Saudi Arabia: Melamine Resins Market 2024

Melamine Resins Market Size in Saudi Arabia

The Saudi melamine resins market was finally on the rise to reach $X in 2021, after three years of decline. Over the period under review, the total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +6.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -16.9% against 2017 indices. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Melamine Resins Production in Saudi Arabia

In value terms, melamine resins production rose modestly to $X in 2021 estimated in export price. Over the period under review, the total production indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +7.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -16.9% against 2017 indices. The growth pace was the most rapid in 2013 when the production volume increased by 41% against the previous year. Melamine resins production peaked at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Melamine Resins Exports

Exports from Saudi Arabia

In 2021, shipments abroad of melamine resins in primary forms decreased by -56.1% to X tons, falling for the third year in a row after four years of growth. Overall, exports recorded a drastic downturn. The pace of growth was the most pronounced in 2017 when exports increased by 447%. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, melamine resins exports declined markedly to $X in 2021. Over the period under review, exports saw a abrupt shrinkage. The growth pace was the most rapid in 2017 with an increase of 413% against the previous year. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Vietnam (X tons), Malaysia (X tons) and China (X tons) were the main destinations of melamine resins exports from Saudi Arabia, with a combined 31% share of total exports. These countries were followed by Ghana, Spain, Singapore, Sudan, Pakistan, the United States, Oman, Yemen, Bahrain and the UK, which together accounted for a further 46%.

From 2012 to 2021, the biggest increases were recorded for Ghana (with a CAGR of +61.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for melamine resins exported from Saudi Arabia were Vietnam ($X), Spain ($X) and China ($X), together comprising 34% of total exports.

Vietnam, with a CAGR of +37.9%, saw 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

In 2021, the average melamine resins export price amounted to $X per ton, surging by 33% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.9%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Yemen ($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 Vietnam (+17.6%), while the prices for the other major destinations experienced more modest paces of growth.

Melamine Resins Imports

Imports into Saudi Arabia

Melamine resins imports into Saudi Arabia shrank sharply to X tons in 2017, with a decrease of -21.1% compared with the previous year. Overall, imports saw a abrupt descent. The growth pace was the most rapid in 2015 when imports increased by 2.7% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2017, imports failed to regain momentum.

In value terms, melamine resins imports dropped rapidly to $X in 2017. In general, imports faced a drastic downturn. The smallest decline of -1.2% was in 2014. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2017, imports remained at a lower figure.

Imports by Country

In 2017, Egypt (X tons) constituted the largest supplier of melamine resins to Saudi Arabia, with a 39% share of total imports. Moreover, melamine resins imports from Egypt exceeded the figures recorded by the second-largest supplier, Thailand (X tons), threefold. China (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2017, the average annual growth rate of volume from Egypt stood at -14.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-24.2% per year) and China (-7.2% per year).

In value terms, Egypt ($X) constituted the largest supplier of melamine resins in primary forms to Saudi Arabia, comprising 36% of total imports. The second position in the ranking was taken by Germany ($X), with a 14% share of total imports. It was followed by Thailand, with a 12% share.

From 2012 to 2017, the average annual growth rate of value from Egypt stood at -14.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+12.3% per year) and Thailand (-26.6% per year).

Import Prices by Country

The average melamine resins import price stood at $X per ton in 2017, rising by 6.2% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 7.2%. The import price peaked at $X per ton in 2014; however, from 2015 to 2017, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2017, amid the top importers, the country with the highest price was Norway ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2017, the most notable rate of growth in terms of prices was attained by Norway (+1.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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