GCC: Fuse And Detonator Market 2024

Fuse And Detonator Market Size in GCC

In 2021, the GCC fuse and detonator market increased by 6% to $X, rising for the sixth year in a row after two years of decline. Over the period under review, consumption posted a strong expansion. The level of consumption peaked in 2021 and is likely to see steady growth in years to come.

Fuse And Detonator Production in GCC

In value terms, fuse and detonator production contracted to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2018 with an increase of 72%. Over the period under review, production hit record highs at $X in 2020, and then shrank modestly in the following year.

Fuse And Detonator Exports

Exports in GCC

In 2021, fuse and detonator exports in GCC expanded significantly to X tons, picking up by 12% compared with the previous year. Over the period under review, exports showed buoyant growth. The growth pace was the most rapid in 2013 with an increase of 154%. The volume of export peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, fuse and detonator exports expanded sharply to $X in 2021. Overall, exports posted a resilient increase. The most prominent rate of growth was recorded in 2018 with an increase of 107% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Saudi Arabia (X tons) represented the key exporter of safety fuses, detonating fuses and electric detonators, mixing up 73% of total exports. It was distantly followed by Oman (X tons), making up a 25% share of total exports. The United Arab Emirates (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to fuse and detonator exports from Saudi Arabia stood at +37.1%. At the same time, Oman (+44.0%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +44.0% from 2012-2021. By contrast, the United Arab Emirates (-28.8%) illustrated a downward trend over the same period. Saudi Arabia (+64 p.p.) and Oman (+23 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -86.6% from 2012 to 2021, respectively.

In value terms, Saudi Arabia ($X) remains the largest fuse and detonator supplier in GCC, comprising 79% of total exports. The second position in the ranking was taken by Oman ($X), with a 16% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Saudi Arabia stood at +28.0%. In the other countries, the average annual rates were as follows: Oman (+59.2% per year) and the United Arab Emirates (-19.1% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, stabilizing at the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the export price increased by 155%. Over the period under review, the export prices reached the maximum in 2021 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+13.7%), while the other leaders experienced mixed trends in the export price figures.

Fuse And Detonator Imports

Imports in GCC

In 2021, the amount of safety fuses, detonating fuses and electric detonators imported in GCC skyrocketed to X tons, with an increase of 16% against the previous year's figure. In general, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 105%. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, fuse and detonator imports soared to $X in 2021. Over the period under review, imports, however, continue to indicate a perceptible downturn. The most prominent rate of growth was recorded in 2017 with an increase of 120% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates was the largest importer of safety fuses, detonating fuses and electric detonators in GCC, with the volume of imports reaching X tons, which was approx. 57% of total imports in 2021. It was distantly followed by Saudi Arabia (X tons) and Kuwait (X tons), together comprising a 38% share of total imports. Oman (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Kuwait (with a CAGR of +16.3%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest fuse and detonator importing markets in GCC were the United Arab Emirates ($X), Saudi Arabia ($X) and Kuwait ($X), together comprising 92% of total imports.

Kuwait, with a CAGR of +13.7%, saw the highest rates of growth with regard to the value of imports, among the main importing countries 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 2021, growing by 15% against the previous year. Over the period under review, the import price, however, showed a noticeable downturn. The most prominent rate of growth was recorded in 2014 an increase of 25%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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 ($X per ton), while the United Arab Emirates ($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 (+16.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform