GCC: Market for Sulphides, Polysulphides, Dithionites And Sulphoxylates 2024

Market Size for Sulphides, Polysulphides, Dithionites And Sulphoxylates in GCC

The GCC sulphides, dithionites and sulphoxylates market fell modestly to $X in 2022, therefore, remained relatively stable against the previous year. Over the period under review, consumption, however, saw strong growth. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Production of Sulphides, Polysulphides, Dithionites And Sulphoxylates in GCC

In value terms, sulphides, dithionites and sulphoxylates production totaled $X in 2022 estimated in export price. Over the period under review, production posted a noticeable increase. The most prominent rate of growth was recorded in 2016 when the production volume increased by 31%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Exports of Sulphides, Polysulphides, Dithionites And Sulphoxylates

Exports in GCC

In 2022, approx. X tons of sulphides, polysulphides, dithionites and sulphoxylates were exported in GCC; increasing by 16% against 2021 figures. Overall, exports, however, faced a abrupt slump. The pace of growth appeared the most rapid in 2020 when exports increased by 44% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, sulphides, dithionites and sulphoxylates exports amounted to $X in 2022. Over the period under review, exports, however, recorded a abrupt downturn. The pace of growth appeared the most rapid in 2020 with an increase of 43%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates prevails in exports structure, recording X tons, which was near 92% of total exports in 2022. It was distantly followed by Saudi Arabia (X tons), mixing up a 6.7% share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the sulphides, polysulphides, dithionites and sulphoxylates exports, with a CAGR of -8.2% from 2012 to 2022. Saudi Arabia (-21.2%) illustrated a downward trend over the same period. The United Arab Emirates (+17 p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia saw its share reduced by -18.3% from 2012 to 2022, respectively.

In value terms, the United Arab Emirates ($X) remains the largest sulphides, dithionites and sulphoxylates supplier in GCC, comprising 95% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 4.7% share of total exports.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates totaled -1.7%.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, declining by -6.2% against the previous year. Export price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sulphides, dithionites and sulphoxylates export price increased by +6.7% against 2020 indices. The pace of growth was the most pronounced in 2016 when the export price increased by 51% against the previous year. The level of export peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+7.2%).

Imports of Sulphides, Polysulphides, Dithionites And Sulphoxylates

Imports in GCC

In 2022, overseas purchases of sulphides, polysulphides, dithionites and sulphoxylates decreased by -22.3% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports continue to indicate a abrupt descent. The growth pace was the most rapid in 2020 with an increase of 66% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, sulphides, dithionites and sulphoxylates imports shrank slightly to $X in 2022. Overall, imports saw a abrupt curtailment. The pace of growth appeared the most rapid in 2020 with an increase of 343%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

The United Arab Emirates was the largest importer of sulphides, polysulphides, dithionites and sulphoxylates in GCC, with the volume of imports accounting for X tons, which was near 64% of total imports in 2022. Oman (X tons) ranks second in terms of the total imports with a 20% share, followed by Kuwait (9.9%). The following importers - Bahrain (X tons) and Qatar (X tons) - each recorded a 6.3% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to sulphides, dithionites and sulphoxylates imports into the United Arab Emirates stood at -5.3%. At the same time, Oman (+2.2%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in GCC, with a CAGR of +2.2% from 2012-2022. Kuwait experienced a relatively flat trend pattern. By contrast, Qatar (-10.1%) and Bahrain (-19.3%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+51 p.p.), Oman (+18 p.p.), Kuwait (+8.8 p.p.) and Qatar (+1.9 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported sulphides, polysulphides, dithionites and sulphoxylates in GCC, comprising 74% of total imports. The second position in the ranking was held by Oman ($X), with a 9.6% share of total imports. It was followed by Kuwait, with a 7.4% share.

In the United Arab Emirates, sulphides, dithionites and sulphoxylates imports increased at an average annual rate of +4.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Oman (+5.0% per year) and Kuwait (+0.3% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, picking up by 23% against the previous year. In general, the import price recorded prominent growth. The pace of growth appeared the most rapid in 2020 when the import price increased by 167%. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (+11.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform