Saudi Arabia: Ether Market 2024

Ether Market Size in Saudi Arabia

In 2022, after two years of growth, there was significant decline in the Saudi ether market, when its value decreased by -7.1% to $X. Over the period under review, the total consumption indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +44.7% against 2019 indices. Ether consumption peaked at $X in 2021, and then shrank in the following year.

Ether Production in Saudi Arabia

In value terms, ether production fell modestly to $X in 2022 estimated in export price. Overall, production showed a slight increase. The pace of growth appeared the most rapid in 2017 when the production volume increased by 300% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Ether Exports

Exports from Saudi Arabia

In 2022, exports of ethers from Saudi Arabia was estimated at X tons, flattening at the previous year. In general, exports saw noticeable growth. The pace of growth appeared the most rapid in 2017 when exports increased by 402%. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, ether exports contracted to $X in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 354%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for ether exports from Saudi Arabia, with a 44% share of total exports. Moreover, ether exports to China exceeded the volume sent to the second major destination, Singapore (X tons), threefold. The third position in this ranking was taken by Indonesia (X tons), with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China amounted to +7.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+2.1% per year) and Indonesia (+46.0% per year).

In value terms, China ($X) remains the key foreign market for ethers exports from Saudi Arabia, comprising 42% of total exports. The second position in the ranking was taken by Singapore ($X), with a 15% share of total exports. It was followed by South Korea, with a 5.2% share.

From 2012 to 2022, the average annual growth rate of value to China stood at +1.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (-2.0% per year) and South Korea (-2.7% per year).

Export Prices by Country

The average ether export price stood at $X per ton in 2022, reducing by -11.9% against the previous year. Overall, the export price showed a perceptible downturn. The pace of growth was the most pronounced in 2021 when the average export price increased by 30%. Over the period under review, the average export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (-2.0%), while the prices for the other major destinations experienced a decline.

Ether Imports

Imports into Saudi Arabia

In 2022, the amount of ethers imported into Saudi Arabia soared to X tons, picking up by 37% on the previous year. Over the period under review, total imports indicated slight growth from 2012 to 2022: its volume increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -1.8% against 2020 indices. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, ether imports reached $X in 2022. In general, total imports indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -4.4% against 2020 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 37%. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest supplier of ether to Saudi Arabia, with a 55% share of total imports. Moreover, ether imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, China (X tons), sixfold. The third position in this ranking was held by Germany (X tons), with an 8.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United Arab Emirates amounted to +18.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+1.6% per year) and Germany (-0.3% per year).

In value terms, the largest ether suppliers to Saudi Arabia were China ($X), the United Arab Emirates ($X) and the United States ($X), with a combined 58% share of total imports. Germany, Belgium, France, Taiwan (Chinese), the Netherlands and India lagged somewhat behind, together accounting for a further 36%.

Taiwan (Chinese), with a CAGR of +34.9%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average ether import price stood at $X per ton in 2022, dropping by -23.6% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 27% against the previous year. As a result, import price reached the peak level of $X per ton, and then fell remarkably in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+14.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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