Saudi Arabia: Market for 2,2-Oxydiethanol (Diethylene Glycol, Digol) 2024

Market Size for 2,2-Oxydiethanol (Diethylene Glycol, Digol) in Saudi Arabia

In 2021, the Saudi diethylene glycol and digol market was finally on the rise to reach $X after two years of decline. Overall, consumption, however, showed a significant increase. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Production of X-Oxydiethanol (Diethylene Glycol, Digol) in Saudi Arabia

In value terms, diethylene glycol and digol production amounted to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 20% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Exports of 2,2-Oxydiethanol (Diethylene Glycol, Digol)

Exports from Saudi Arabia

In 2021, the amount of X-oxydiethanol (diethylene glycol, digol) exported from Saudi Arabia reached X tons, increasing by 7.7% on the previous year. Over the period under review, exports, however, recorded a precipitous contraction. The growth pace was the most rapid in 2017 when exports increased by 3,419%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, diethylene glycol and digol exports dropped slightly to $X in 2021. Overall, exports, however, recorded a dramatic downturn. The growth pace was the most rapid in 2017 with an increase of 4,372%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for diethylene glycol and digol exports from Saudi Arabia, accounting for a 96% share of total exports. It was followed by Oman (X tons), with a 3.2% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates totaled -30.8%.

In value terms, the United Arab Emirates ($X) remains the key foreign market for X-oxydiethanol (diethylene glycol, digol) exports from Saudi Arabia, comprising 97% of total exports. The second position in the ranking was taken by Oman ($X), with a 2.7% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United Arab Emirates totaled -33.6%.

Export Prices by Country

In 2021, the average diethylene glycol and digol export price amounted to $X per ton, reducing by -7.8% against the previous year. In general, the export price saw a pronounced decrease. The most prominent rate of growth was recorded in 2017 an increase of 27%. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2021, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Oman amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (-4.0%).

Imports of 2,2-Oxydiethanol (Diethylene Glycol, Digol)

Imports into Saudi Arabia

In 2019, the amount of X-oxydiethanol (diethylene glycol, digol) imported into Saudi Arabia declined modestly to X tons, almost unchanged from the year before. The total import volume increased at an average annual rate of +2.4% from 2012 to 2019; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2014 when imports increased by 18%. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2019, imports remained at a lower figure.

In value terms, diethylene glycol and digol imports stood at $X in 2019. Overall, total imports indicated a resilient increase from 2012 to 2019: its value increased at an average annual rate of +9.2% over the last seven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, imports increased by +64.3% against 2017 indices. The pace of growth was the most pronounced in 2018 with an increase of 60% against the previous year. Imports peaked in 2019 and are likely to see steady growth in the immediate term.

Imports by Country

The United Arab Emirates (X tons) and Bahrain (X tons) were the main suppliers of diethylene glycol and digol imports to Saudi Arabia.

From 2012 to 2019, the biggest increases were recorded for Bahrain (with a CAGR of +66.6%).

In value terms, the largest diethylene glycol and digol suppliers to Saudi Arabia were Bahrain ($X) and the United Arab Emirates ($X).

Bahrain, with a CAGR of +71.9%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review.

Import Prices by Country

The average diethylene glycol and digol import price stood at $X per ton in 2019, picking up by 2.9% against the previous year. Overall, import price indicated a strong increase from 2012 to 2019: its price increased at an average annual rate of +6.7% over the last seven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, diethylene glycol and digol import price increased by +48.3% against 2017 indices. The most prominent rate of growth was recorded in 2018 when the average import price increased by 44% against the previous year. Over the period under review, average import prices hit record highs in 2019 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2019, the country with the highest price was Bahrain ($X per ton), while the price for the United Arab Emirates amounted to $X per ton.

From 2012 to 2019, the most notable rate of growth in terms of prices was attained by the UK (+45.0%).

Source: IndexBox Platform

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