GCC: Baking Soda Market 2024

Baking Soda Market Size in GCC

The GCC baking soda market reached $X in 2022, surging by X% against the previous year. Overall, consumption showed a buoyant increase. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Baking Soda Production in GCC

In value terms, baking soda production amounted to $X in 2022 estimated in export price. Over the period under review, production enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Baking Soda Exports

Exports in GCC

In 2022, the amount of baking soda exported in GCC fell rapidly to X tons, shrinking by X% on the year before. Over the period under review, exports, however, saw prominent growth. The growth pace was the most rapid in 2019 with an increase of X%. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, baking soda exports rose sharply to $X in 2022. Overall, exports, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2019 with an increase of X%. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United Arab Emirates dominates exports structure, recording X tons, which was near X% of total exports in 2022. Kuwait (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to baking soda exports from the United Arab Emirates stood at X%. At the same time, Kuwait (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2022. The United Arab Emirates (X p.p.) and Kuwait (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest baking soda supplier in GCC, comprising X% of total exports. The second position in the ranking was held by Kuwait ($X), with a X% share of total exports.

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

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, picking up by X% against the previous year. Export price indicated tangible 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, baking soda export price increased by X% against 2019 indices. Over the period under review, the export prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, the export prices stood 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 Kuwait 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%).

Baking Soda Imports

Imports in GCC

In 2022, purchases abroad of baking soda decreased by X% to X tons, falling for the third consecutive year after two years of growth. Over the period under review, imports showed a slight decrease. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, baking soda imports soared to $X in 2022. Total imports indicated a mild expansion 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 decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United Arab Emirates (X tons) was the major importer of baking soda, constituting X% of total imports. It was distantly followed by Kuwait (X tons), Qatar (X tons) and Oman (X tons), together creating a X% share of total imports. Bahrain (X tons) took a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to baking soda imports into the United Arab Emirates stood at X%. At the same time, Qatar (X%) and Kuwait (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. Bahrain experienced a relatively flat trend pattern. By contrast, Oman (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates, Kuwait and Qatar increased by X, X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest baking soda importing markets in GCC were the United Arab Emirates ($X), Kuwait ($X) and Qatar ($X), together accounting for X% of total imports.

Among the main importing countries, Qatar, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, jumping by X% against the previous year. Over the period under review, the import price saw a pronounced increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kuwait ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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