GCC: Herbicide Market 2024

Herbicide Market Size in GCC

In 2022, the GCC herbicide market decreased by X% to $X, falling for the second year in a row after three years of growth. The total consumption indicated a temperate 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, consumption decreased by X% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Herbicide Production in GCC

In value terms, herbicide production reached $X in 2022 estimated in export price. Overall, production showed buoyant growth. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Herbicide Exports

Exports in GCC

For the fourth year in a row, GCC recorded growth in overseas shipments of herbicides, which increased by X% to X tons in 2022. Overall, exports saw a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in years to come.

In value terms, herbicide exports surged to $X in 2022. In general, exports showed strong growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Exports by Country

The United Arab Emirates prevails in exports structure, recording X tons, which was approx. X% of total exports in 2022. It was distantly followed by Saudi Arabia (X tons), achieving a X% share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the herbicides exports, with a CAGR of X% from 2012 to 2022. Saudi Arabia (X%) illustrated a downward trend over the same period. The United Arab Emirates (X p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia saw its share reduced by X% from 2012 to 2022, respectively.

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

In the United Arab Emirates, herbicide exports expanded at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, dropping by X% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: 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 Saudi Arabia (X%).

Herbicide Imports

Imports in GCC

In 2022, after two years of growth, there was significant decline in purchases abroad of herbicides, when their volume decreased by X% to X tons. In general, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2021, and then contracted in the following year.

In value terms, herbicide imports fell rapidly to $X in 2022. Overall, imports showed a relatively flat trend pattern. 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 declined markedly in the following year.

Imports by Country

Saudi Arabia represented the largest importing country with an import of about X tons, which reached X% of total imports. It was distantly followed by the United Arab Emirates (X tons), committing a X% share of total imports. Oman (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of X%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported herbicides in GCC, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Saudi Arabia stood at X%. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Oman (X% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2019; however, from 2020 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 Saudi Arabia ($X per ton), while Oman ($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 mixed trends in the import price figures.

Source: IndexBox Platform

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