GCC: Carbonate Market 2024

Carbonate Market Size in GCC

The GCC carbonate market skyrocketed to $X in 2022, rising by X% against the previous year. Overall, consumption, however, showed a prominent increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Carbonate Production in GCC

In value terms, carbonate production expanded notably to $X in 2022 estimated in export price. Over the period under review, production recorded buoyant growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Carbonate Exports

Exports in GCC

In 2022, shipments abroad of carbonates and peroxocarbonates increased by X% to X tons, rising for the sixth year in a row after two years of decline. In general, exports saw a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of X%. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, carbonate exports skyrocketed to $X in 2022. Overall, exports continue to indicate a significant increase. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the near future.

Exports by Country

Saudi Arabia was the largest exporter of carbonates and peroxocarbonates in GCC, with the volume of exports resulting at X tons, which was approx. X% of total exports in 2022. It was distantly followed by the United Arab Emirates (X tons) and Oman (X tons), together generating a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to carbonate exports from Saudi Arabia stood at X%. At the same time, Oman (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2022. Saudi Arabia (X p.p.) and Oman (X p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, the largest carbonate supplying countries in GCC were the United Arab Emirates ($X), Saudi Arabia ($X) and Oman ($X), with a combined X% share of total exports.

Among the main exporting countries, Saudi Arabia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, waning by X% against the previous year. Over the period under review, the export price continues to indicate a slight decrease. The growth pace was the most rapid in 2014 an increase of X% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the other leaders experienced a decline in the export price figures.

Carbonate Imports

Imports in GCC

In 2022, approx. X tons of carbonates and peroxocarbonates were imported in GCC; increasing by X% on the year before. 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 in certain years. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, carbonate imports totaled $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 with an increase of X%. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, the United Arab Emirates (X tons) was the largest importer of carbonates and peroxocarbonates, achieving X% of total imports. Kuwait (X tons) held the second position in the ranking, distantly followed by Oman (X tons) and Qatar (X tons). All these countries together held approx. X% share of total imports. Bahrain (X tons) took a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Kuwait (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Kuwait ($X) and Oman ($X) were the countries with the highest levels of imports in 2022, together comprising X% of total imports.

Kuwait, with a CAGR of X%, saw the highest growth rate of 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

The import price in GCC stood at $X per ton in 2022, rising by X% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Oman ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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