Saudi Arabia: Diethanolamine Market 2024

Diethanolamine Market Size in Saudi Arabia

The Saudi diethanolamine market contracted rapidly to $X in 2021, shrinking by -57.5% against the previous year. In general, consumption showed a abrupt curtailment. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Diethanolamine Production in Saudi Arabia

In value terms, diethanolamine production expanded modestly to $X in 2021 estimated in export price. Overall, production, however, saw a strong expansion. The pace of growth appeared the most rapid in 2017 with an increase of 105% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Diethanolamine Exports

Exports from Saudi Arabia

In 2021, exports of diethanolamine and its salts from Saudi Arabia reached X tons, remaining stable against 2020 figures. Overall, exports showed a resilient expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 130%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, diethanolamine exports rose rapidly to $X in 2021. Over the period under review, exports continue to indicate a notable increase. The pace of growth was the most pronounced in 2017 with an increase of 94% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons), South Korea (X tons) and the United States (X tons) were the main destinations of diethanolamine exports from Saudi Arabia, together comprising 69% of total exports. These countries were followed by Belgium, Singapore, Thailand, the United Arab Emirates and India, which together accounted for a further 26%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Thailand (with a CAGR of +144.7%), while the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), China ($X) and Belgium ($X) constituted the largest markets for diethanolamine exported from Saudi Arabia worldwide, with a combined 66% share of total exports. The United States, Singapore, the United Arab Emirates, Thailand and India lagged somewhat behind, together accounting for a further 27%.

Thailand, with a CAGR of +130.8%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average diethanolamine export price stood at $X per ton in 2021, with an increase of 14% against the previous year. In general, the export price, however, showed a deep reduction. The pace of growth was the most pronounced in 2018 when the average export price increased by 15%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+32.3%), while the prices for the other major destinations experienced more modest paces of growth.

Diethanolamine Imports

Imports into Saudi Arabia

Diethanolamine imports into Saudi Arabia rose sharply to X tons in 2014, increasing by 8.1% on the previous year's figure. Over the period under review, imports, however, continue to indicate a significant decline. Imports peaked at X tons in 2012; however, from 2013 to 2014, imports remained at a lower figure.

In value terms, diethanolamine imports stood at $X in 2014. In general, imports, however, saw a precipitous setback. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2014, imports stood at a somewhat lower figure.

Imports by Country

Germany (X tons), Malaysia (X tons) and South Korea (X tons) were the main suppliers of diethanolamine imports to Saudi Arabia, with a combined 79% share of total imports.

From 2012 to 2014, the biggest increases were recorded for Malaysia (with a CAGR of +18.8%), while purchases for the other leaders experienced a decline.

In value terms, Germany ($X), South Korea ($X) and Malaysia ($X) constituted the largest diethanolamine suppliers to Saudi Arabia, together comprising 81% of total imports.

Malaysia, with a CAGR of +37.1%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average diethanolamine import price stood at $X per ton in 2014, rising by 5.3% against the previous year. Over the last two years, it increased at an average annual rate of +6.7%. The growth pace was the most rapid in 2013 an increase of 8.2%. Over the period under review, average import prices reached the maximum in 2014 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2014, amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2014, the most notable rate of growth in terms of prices was attained by South Korea (+8.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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