GCC: Colloidal Precious Metals Market 2024

Colloidal Precious Metals Market Size in GCC

The GCC colloidal precious metals market contracted significantly to $X in 2023, dropping by X% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. The level of consumption peaked at $X in 2017; however, from 2018 to 2023, consumption failed to regain momentum.

Colloidal Precious Metals Production in GCC

In value terms, colloidal precious metals production amounted to $X in 2023 estimated in export price. The total production indicated prominent growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2023, production remained at a lower figure.

Colloidal Precious Metals Exports

Exports in GCC

In 2023, the amount of colloidal precious metals, compounds and amalgams of precious metals (excluding silver nitrate) exported in GCC soared to X tons, picking up by X% against 2022 figures. Over the period under review, exports continue to indicate significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, colloidal precious metals exports surged to $X in 2023. In general, exports posted a significant expansion. Over the period under review, the exports reached the maximum at $X in 2020; however, from 2021 to 2023, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates was the main exporting country with an export of around X tons, which recorded X% of total exports. It was distantly followed by Saudi Arabia (X tons), constituting a X% share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the colloidal precious metals, compounds and amalgams of precious metals (excluding silver nitrate) exports, with a CAGR of X% from 2012 to 2023. At the same time, Saudi Arabia (X%) displayed positive paces of growth. While the share of the United Arab Emirates (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Saudi Arabia (X p.p.) displayed negative dynamics.

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

In the United Arab Emirates, colloidal precious metals exports expanded at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

The export price in GCC stood at $X per kg in 2023, dropping by X% against the previous year. Overall, the export price saw a abrupt descent. The most prominent rate of growth was recorded in 2013 when the export price increased by X%. Over the period under review, the export prices attained the peak figure at $X per kg in 2019; however, from 2020 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per kg), while Saudi Arabia totaled $X per kg.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%).

Colloidal Precious Metals Imports

Imports in GCC

For the third year in a row, GCC recorded growth in purchases abroad of colloidal precious metals, compounds and amalgams of precious metals (excluding silver nitrate), which increased by X% to X tons in 2023. Over the period under review, imports posted a prominent increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, colloidal precious metals imports soared to $X in 2023. In general, imports enjoyed buoyant growth. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, Qatar (X tons) was the key importer of colloidal precious metals, compounds and amalgams of precious metals (excluding silver nitrate), achieving X% of total imports. It was distantly followed by the United Arab Emirates (X tons), committing a X% share of total imports.

Qatar was also the fastest-growing in terms of the colloidal precious metals, compounds and amalgams of precious metals (excluding silver nitrate) imports, with a CAGR of X% from 2012 to 2023. At the same time, the United Arab Emirates (X%) displayed positive paces of growth. While the share of Qatar (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of the United Arab Emirates (X p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported colloidal precious metals, compounds and amalgams of precious metals (excluding silver nitrate) in GCC, comprising X% of total imports. The second position in the ranking was taken by Qatar ($X), with a X% share of total imports.

From 2012 to 2023, the average annual rate of growth in terms of value in the United Arab Emirates stood at X%.

Import Prices by Country

In 2023, the import price in GCC amounted to $X per kg, waning by X% against the previous year. In general, the import price continues to indicate a deep downturn. The pace of growth was the most pronounced in 2015 when the import price increased by X%. The level of import peaked at $X per kg in 2021; however, from 2022 to 2023, 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 kg), while Qatar totaled $X per kg.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%).

Source: IndexBox Platform