GCC: Sorbitol Market 2024

Sorbitol Market Size in GCC

The GCC sorbitol market totaled $X in 2022, remaining constant against the previous year. Over the period under review, consumption continues to indicate a drastic downturn. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Sorbitol Production in GCC

In value terms, sorbitol production fell slightly to $X in 2022 estimated in export price. In general, production recorded a drastic downturn. The pace of growth appeared the most rapid in 2019 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Sorbitol Exports

Exports in GCC

In 2022, approx. X tons of sorbitol (excluding d-glucitol) were exported in GCC; which is down by X% compared with 2021 figures. Overall, exports, however, continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then dropped notably in the following year.

In value terms, sorbitol exports declined markedly to $X in 2022. In general, exports, however, saw a notable expansion. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, the United Arab Emirates (X tons), followed by Saudi Arabia (X tons) were the major exporters of sorbitol (excluding d-glucitol), together generating X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Saudi Arabia (with a CAGR of X%).

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

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates amounted to X%.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, declining by X% against the previous year. Over the period under review, the export price faced a deep reduction. The pace of growth appeared the most rapid in 2016 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the export prices remained at a somewhat lower figure.

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 Saudi Arabia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%).

Sorbitol Imports

Imports in GCC

In 2022, after two years of growth, there was significant decline in purchases abroad of sorbitol (excluding d-glucitol), when their volume decreased by X% to X tons. In general, imports saw a abrupt contraction. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, sorbitol imports reduced notably to $X in 2022. Over the period under review, imports showed a abrupt decline. The most prominent rate of growth was recorded in 2020 when imports increased by X%. The level of import peaked at $X in 2021, and then dropped rapidly in the following year.

Imports by Country

The United Arab Emirates was the key importer of sorbitol (excluding d-glucitol) in GCC, with the volume of imports reaching X tons, which was near X% of total imports in 2022. Qatar (X tons) held the second position in the ranking, followed by Kuwait (X tons). All these countries together held approx. X% share of total imports.

Imports into the United Arab Emirates decreased at an average annual rate of X% from 2012 to 2022. At the same time, Qatar (X%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2022. By contrast, Kuwait (X%) illustrated a downward trend over the same period. The United Arab Emirates (X p.p.), Qatar (X p.p.) and Kuwait (X p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported sorbitol (excluding d-glucitol) in GCC, comprising X% of total imports. The second position in the ranking was held by Qatar ($X), with a X% share of total imports.

In the United Arab Emirates, sorbitol imports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Qatar (X% per year) and Kuwait (X% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the import price posted a perceptible expansion. The pace of growth was the most pronounced in 2015 when the import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2016 to 2022, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, 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 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform