GCC's Bromides and Bromide Oxides, Iodides and Iodide Oxides Market to Grow at +1.0% CAGR through 2035

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The market for bromides and bromide oxides, iodides and iodide oxides in the GCC is expected to grow steadily, with a forecasted increase in market volume and value by the end of 2035. Market performance is anticipated to decelerate, with a projected CAGR of +1.0% for volume and +3.8% for value from 2024 to 2035.

Market Forecast

Driven by increasing demand for bromides and bromide oxides, iodides and iodide oxides in GCC, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +1.0% for the period from 2024 to 2035, which is projected to bring the market volume to 88K tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.8% for the period from 2024 to 2035, which is projected to bring the market value to $293M (in nominal wholesale prices) by the end of 2035.

Consumption

GCC's Consumption of Bromides And Bromide Oxides, Iodides And Iodide Oxides

In 2024, after two years of growth, there was significant decline in consumption of bromides and bromide oxides, iodides and iodide oxides, when its volume decreased by -9.4% to 78K tons. In general, consumption, however, posted a buoyant expansion. The volume of consumption peaked at 86K tons in 2023, and then dropped in the following year.

The revenue of the market for bromides and bromide oxides, iodides and iodide oxides in GCC reduced rapidly to $194M in 2024, shrinking by -16.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, saw buoyant growth. The level of consumption peaked at $233M in 2023, and then shrank rapidly in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2024 were Saudi Arabia (49K tons), the United Arab Emirates (26K tons) and Qatar (1.3K tons), with a combined 98% share of total consumption.

From 2013 to 2024, the biggest increases were recorded for Qatar (with a CAGR of +15.6%), while consumption for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($105M) led the market, alone. The second position in the ranking was held by the United Arab Emirates ($50M).

In Saudi Arabia, the bromides, iodides and oxids thereof market expanded at an average annual rate of +5.4% over the period from 2013-2024. The remaining consuming countries recorded the following average annual rates of market growth: the United Arab Emirates (+10.9% per year) and Qatar (+43.0% per year).

The countries with the highest levels of bromides, iodides and oxids thereof per capita consumption in 2024 were the United Arab Emirates (2.6 kg per person), Saudi Arabia (1.3 kg per person) and Qatar (0.4 kg per person).

From 2013 to 2024, the biggest increases were recorded for Qatar (with a CAGR of +12.8%), while consumption for the other leaders experienced more modest paces of growth.

Production

GCC's Production of Bromides And Bromide Oxides, Iodides And Iodide Oxides

In 2024, production of bromides and bromide oxides, iodides and iodide oxides decreased by -15.2% to 1.6K tons for the first time since 2021, thus ending a two-year rising trend. Over the period under review, production, however, posted a strong expansion. The pace of growth appeared the most rapid in 2019 with an increase of 113%. The volume of production peaked at 1.8K tons in 2023, and then contracted rapidly in the following year.

In value terms, bromides, iodides and oxids thereof production fell dramatically to $3.6M in 2024 estimated in export price. Overall, production, however, showed a buoyant expansion. The growth pace was the most rapid in 2019 when the production volume increased by 140%. The level of production peaked at $4.4M in 2023, and then shrank sharply in the following year.

Production By Country

The countries with the highest volumes of production in 2024 were Oman (1K tons) and Kuwait (548 tons).

From 2013 to 2024, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by Oman (with a CAGR of +49.0%).

Imports

GCC's Imports of Bromides And Bromide Oxides, Iodides And Iodide Oxides

After two years of growth, purchases abroad of bromides and bromide oxides, iodides and iodide oxides decreased by -10.2% to 78K tons in 2024. In general, imports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2022 when imports increased by 78% against the previous year. Over the period under review, imports hit record highs at 87K tons in 2023, and then shrank in the following year.

