GCC: Sodium Carbonate Market 2024

Sodium Carbonate Market Size in GCC

In 2022, the GCC sodium carbonate market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Sodium Carbonate Production in GCC

In value terms, sodium carbonate production surged to $X in 2022 estimated in export price. Overall, production continues to indicate a modest expansion. The pace of growth was the most pronounced in 2019 when the production volume increased by 261% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Sodium Carbonate Exports

Exports in GCC

In 2022, approx. X tons of sodium carbonate were exported in GCC; surging by 8.1% against the previous year's figure. Over the period under review, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 431% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, sodium carbonate exports reduced to $X in 2022. Overall, exports recorded a significant increase. The growth pace was the most rapid in 2017 with an increase of 408%. The level of export peaked at $X in 2021, and then contracted in the following year.

Exports by Country

In 2022, the United Arab Emirates (X tons) represented the largest exporter of sodium carbonate in GCC, making up 99% of total export.

The United Arab Emirates was also the fastest-growing in terms of the sodium carbonate exports, with a CAGR of +36.8% from 2012 to 2022. From 2012 to 2022, the share of the United Arab Emirates increased by +9.5 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) also remains the largest sodium carbonate supplier in GCC.

In the United Arab Emirates, sodium carbonate exports increased at an average annual rate of +31.8% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, waning by -14% against the previous year. Over the period under review, the export price showed a pronounced slump. The growth pace was the most rapid in 2021 an increase of 37% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to -3.6% per year.

Sodium Carbonate Imports

Imports in GCC

In 2022, imports of sodium carbonate in GCC shrank slightly to X tons, declining by -2.1% on 2021 figures. The total import volume increased at an average annual rate of +2.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when imports increased by 29% against the previous year. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, sodium carbonate imports rose modestly to $X in 2022. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 28%. The level of import peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Saudi Arabia represented the key importing country with an import of about X tons, which reached 54% of total imports. It was distantly followed by the United Arab Emirates (X tons), Oman (X tons) and Kuwait (X tons), together constituting a 45% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Oman (with a CAGR of +17.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported sodium carbonate in GCC, comprising 57% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 23% share of total imports. It was followed by Oman, with a 12% share.

From 2012 to 2022, the average annual growth rate of value in Saudi Arabia amounted to -2.9%. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+5.0% per year) and Oman (+18.5% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, with an increase of 3.7% against the previous year. Over the period under review, the import price, however, continues to indicate a slight downturn. The pace of growth appeared the most rapid in 2019 an increase of 11% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, 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 2022, the most notable rate of growth in terms of prices was attained by Oman (+0.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform