Saudi Arabia: Fuse And Detonator Market 2024

Fuse And Detonator Market Size in Saudi Arabia

In 2021, the Saudi fuse and detonator market decreased by -2% to $X for the first time since 2015, thus ending a five-year rising trend. In general, consumption continues to indicate a strong increase. Over the period under review, the market reached the peak level at $X in 2020, and then shrank in the following year.

Fuse And Detonator Production in Saudi Arabia

In value terms, fuse and detonator production reduced slightly to $X in 2021 estimated in export price. In general, production recorded a buoyant expansion. The most prominent rate of growth was recorded in 2018 when the production volume increased by 51%. Fuse and detonator production peaked at $X in 2020, and then contracted modestly in the following year.

Fuse And Detonator Exports

Exports from Saudi Arabia

In 2021, shipments abroad of safety fuses, detonating fuses and electric detonators decreased by -8.6% to X tons, falling for the second consecutive year after eight years of growth. Over the period under review, exports, however, showed a significant expansion. The pace of growth appeared the most rapid in 2014 when exports increased by 469%. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, fuse and detonator exports expanded to $X in 2021. Overall, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 316%. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Kuwait (X tons) was the main destination for fuse and detonator exports from Saudi Arabia, accounting for a 73% share of total exports. Moreover, fuse and detonator exports to Kuwait exceeded the volume sent to the second major destination, Sudan (X tons), threefold.

From 2012 to 2021, the average annual growth rate of volume to Kuwait amounted to +16.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sudan (+25.5% per year) and Bahrain (-54.2% per year).

In value terms, Kuwait ($X) emerged as the key foreign market for safety fuses, detonating fuses and electric detonators exports from Saudi Arabia, comprising 75% of total exports. The second position in the ranking was taken by Sudan ($X), with a 25% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Kuwait totaled +17.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sudan (+28.9% per year) and Bahrain (-47.4% per year).

Export Prices by Country

The average fuse and detonator export price stood at $X per ton in 2021, surging by 11% against the previous year. Overall, the export price, however, showed a abrupt descent. The most prominent rate of growth was recorded in 2020 when the average export price increased by 157% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 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 Kuwait ($X per ton), while the average price for exports to Bahrain ($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 (+22.6%), while the prices for the other major destinations experienced more modest paces of growth.

Fuse And Detonator Imports

Imports into Saudi Arabia

After three years of growth, purchases abroad of safety fuses, detonating fuses and electric detonators decreased by -23.6% to X tons in 2021. Overall, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when imports increased by 333%. Over the period under review, imports reached the maximum at X tons in 2020, and then dropped markedly in the following year.

In value terms, fuse and detonator imports declined to $X in 2021. Over the period under review, imports recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2018 when imports increased by 211%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

India (X tons), Switzerland (X tons) and South Korea (X tons) were the main suppliers of fuse and detonator imports to Saudi Arabia, together comprising 77% of total imports.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +36.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest fuse and detonator suppliers to Saudi Arabia were the United States ($X), the Czech Republic ($X) and South Korea ($X), together comprising 57% of total imports.

South Korea, with a CAGR of +35.6%, recorded 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 fuse and detonator import price stood at $X per ton in 2021, increasing by 26% against the previous year. Overall, the import price, however, continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2015 an increase of 57%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+16.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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