GCC: Amino Resin Market 2024

Amino Resin Market Size in GCC

In 2022, the GCC amino resin market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. In general, consumption, however, recorded buoyant growth. As a result, consumption attained the peak level of $X, and then fell in the following year.

Amino Resin Production in GCC

In value terms, amino resin production expanded modestly to $X in 2022 estimated in export price. Over the period under review, production posted a resilient increase. The pace of growth appeared the most rapid in 2018 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Amino Resin Exports

Exports in GCC

In 2022, approx. X tons of amino resins were exported in GCC; increasing by X% on the previous year's figure. In general, exports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, amino resin exports skyrocketed to $X in 2022. Over the period under review, exports showed prominent growth. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Saudi Arabia represented the largest exporter of amino resins in GCC, with the volume of exports accounting for X tons, which was approx. X% of total exports in 2022. It was distantly followed by the United Arab Emirates (X tons), mixing up a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to amino resin exports from Saudi Arabia stood at X%. At the same time, the United Arab Emirates (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 2012-2022. While the share of the United Arab Emirates (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Saudi Arabia (X p.p.) displayed negative dynamics.

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

From 2012 to 2022, the average annual rate of growth in terms of value in Saudi Arabia totaled X%.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the export price, however, showed a drastic downturn. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a 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 totaled $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%).

Amino Resin Imports

Imports in GCC

In 2022, purchases abroad of amino resins increased by X% to X tons, rising for the fourth consecutive year after two years of decline. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, amino resin imports skyrocketed to $X in 2022. Total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of import peaked in 2022 and is likely to continue growth in the immediate term.

Imports by Country

The United Arab Emirates prevails in imports structure, finishing at X tons, which was near X% of total imports in 2022. It was distantly followed by Saudi Arabia (X tons), constituting a X% share of total imports. Kuwait (X tons) and Qatar (X tons) took a minor share of total imports.

Imports into the United Arab Emirates increased at an average annual rate of X% from 2012 to 2022. At the same time, Qatar (X%) and Saudi Arabia (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. Kuwait experienced a relatively flat trend pattern. Kuwait (X p.p.) and Qatar (X p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported amino resins in GCC, comprising X% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a X% share of total imports. It was followed by Kuwait, with a X% share.

In the United Arab Emirates, amino resin imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Saudi Arabia (X% per year) and Kuwait (X% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, with an increase of X% against the previous year. Import price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, amino resin import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices reached the peak figure in 2022 and is likely to see gradual growth in years to come.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Qatar ($X per ton) and Kuwait ($X per ton), while Saudi Arabia ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.

From 2012 to 2022, 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