GCC: Alcohols Market 2024

Alcohols Market Size in GCC

In 2020, the GCC alcohols market decreased by X% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption showed a pronounced decline. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2020, consumption stood at a somewhat lower figure.

Alcohols Production in GCC

In value terms, alcohols production expanded remarkably to $X in 2020 estimated in export price. In general, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the production volume increased by X% against the previous year. The level of production peaked in 2020 and is likely to continue growth in years to come.

Alcohols Exports

Exports in GCC

In 2020, alcohols exports in GCC skyrocketed to X tons, growing by X% compared with 2019. Total exports indicated temperate growth from 2012 to 2020: its volume increased at an average annual rate of X% over the last eight years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, exports increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2019 when exports increased by X%. Over the period under review, the exports reached the maximum in 2020 and are likely to see gradual growth in years to come.

In value terms, alcohols exports rose to $X in 2020. In general, exports, however, continue to indicate a pronounced reduction. The pace of growth was the most pronounced in 2018 when exports increased by X%. The level of export peaked at $X in 2012; however, from 2013 to 2020, the exports failed to regain momentum.

Exports by Country

Saudi Arabia represented the major exporter of alcohols and their halogenated, sulphonated, nitrated or nitrosated derivatives in GCC, with the volume of exports resulting at X tons, which was approx. X% of total exports in 2020. Oman (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by the United Arab Emirates (X%) and Kuwait (X%). Bahrain (X tons) followed a long way behind the leaders.

Exports from Saudi Arabia increased at an average annual rate of X% from 2012 to 2020. At the same time, the United Arab Emirates (X%), Oman (X%), Bahrain (X%) and Kuwait (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2020. While the share of Oman (X p.p.) and the United Arab Emirates (X p.p.) increased significantly in terms of the total exports from 2012-2020, the share of Saudi Arabia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest alcohols supplier in GCC, comprising X% of total exports. The second position in the ranking was held by Oman ($X), with a X% share of total exports. It was followed by Kuwait, with an X% share.

From 2012 to 2020, the average annual rate of growth in terms of value in Saudi Arabia stood at X%. In the other countries, the average annual rates were as follows: Oman (X% per year) and Kuwait (X% per year).

Export Prices by Country

In 2020, the export price in GCC amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the export price continues to indicate a deep reduction. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2020, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2020, amid the top suppliers, the country with the highest price was Kuwait ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2020, 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.

Alcohols Imports

Imports in GCC

In 2020, alcohols imports in GCC shrank markedly to X tons, declining by X% compared with 2019. In general, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2019, and then dropped markedly in the following year.

In value terms, alcohols imports shrank to $X in 2020. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2020, imports remained at a lower figure.

Imports by Country

The United Arab Emirates (X tons) and Oman (X tons) dominates imports structure, together constituting X% of total imports. It was distantly followed by Saudi Arabia (X tons), constituting a X% share of total imports.

From 2012 to 2020, the biggest increases were recorded for Oman (with a CAGR of X%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, Oman ($X), the United Arab Emirates ($X) and Saudi Arabia ($X) appeared to be the countries with the highest levels of imports in 2020, with a combined X% share of total imports.

Oman, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2020, the import price in GCC amounted to $X per ton, jumping by X% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. Over the period under review, import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2020, import prices stood at a somewhat lower figure.

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

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by Oman (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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