GCC: Sulphites Market 2024

Sulphites Market Size in GCC

The GCC sulphites market expanded modestly to $X in 2022, increasing by 4.1% against the previous year. Over the period under review, consumption, however, continues to indicate modest growth. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Sulphites Production in GCC

In value terms, sulphites production soared to $X in 2022 estimated in export price. Overall, production recorded prominent growth. The pace of growth was the most pronounced in 2020 when the production volume increased by 344% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Sulphites Exports

Exports in GCC

In 2022, the amount of sulphites exported in GCC fell to X tons, dropping by -6% against the previous year's figure. Over the period under review, exports continue to indicate a deep reduction. The pace of growth appeared the most rapid in 2017 with an increase of 91% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, sulphites exports reduced to $X in 2022. In general, exports showed a deep reduction. The growth pace was the most rapid in 2017 with an increase of 90%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates was the main exporter of sulphites in GCC, with the volume of exports reaching X tons, which was near 63% of total exports in 2022. Saudi Arabia (X tons) ranks second in terms of the total exports with a 25% share, followed by Kuwait (9.1%). Oman (X tons) held a relatively small share of total exports.

Exports from the United Arab Emirates increased at an average annual rate of +7.0% from 2012 to 2022. At the same time, Kuwait (+44.2%) and Saudi Arabia (+17.8%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in GCC, with a CAGR of +44.2% from 2012-2022. By contrast, Oman (-6.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates, Saudi Arabia and Kuwait increased by +55, +24 and +9 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest sulphites supplying countries in GCC were the United Arab Emirates ($X), Saudi Arabia ($X) and Kuwait ($X), with a combined 97% share of total exports.

Kuwait, with a CAGR of +32.0%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, almost unchanged from the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 9.2% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Saudi Arabia ($X per ton) and Kuwait ($X per ton), while the United Arab Emirates ($X per ton) and Oman ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+1.0%), while the other leaders experienced a decline in the export price figures.

Sulphites Imports

Imports in GCC

In 2022, purchases abroad of sulphites decreased by -35.9% to X tons, falling for the fourth consecutive year after two years of growth. Overall, imports recorded a deep downturn. The pace of growth was the most pronounced in 2017 with an increase of 49%. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, sulphites imports shrank significantly to $X in 2022. Over the period under review, imports recorded a noticeable setback. The pace of growth was the most pronounced in 2017 with an increase of 44% against the previous year. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates represented the main importing country with an import of about X tons, which recorded 48% of total imports. Qatar (X tons) took the second position in the ranking, distantly followed by Kuwait (X tons) and Oman (X tons). All these countries together held approx. 49% share of total imports. Bahrain (X tons) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Bahrain (with a CAGR of +3.3%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the United Arab Emirates ($X), Qatar ($X) and Kuwait ($X) constituted the countries with the highest levels of imports in 2022, with a combined 90% share of total imports. Oman and Bahrain lagged somewhat behind, together comprising a further 9.6%.

In terms of the main importing countries, Bahrain, with a CAGR of +4.1%, saw the highest rates of growth with regard to the value of imports, 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 2022, jumping by 31% against the previous year. Over the last decade, it increased at an average annual rate of +2.8%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Qatar ($X per ton) and Kuwait ($X per ton), while Oman ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (+10.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform