GCC: Cement Market 2024

Cement Market Size in GCC

The GCC cement market dropped to $X in 2023, remaining relatively unchanged against the previous year. In general, consumption recorded a slight downturn. Over the period under review, the market attained the peak level at $X in 2015; however, from 2016 to 2023, consumption failed to regain momentum.

Cement Production in GCC

In value terms, cement production dropped slightly to $X in 2023 estimated in export price. Over the period under review, production continues to indicate a slight decrease. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The level of production peaked at $X in 2015; however, from 2016 to 2023, production stood at a somewhat lower figure.

Cement Exports

Exports in GCC

In 2023, shipments abroad of cement increased by X% to X tons for the first time since 2015, thus ending a seven-year declining trend. In general, exports, however, continue to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2013 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2014 to 2023, the growth of the exports remained at a lower figure.

In value terms, cement exports declined slightly to $X in 2023. Overall, exports, however, showed a perceptible reduction. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2023, the exports failed to regain momentum.

Exports by Country

In 2023, the United Arab Emirates (X tons) was the major exporter of cement, creating X% of total exports. It was distantly followed by Saudi Arabia (X tons) and Oman (X tons), together making up a X% share of total exports.

Exports from the United Arab Emirates decreased at an average annual rate of X% from 2012 to 2023. At the same time, Saudi Arabia (X%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2023. By contrast, Oman (X%) illustrated a downward trend over the same period. While the share of Saudi Arabia (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of the United Arab Emirates (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In the United Arab Emirates, cement exports plunged by an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Saudi Arabia (X% per year) and Oman (X% per year).

Export Prices by Country

In 2023, the export price in GCC amounted to $X per ton, dropping by X% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton, and then declined dramatically in the following year.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced a decline in the export price figures.

Cement Imports

Imports in GCC

After seven years of decline, supplies from abroad of cement increased by X% to X tons in 2023. In general, imports, however, continue to indicate a drastic downturn. 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 2023, the growth of imports failed to regain momentum.

In value terms, cement imports surged to $X in 2023. Overall, imports, however, saw a deep reduction. The most prominent rate of growth was recorded in 2015 with an increase of X%. As a result, imports reached the peak of $X. From 2016 to 2023, the growth of imports remained at a lower figure.

Imports by Country

The purchases of the three major importers of cement, namely Oman, Kuwait and Bahrain, represented more than two-thirds of total import. Qatar (X tons), Saudi Arabia (X tons) and the United Arab Emirates (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Qatar (with a CAGR of X%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, Oman ($X), Kuwait ($X) and Bahrain ($X) were the countries with the highest levels of imports in 2023, with a combined X% share of total imports. The United Arab Emirates, Saudi Arabia and Qatar lagged somewhat behind, together comprising a further X%.

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

Import Prices by Country

The import price in GCC stood at $X per ton in 2023, reducing by X% against the previous year. Over the period under review, the import price continues to indicate a perceptible slump. The pace of growth was the most pronounced in 2014 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2023, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, 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 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform