Saudi Arabia: Salt Market 2024

Salt Market Size in Saudi Arabia

In 2022, the Saudi salt market was finally on the rise to reach $X after three years of decline. Over the period under review, consumption, however, saw a slight curtailment. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Salt Production in Saudi Arabia

In value terms, salt production amounted to $X in 2022 estimated in export price. In general, production, however, saw a perceptible slump. The pace of growth was the most pronounced in 2014 with an increase of 9.4% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Salt Exports

Exports from Saudi Arabia

In 2022, overseas shipments of salt and pure sodium chloride decreased by -8.5% to X tons for the first time since 2018, thus ending a three-year rising trend. The total export volume increased at an average annual rate of +2.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 29%. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, salt exports declined to $X in 2022. Overall, exports continue to indicate a noticeable slump. The pace of growth was the most pronounced in 2016 when exports increased by 18% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Bahrain (X tons) was the main destination for salt exports from Saudi Arabia, with a 80% share of total exports. Moreover, salt exports to Bahrain exceeded the volume sent to the second major destination, Qatar (X tons), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Bahrain totaled +18.3%.

In value terms, Bahrain ($X) emerged as the key foreign market for salt and pure sodium chloride exports from Saudi Arabia, comprising 80% of total exports. The second position in the ranking was held by Qatar ($X), with a 14% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Bahrain amounted to +13.7%.

Export Prices by Country

In 2022, the average salt export price amounted to $X per ton, stabilizing at the previous year. Overall, the export price, however, showed a abrupt decrease. The most prominent rate of growth was recorded in 2014 an increase of 5.2% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Bahrain ($X per ton), while the average price for exports to Qatar amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kuwait (-2.5%), while the prices for the other major destinations experienced a decline.

Salt Imports

Imports into Saudi Arabia

In 2021, approx. X tons of salt and pure sodium chloride were imported into Saudi Arabia; waning by -30.4% against 2020 figures. In general, imports saw a perceptible shrinkage. The pace of growth was the most pronounced in 2018 with an increase of 317% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, salt imports expanded sharply to $X in 2021. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +73.2% against 2019 indices. The pace of growth was the most pronounced in 2020 when imports increased by 52% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

Egypt (X tons), Pakistan (X tons) and the United States (X tons) were the main suppliers of salt imports to Saudi Arabia, together comprising 46% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Pakistan (with a CAGR of +53.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ireland ($X), the United States ($X) and Spain ($X) were the largest salt suppliers to Saudi Arabia, with a combined 77% share of total imports. Pakistan, Egypt and the UK lagged somewhat behind, together accounting for a further 12%.

Among the main suppliers, Pakistan, with a CAGR of +51.8%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average salt import price amounted to $X per ton, surging by 63% against the previous year. Overall, the import price showed a buoyant expansion. The pace of growth was the most pronounced in 2020 when the average import price increased by 261%. The import price peaked in 2021 and is expected to retain growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+32.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :