GCC: Talc And Steatite Market 2024

Talc And Steatite Market Size in GCC

The GCC talc and steatite market fell to $X in 2022, which is down by -9.2% against the previous year. Overall, consumption, however, showed a buoyant increase. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Talc And Steatite Production in GCC

In value terms, talc and steatite production reduced to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 478%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Talc And Steatite Exports

Exports in GCC

In 2022, after two years of growth, there was significant decline in overseas shipments of talc and steatite, when their volume decreased by -44.7% to X tons. In general, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 276%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, talc and steatite exports amounted to $X in 2022. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 153%. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Saudi Arabia was the main exporter of talc and steatite in GCC, with the volume of exports amounting to X tons, which was near 83% of total exports in 2022. It was distantly followed by the United Arab Emirates (X tons), mixing up a 14% share of total exports. Oman (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to talc and steatite exports from Saudi Arabia stood at +5.1%. At the same time, Oman (+28.0%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +28.0% from 2012-2022. By contrast, the United Arab Emirates (-10.8%) illustrated a downward trend over the same period. Saudi Arabia (+34 p.p.) and Oman (+1.7 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -28% from 2012 to 2022, respectively.

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

Among the main exporting countries, Oman, with a CAGR of +30.6%, recorded the highest rates of growth with regard to the value of exports, 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 2022, jumping by 81% against the previous year. Overall, the export price recorded a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+9.4%), while the other leaders experienced more modest paces of growth.

Talc And Steatite Imports

Imports in GCC

In 2022, approx. X tons of talc and steatite were imported in GCC; waning by -33.8% against the previous year. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 31%. Over the period under review, imports hit record highs at X tons in 2021, and then fell dramatically in the following year.

In value terms, talc and steatite imports declined markedly to $X in 2022. Total imports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when imports increased by 25% against the previous year. The level of import peaked at $X in 2021, and then dropped markedly in the following year.

Imports by Country

The United Arab Emirates dominates imports structure, amounting to X tons, which was near 78% of total imports in 2022. Qatar (X tons) took the second position in the ranking, followed by Oman (X tons). All these countries together took near 17% share of total imports. Kuwait (X tons) took a relatively small share of total imports.

Imports into the United Arab Emirates increased at an average annual rate of +7.3% from 2012 to 2022. At the same time, Qatar (+8.8%) and Oman (+8.7%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of +8.8% from 2012-2022. By contrast, Kuwait (-7.7%) illustrated a downward trend over the same period. The United Arab Emirates (+39 p.p.), Qatar (+5.6 p.p.) and Oman (+4.1 p.p.) significantly strengthened its position in terms of the total imports, while Kuwait saw its share reduced by -5.3% from 2012 to 2022, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported talc and steatite in GCC, comprising 70% of total imports. The second position in the ranking was taken by Qatar ($X), with a 22% share of total imports. It was followed by Oman, with a 5.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates totaled +10.8%. The remaining importing countries recorded the following average annual rates of imports growth: Qatar (+12.8% per year) and Oman (+11.5% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, with an increase of 24% against the previous year. Import price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, talc and steatite import price increased by +19.2% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+5.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform