United Arab Emirates: Market for Urea Resins And Thiourea Resins In Primary Forms 2024

Market Size for Urea Resins And Thiourea Resins In Primary Forms in the United Arab Emirates

The urea and thiourea resins market in the United Arab Emirates declined to $X in 2022, which is down by -11.5% against the previous year. Over the period under review, the total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -26.7% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Production of Urea Resins And Thiourea Resins In Primary Forms in the United Arab Emirates

In value terms, urea and thiourea resins production contracted to $X in 2022 estimated in export price. Overall, the total production indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -21.7% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 53% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Exports of Urea Resins And Thiourea Resins In Primary Forms

Exports from the United Arab Emirates

In 2022, shipments abroad of urea resins and thiourea resins in primary forms decreased by -27.4% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, saw a perceptible increase. The pace of growth was the most pronounced in 2019 when exports increased by 343% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then shrank dramatically in the following year.

In value terms, urea and thiourea resins exports contracted rapidly to $X in 2022. In general, exports, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 319% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Sri Lanka (X tons), India (X tons) and Tanzania (X tons) were the main destinations of urea and thiourea resins exports from the United Arab Emirates, together comprising 90% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Tanzania (with a CAGR of +83.7%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for urea and thiourea resins exported from the United Arab Emirates were Sri Lanka ($X), India ($X) and Tanzania ($X), together accounting for 91% of total exports.

Tanzania, with a CAGR of +60.5%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average urea and thiourea resins export price stood at $X per ton in 2022, surging by 11% against the previous year. In general, export price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, urea and thiourea resins export price decreased by -39.9% against 2018 indices. The growth pace was the most rapid in 2013 when the average export price increased by 79%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Tanzania ($X per ton), while the average price for exports to Sri Lanka ($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 Cambodia (+4.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Urea Resins And Thiourea Resins In Primary Forms

Imports into the United Arab Emirates

In 2022, supplies from abroad of urea resins and thiourea resins in primary forms decreased by -30.1% to X tons, falling for the third consecutive year after three years of growth. Over the period under review, imports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of 429% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, urea and thiourea resins imports reached $X in 2022. In general, imports, however, showed a prominent increase. The growth pace was the most rapid in 2017 when imports increased by 96%. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of urea and thiourea resins to the United Arab Emirates, accounting for a 24% share of total imports. Moreover, urea and thiourea resins imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The third position in this ranking was taken by Italy (X tons), with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +33.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+9.5% per year) and Italy (+2.4% per year).

In value terms, the largest urea and thiourea resins suppliers to the United Arab Emirates were Germany ($X), China ($X) and Italy ($X), with a combined 49% share of total imports.

Among the main suppliers, China, with a CAGR of +29.3%, recorded 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 2022, the average urea and thiourea resins import price amounted to $X per ton, jumping by 45% against the previous year. Overall, the import price, however, showed a deep setback. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+4.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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