In value terms, bromides, iodides and oxids thereof imports dropped dramatically to $203M in 2024. Overall, imports, however, recorded strong growth. The pace of growth was the most pronounced in 2022 when imports increased by 109%. Over the period under review, imports attained the maximum at $270M in 2023, and then reduced notably in the following year.

Imports By Country

In 2024, Saudi Arabia (49K tons) was the major importer of bromides and bromide oxides, iodides and iodide oxides, achieving 63% of total imports. It was distantly followed by the United Arab Emirates (27K tons), creating a 35% share of total imports. Qatar (1.3K tons) took a minor share of total imports.

From 2013 to 2024, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Qatar (with a CAGR of +15.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($109M), the United Arab Emirates ($56M) and Qatar ($37M) were the countries with the highest levels of imports in 2024, together comprising 99% of total imports.

Qatar, with a CAGR of +43.0%, recorded the highest rates of growth with regard to 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

In 2024, the import price in GCC amounted to $2,586 per ton, with a decrease of -16.2% against the previous year. Import price indicated a moderate increase from 2013 to 2024: its price increased at an average annual rate of +3.2% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, bromides, iodides and oxids thereof import price increased by +33.4% against 2021 indices. The growth pace was the most rapid in 2023 when the import price increased by 36%. As a result, import price attained the peak level of $3,085 per ton, and then reduced notably in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2024, amid the top importers, the country with the highest price was Qatar ($28,826 per ton), while the United Arab Emirates ($2,047 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Qatar (+23.6%), while the other leaders experienced more modest paces of growth.

Exports

GCC's Exports of Bromides And Bromide Oxides, Iodides And Iodide Oxides

In 2024, overseas shipments of bromides and bromide oxides, iodides and iodide oxides decreased by -39.7% to 1.7K tons for the first time since 2021, thus ending a two-year rising trend. In general, exports, however, enjoyed strong growth. The pace of growth was the most pronounced in 2020 when exports increased by 221%. The volume of export peaked at 2.9K tons in 2023, and then fell remarkably in the following year.

In value terms, bromides, iodides and oxids thereof exports declined rapidly to $3.3M in 2024. Over the period under review, exports, however, showed a resilient increase. The pace of growth appeared the most rapid in 2023 when exports increased by 163% against the previous year. As a result, the exports attained the peak of $6.5M, and then fell sharply in the following year.

Exports By Country

The United Arab Emirates represented the key exporting country with an export of about 1.2K tons, which resulted at 69% of total exports. It was distantly followed by Oman (368 tons) and Saudi Arabia (174 tons), together making up a 31% share of total exports.

From 2013 to 2024, average annual rates of growth with regard to bromides, iodides and oxids thereof exports from the United Arab Emirates stood at +4.7%. At the same time, Oman (+70.3%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +70.3% from 2013-2024. By contrast, Saudi Arabia (-19.0%) illustrated a downward trend over the same period. Oman (+21 p.p.) and Saudi Arabia (+10 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -31% from 2013 to 2024, respectively.

In value terms, the United Arab Emirates ($2.2M) emerged as the largest bromides, iodides and oxids thereof supplier in GCC, comprising 66% of total exports. The second position in the ranking was taken by Oman ($683K), with a 21% share of total exports.

In the United Arab Emirates, bromides, iodides and oxids thereof exports expanded at an average annual rate of +2.3% over the period from 2013-2024. In the other countries, the average annual rates were as follows: Oman (+36.9% per year) and Saudi Arabia (-17.7% per year).

Export Prices By Country

The export price in GCC stood at $1,905 per ton in 2024, falling by -15.9% against the previous year. In general, the export price showed a pronounced reduction. The most prominent rate of growth was recorded in 2018 when the export price increased by 45%. As a result, the export price attained the peak level of $2,868 per ton. From 2019 to 2024, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2024, amid the top suppliers, the country with the highest price was Saudi Arabia ($2,501 per ton), while the United Arab Emirates ($1,828 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+1.6%), while the other leaders experienced a decline in the export price figures.