share.

In the United Arab Emirates, rosin and resin acids imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Oman (X% per year) and Bahrain (X% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, growing by X% against the previous year. Over the period under review, the import price, however, recorded a pronounced shrinkage. The most prominent rate of growth was recorded in 2014 when the import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: 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 2022, the most notable rate of growth in terms of prices was attained by Kuwait (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform