Saudi Arabia: Odoriferous Substance Mixture Market 2024

Odoriferous Substance Mixture Market Size in Saudi Arabia

In 2022, after two years of decline, there was growth in the Saudi odoriferous substance mixture market, when its value increased by 2% to $X. The market value increased at an average annual rate of +3.2% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Odoriferous Substance Mixture Exports

Exports from Saudi Arabia

In 2022, shipments abroad of mixtures of odoriferous substances and their preparations increased by 0.9% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports, however, recorded a abrupt setback. The pace of growth appeared the most rapid in 2018 when exports increased by 73%. Over the period under review, the exports reached the maximum at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, odoriferous substance mixture exports rose rapidly to $X in 2022. In general, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 when exports increased by 46%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Yemen (X tons), Egypt (X tons) and the United Arab Emirates (X tons) were the main destinations of odoriferous substance mixture exports from Saudi Arabia, with a combined 88% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Yemen (with a CAGR of +31.2%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Yemen ($X) emerged as the key foreign market for mixtures of odoriferous substances and their preparations exports from Saudi Arabia, comprising 53% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 22% share of total exports. It was followed by Egypt, with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Yemen amounted to +46.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-9.2% per year) and Egypt (+20.7% per year).

Export Prices by Country

In 2022, the average odoriferous substance mixture export price amounted to $X per ton, increasing by 7.6% against the previous year. Over the period under review, export price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +7.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, odoriferous substance mixture export price decreased by -9.3% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by 63% against the previous year. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Iraq ($X per ton), while the average price for exports to Kuwait ($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 Iraq (+30.2%), while the prices for the other major destinations experienced more modest paces of growth.

Odoriferous Substance Mixture Imports

Imports into Saudi Arabia

In 2022, purchases abroad of mixtures of odoriferous substances and their preparations was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, saw a mild downturn. The pace of growth appeared the most rapid in 2014 when imports increased by 7.8%. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, odoriferous substance mixture imports stood at $X in 2022. Over the period under review, total imports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +4.4% 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 -1.4% against 2019 indices. The growth pace was the most rapid in 2014 when imports increased by 22%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Germany (X tons), India (X tons) and the UK (X tons) were the main suppliers of odoriferous substance mixture imports to Saudi Arabia, with a combined 44% share of total imports. Switzerland, France, the Netherlands, Spain, Egypt and the United States lagged somewhat behind, together comprising a further 41%.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +12.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Switzerland ($X) and the UK ($X) constituted the largest odoriferous substance mixture suppliers to Saudi Arabia, with a combined 45% share of total imports.

The UK, with a CAGR of +14.0%, saw 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

In 2022, the average odoriferous substance mixture import price amounted to $X per ton, waning by -3.8% against the previous year. Overall, import price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, odoriferous substance mixture import price increased by +33.1% against 2015 indices. The most prominent rate of growth was recorded in 2015 an increase of 22%. The import price peaked at $X per ton in 2021, and then reduced slightly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+9.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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