Saudi Arabia: Other Chemical Products Market 2024

Other Chemical Products Market Size in Saudi Arabia

The Saudi other chemical products market skyrocketed to $X in 2022, surging by 19% against the previous year. In general, consumption showed a prominent expansion. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Other Chemical Products Production in Saudi Arabia

In value terms, other chemical products production surged to $X in 2022 estimated in export price. Over the period under review, production posted a resilient expansion. The most prominent rate of growth was recorded in 2020 when the production volume increased by 150% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Other Chemical Products Exports

Exports from Saudi Arabia

In 2022, the amount of other chemical products exported from Saudi Arabia surged to X tons, growing by 26% against the previous year. Overall, exports, however, continue to indicate a dramatic curtailment. The most prominent rate of growth was recorded in 2018 with an increase of 521%. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, other chemical products exports surged to $X in 2022. In general, exports enjoyed slight growth. The most prominent rate of growth was recorded in 2018 with an increase of 840% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for other chemical products exports from Saudi Arabia, accounting for a 73% share of total exports. Moreover, other chemical products exports to the United Arab Emirates exceeded the volume sent to the second major destination, Kuwait (X tons), eightfold. Egypt (X tons) ranked third in terms of total exports with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United Arab Emirates totaled -6.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (-40.3% per year) and Egypt (-7.4% per year).

In value terms, the United Arab Emirates ($X), Kuwait ($X) and Bahrain ($X) constituted the largest markets for other chemical products exported from Saudi Arabia worldwide, together comprising 75% of total exports. Singapore, Egypt and Algeria lagged somewhat behind, together accounting for a further 14%.

Among the main countries of destination, Singapore, with a CAGR of +136.3%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average other chemical products export price stood at $X per ton in 2022, reducing by -5.3% against the previous year. In general, the export price, however, enjoyed a significant increase. The pace of growth appeared the most rapid in 2020 an increase of 92%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2021, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bahrain ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+85.6%), while the prices for the other major destinations experienced more modest paces of growth.

Other Chemical Products Imports

Imports into Saudi Arabia

In 2022, overseas purchases of other chemical products were 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 abrupt curtailment. The most prominent rate of growth was recorded in 2019 when imports increased by 172%. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, other chemical products imports skyrocketed to $X in 2022. Over the period under review, imports, however, showed a deep downturn. The pace of growth was the most pronounced in 2019 with an increase of 58%. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

The United States (X tons), China (X tons) and Italy (X tons) were the main suppliers of other chemical products imports to Saudi Arabia, together comprising 46% of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of -0.7%), while purchases for the other leaders experienced a decline.

In value terms, the United States ($X) constituted the largest supplier of other chemical products to Saudi Arabia, comprising 32% of total imports. The second position in the ranking was taken by Italy ($X), with a 14% share of total imports. It was followed by China, with a 10% share.

From 2012 to 2022, the average annual growth rate of value from the United States amounted to -3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-4.3% per year) and China (-0.8% per year).

Import Prices by Country

The average other chemical products import price stood at $X per ton in 2022, declining by -2.5% against the previous year. Over the period under review, the import price showed a pronounced reduction. The pace of growth was the most pronounced in 2020 an increase of 68%. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+9.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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