GCC: Aromatic Hydrocarbons Derivatives Market 2024

Aromatic Hydrocarbons Derivatives Market Size in GCC

After two years of growth, the GCC aromatic hydrocarbons derivatives market decreased by X% to $X in 2022. Over the period under review, consumption, however, saw a strong expansion. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Aromatic Hydrocarbons Derivatives Production in GCC

In value terms, aromatic hydrocarbons derivatives production reached $X in 2022 estimated in export price. Overall, production saw strong growth. The pace of growth was the most pronounced in 2015 with an increase of X%. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Aromatic Hydrocarbons Derivatives Exports

Exports in GCC

In 2022, shipments abroad of halogenated derivatives of aromatic hydrocarbons increased by X% to X tons, rising for the second consecutive year after two years of decline. In general, exports posted significant growth. The pace of growth was the most pronounced in 2018 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, aromatic hydrocarbons derivatives exports surged to $X in 2022. Overall, exports recorded a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United Arab Emirates prevails in exports structure, recording X tons, which was near X% of total exports in 2022. Saudi Arabia (X tons) held a relatively small share of total exports.

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

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

From 2012 to 2022, the average annual growth rate 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, with an increase of X% against the previous year. Overall, the export price saw a strong expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 Saudi Arabia ($X per ton), while the United Arab Emirates stood at $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%).

Aromatic Hydrocarbons Derivatives Imports

Imports in GCC

In 2022, aromatic hydrocarbons derivatives imports in GCC declined markedly to X tons, falling by X% against the previous year. Over the period under review, imports, however, saw prominent growth. The most prominent rate of growth was recorded in 2016 with an increase of X%. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, aromatic hydrocarbons derivatives imports reduced rapidly to $X in 2022. In general, imports, however, enjoyed a strong expansion. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then dropped notably in the following year.

Imports by Country

The United Arab Emirates dominates imports structure, amounting to X tons, which was approx. X% of total imports in 2022. Kuwait (X tons) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the halogenated derivatives of aromatic hydrocarbons imports, with a CAGR of X% from 2012 to 2022. Kuwait (X%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Kuwait (X p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported halogenated derivatives of aromatic hydrocarbons in GCC, comprising X% of total imports. The second position in the ranking was taken by Kuwait ($X), with a X% share of total imports.

In the United Arab Emirates, aromatic hydrocarbons derivatives imports expanded at an average annual rate of X% over the period from 2012-2022.

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, dropping by X% against the previous year. Over the period under review, the import price recorded a pronounced shrinkage. The most prominent rate of growth was recorded in 2017 when the import price increased by X% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2021, and then contracted markedly in the following year.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, 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%).

Source: IndexBox Platform

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