GCC: Carbonate Market 2024

Carbonate Market Size in GCC

The GCC carbonate market was finally on the rise to reach $X in 2023, after three years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2016 to 2023, the growth of the market remained at a lower figure.

Carbonate Production in GCC

In value terms, carbonate production fell modestly to $X in 2023 estimated in export price. Overall, production, however, continues to indicate a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2023, production remained at a lower figure.

Carbonate Exports

Exports in GCC

In 2023, the amount of carbonates and peroxocarbonates exported in GCC fell to X tons, reducing by X% on 2022. Over the period under review, exports, however, posted a remarkable increase. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2020; however, from 2021 to 2023, the exports failed to regain momentum.

In value terms, carbonate exports fell to $X in 2023. Overall, exports, however, showed prominent growth. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The level of export peaked at $X in 2022, and then declined in the following year.

Exports by Country

The United Arab Emirates was the largest exporter of carbonates and peroxocarbonates in GCC, with the volume of exports amounting to X tons, which was approx. X% of total exports in 2023. Saudi Arabia (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Oman (X%).

Exports from the United Arab Emirates increased at an average annual rate of X% from 2012 to 2023. At the same time, Oman (X%) and Saudi Arabia (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2023. The United Arab Emirates (X p.p.) and Oman (X p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, the United Arab Emirates ($X) remains the largest carbonate supplier in GCC, comprising X% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with an X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in the United Arab Emirates amounted to X%. In the other countries, the average annual rates were as follows: Saudi Arabia (X% per year) and Oman (X% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2023, falling by X% against the previous year. Export price indicated tangible growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, carbonate export price increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2022, and then fell in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the other leaders experienced a decline in the export price figures.

Carbonate Imports

Imports in GCC

In 2023, after three years of decline, there was significant growth in overseas purchases of carbonates and peroxocarbonates, when their volume increased by X% to X tons. Over the period under review, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by X%. As a result, imports attained the peak of X tons. From 2016 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, carbonate imports rose sharply to $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when imports increased by X%. As a result, imports attained the peak of $X. From 2016 to 2023, the growth of imports failed to regain momentum.

Imports by Country

Saudi Arabia represented the largest importer of carbonates and peroxocarbonates in GCC, with the volume of imports amounting to X tons, which was near X% of total imports in 2023. The United Arab Emirates (X tons) took the second position in the ranking, distantly followed by Oman (X tons), Qatar (X tons) and Kuwait (X tons). All these countries together held approx. X% share of total imports. Bahrain (X tons) took a relatively small share of total imports.

From 2012 to 2023, the biggest increases were recorded for Qatar (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Qatar ($X) appeared to be the countries with the highest levels of imports in 2023, with a combined X% share of total imports.

Qatar, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in GCC stood at $X per ton in 2023, with a decrease of X% against the previous year. Overall, the import price, however, recorded a modest increase. The most prominent rate of growth was recorded in 2022 when the import price increased by X%. As a result, import price reached the peak level of $X per ton, and then reduced modestly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Qatar ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Qatar (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform