GCC: Market for Ready-Mixed Concrete And Factory Made Mortars 2024

Market Size for Ready-Mixed Concrete And Factory Made Mortars in GCC

The GCC market for ready-mixed concrete and factory made mortars dropped to $X in 2023, with a decrease of X% against the previous year. Overall, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2023, consumption failed to regain momentum.

Production of Ready-Mixed Concrete And Factory Made Mortars in GCC

In value terms, production of ready-mixed concrete and factory made mortars declined to $X in 2023 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the production volume increased by X%. Over the period under review, production of reached the maximum level at $X in 2020; however, from 2021 to 2023, production remained at a lower figure.

Exports of Ready-Mixed Concrete And Factory Made Mortars

Exports in GCC

Exports of ready-mixed concrete and factory made mortars reached X tons in 2023, growing by X% on 2022 figures. In general, exports showed a strong increase. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2016; however, from 2017 to 2023, the exports failed to regain momentum.

In value terms, exports of ready-mixed concrete and factory made mortars dropped slightly to $X in 2023. Over the period under review, exports posted prominent growth. The most prominent rate of growth was recorded in 2013 when exports increased by X%. Over the period under review, the exports of reached the peak figure at $X in 2016; however, from 2017 to 2023, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates prevails in mortars structure, recording X tons, which was approx. X% of total exports in 2023. Saudi Arabia (X tons) and Qatar (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to ready-mixed concrete and factory made mortar exports from the United Arab Emirates stood at X%. At the same time, Saudi Arabia (X%) and Qatar (X%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of Qatar and Saudi Arabia increased by X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest ready-mixed concrete and factory made mortar supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 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 Qatar (X% per year).

Export Prices by Country

In 2023, the export price in GCC amounted to $X per ton, waning by X% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2022 an increase of X% against the previous year. The level of export peaked at $X per ton in 2015; however, from 2016 to 2023, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Qatar ($X per ton) was amongst the lowest.

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

Imports of Ready-Mixed Concrete And Factory Made Mortars

Imports in GCC

In 2023, after two years of growth, there was significant decline in supplies from abroad of ready-mixed concrete and factory made mortars, when their volume decreased by X% to X tons. Total imports indicated a tangible increase from 2012 to 2023: its volume 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, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2022 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2023, imports remained at a lower figure.

In value terms, imports of ready-mixed concrete and factory made mortars contracted significantly to $X in 2023. Overall, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2022 with an increase of X%. The level of import peaked at $X in 2015; however, from 2016 to 2023, imports failed to regain momentum.

Imports by Country

Kuwait represented the largest importing country with an import of about X tons, which reached X% of total imports. It was distantly followed by Oman (X tons), the United Arab Emirates (X tons) and Qatar (X tons), together committing a X% share of total imports. Bahrain (X tons) followed a long way behind the leaders.

Kuwait was also the fastest-growing in terms of the ready-mixed concrete and factory made mortars imports, with a CAGR of X% from 2012 to 2023. At the same time, Oman (X%) and the United Arab Emirates (X%) displayed positive paces of growth. By contrast, Bahrain (X%) and Qatar (X%) illustrated a downward trend over the same period. While the share of Kuwait (X p.p.) and Oman (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Bahrain (X p.p.) and Qatar (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Kuwait ($X) constitutes the largest market for imported ready-mixed concrete and factory made mortars in GCC, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Qatar, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Kuwait totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Qatar (X% per year).

Import Prices by Country

In 2023, the import price in GCC amounted to $X per ton, growing by X% against the previous year. Over the period under review, the import price, however, showed a pronounced contraction. The growth pace was the most rapid in 2021 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, 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 Bahrain (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform