GCC: Pyrotechnic Articles Market 2024

Pyrotechnic Articles Market Size in GCC

The GCC pyrotechnic articles market surged to $X in 2021, with an increase of 22% against the previous year. The total consumption indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -5.7% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Pyrotechnic Articles Production in GCC

In value terms, pyrotechnic articles production soared to $X in 2021 estimated in export price. Over the period under review, production recorded buoyant growth. The most prominent rate of growth was recorded in 2016 with an increase of 48%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Pyrotechnic Articles Exports

Exports in GCC

In 2021, exports of signalling flares, rain rockets, fog signals and other pyrotechnic articles in GCC surged to X tons, increasing by 63% against 2020. In general, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 213% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, pyrotechnic articles exports soared to $X in 2021. Overall, exports enjoyed mild growth. The pace of growth appeared the most rapid in 2014 when exports increased by 248% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Oman (X tons) was the major exporter of signalling flares, rain rockets, fog signals and other pyrotechnic articles, creating 65% of total exports. Saudi Arabia (X kg) ranks second in terms of the total exports with a 17% share, followed by the United Arab Emirates (13%) and Bahrain (4.7%).

Oman was also the fastest-growing in terms of the signalling flares, rain rockets, fog signals and other pyrotechnic articles exports, with a CAGR of +154.1% from 2012 to 2021. Bahrain (-2.9%), the United Arab Emirates (-11.7%) and Saudi Arabia (-13.2%) illustrated a downward trend over the same period. Oman (+65 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates and Saudi Arabia saw its share reduced by -24.8% and -39.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest pyrotechnic articles supplying countries in GCC were Saudi Arabia ($X), Bahrain ($X) and Oman ($X), with a combined 91% share of total exports.

Oman, with a CAGR of +236.9%, saw 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 mixed trends in the exports figures.

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, falling by -28.5% against the previous year. In general, the export price, however, recorded a notable expansion. The most prominent rate of growth was recorded in 2020 when the export price increased by 369% against the previous year. The level of export peaked at $X per ton in 2017; however, from 2018 to 2021, 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 Bahrain ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+32.6%), while the other leaders experienced more modest paces of growth.

Pyrotechnic Articles Imports

Imports in GCC

In 2021, supplies from abroad of signalling flares, rain rockets, fog signals and other pyrotechnic articles increased by 78% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 340%. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, pyrotechnic articles imports expanded sharply to $X in 2021. Overall, imports saw a perceptible increase. The pace of growth was the most pronounced in 2017 when imports increased by 138%. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the United Arab Emirates (X tons) was the largest importer of signalling flares, rain rockets, fog signals and other pyrotechnic articles, achieving 79% of total imports. Oman (X tons) held a 12% share (based on physical terms) of total imports, which put it in second place, followed by Qatar (4.7%). The following importers - Bahrain (X tons) and Kuwait (X tons) - each resulted at a 4% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to pyrotechnic articles imports into the United Arab Emirates stood at +2.7%. At the same time, Bahrain (+15.2%) and Kuwait (+12.4%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in GCC, with a CAGR of +15.2% from 2012-2021. Qatar and Oman experienced a relatively flat trend pattern. From 2012 to 2021, the share of the United Arab Emirates and Bahrain increased by +14 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X), Oman ($X) and Qatar ($X) constituted the countries with the highest levels of imports in 2021, together comprising 96% of total imports. Kuwait and Bahrain lagged somewhat behind, together accounting for a further 3.7%.

In terms of the main importing countries, Bahrain, with a CAGR of +21.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in GCC stood at $X per ton in 2021, which is down by -38.9% against the previous year. In general, the import price, however, saw a noticeable increase. The most prominent rate of growth was recorded in 2014 when the import price increased by 60% against the previous year. The level of import peaked at $X per ton in 2020, and then dropped sharply in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Oman ($X per ton), while Qatar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bahrain (+5.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform