Saudi Arabia: Nucleic Acid Market 2024

Nucleic Acid Market Size in Saudi Arabia

The Saudi nucleic acid market contracted sharply to $X in 2021, which is down by -23.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate a noticeable contraction. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Nucleic Acid Exports

Exports from Saudi Arabia

In 2021, shipments abroad of nucleic acids and their salts increased by 377% to X tons, rising for the second year in a row after four years of decline. In general, exports saw a significant increase. The growth pace was the most rapid in 2015 when exports increased by 516% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, nucleic acid exports skyrocketed to $X in 2021. Overall, exports saw a mild expansion. The pace of growth appeared the most rapid in 2015 with an increase of 504%. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Japan (X tons) was the main destination for nucleic acid exports from Saudi Arabia, accounting for a 42% share of total exports. Moreover, nucleic acid exports to Japan exceeded the volume sent to the second major destination, Oman (X tons), twofold. The third position in this ranking was taken by Vietnam (X tons), with a 19% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Japan amounted to +152.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (+96.0% per year) and Vietnam (0.0% per year).

In value terms, Egypt ($X) remains the key foreign market for nucleic acids and their salts exports from Saudi Arabia, comprising 48% of total exports. The second position in the ranking was taken by Japan ($X), with a 17% share of total exports. It was followed by Oman, with a 15% share.

From 2012 to 2021, the average annual growth rate of value to Egypt amounted to -5.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+97.3% per year) and Oman (+107.3% per year).

Export Prices by Country

In 2021, the average nucleic acid export price amounted to $X per ton, reducing by -52.4% against the previous year. Over the period under review, the export price saw a abrupt descent. The pace of growth was the most pronounced in 2020 an increase of 22%. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Egypt ($X per ton), while the average price for exports to Vietnam ($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 United Arab Emirates (+6.1%), while the prices for the other major destinations experienced mixed trend patterns.

Nucleic Acid Imports

Imports into Saudi Arabia

In 2021, the amount of nucleic acids and their salts imported into Saudi Arabia declined to X tons, falling by -14.2% compared with the previous year's figure. Over the period under review, imports saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 with an increase of 18%. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, nucleic acid imports fell markedly to $X in 2021. In general, total imports indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +18.0% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of 48% against the previous year. As a result, imports reached the peak of $X, and then reduced notably in the following year.

Imports by Country

In 2021, China (X tons) constituted the largest nucleic acid supplier to Saudi Arabia, with a 54% share of total imports. Moreover, nucleic acid imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), twofold. Germany (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled -1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+8.5% per year) and Germany (-8.5% per year).

In value terms, China ($X), India ($X) and Germany ($X) were the largest nucleic acid suppliers to Saudi Arabia, with a combined 86% share of total imports.

India, with a CAGR of +13.2%, saw the highest rates of growth with regard to the value of imports, among 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 nucleic acid import price stood at $X per ton in 2021, waning by -6.9% against the previous year. Overall, the import price, however, posted a buoyant increase. The growth pace was the most rapid in 2017 when the average import price increased by 46%. The import price peaked at $X per ton in 2020, and then contracted 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 ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+8.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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