GCC: Heterocyclic Compound Market 2024

Heterocyclic Compound Market Size in GCC

The GCC heterocyclic compound market reached $X in 2023, flattening at the previous year. Over the period under review, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2020 to 2023, the growth of the market remained at a lower figure.

Heterocyclic Compound Production in GCC

In value terms, heterocyclic compound production stood at $X in 2023 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of X%. As a result, production attained the peak level of $X. From 2020 to 2023, production growth remained at a lower figure.

Heterocyclic Compound Exports

Exports in GCC

After two years of growth, shipments abroad of heterocyclic compounds decreased by X% to X tons in 2023. Overall, exports, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2023, the exports stood at a somewhat lower figure.

In value terms, heterocyclic compound exports reached $X in 2023. Over the period under review, exports, however, showed a pronounced expansion. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

Exports by Country

In 2023, the United Arab Emirates (X tons) was the main exporter of heterocyclic compounds, making up X% of total exports. It was distantly followed by Oman (X tons), constituting a X% share of total exports. Saudi Arabia (X tons) and Bahrain (X tons) held a relatively small share of total exports.

Exports from the United Arab Emirates increased at an average annual rate of X% from 2012 to 2023. At the same time, Oman (X%), Bahrain (X%) and Saudi Arabia (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2023. While the share of Oman (X p.p.) and Bahrain (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of the United Arab Emirates (X p.p.) and Saudi Arabia (X p.p.) displayed negative dynamics.

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

From 2012 to 2023, the average annual growth rate of value in the United Arab Emirates totaled X%. In the other countries, the average annual rates were as follows: Oman (X% per year) and Saudi Arabia (X% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2023, increasing by X% against the previous year. In general, the export price, however, recorded a deep reduction. The most prominent rate of growth was recorded in 2018 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices stood at a somewhat 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 Oman ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

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

Heterocyclic Compound Imports

Imports in GCC

In 2023, supplies from abroad of heterocyclic compounds increased by X% to X tons for the first time since 2020, thus ending a two-year declining trend. Over the period under review, imports continue to indicate tangible growth. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2023, imports remained at a lower figure.

In value terms, heterocyclic compound imports surged to $X in 2023. Overall, imports showed a relatively flat trend pattern. The level of import peaked at $X in 2021; however, from 2022 to 2023, imports failed to regain momentum.

Imports by Country

The United Arab Emirates was the largest importer of heterocyclic compounds in GCC, with the volume of imports reaching X tons, which was near X% of total imports in 2023. Kuwait (X tons) held the second position in the ranking, followed by Saudi Arabia (X tons) and Oman (X tons). All these countries together held approx. X% share of total imports.

Imports into the United Arab Emirates increased at an average annual rate of X% from 2012 to 2023. At the same time, Oman (X%) and Kuwait (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2023. By contrast, Saudi Arabia (X%) illustrated a downward trend over the same period. The United Arab Emirates (X p.p.) and Oman (X p.p.) significantly strengthened its position in terms of the total imports, while Saudi Arabia saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In the United Arab Emirates, heterocyclic compound imports increased at 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).

Import Prices by Country

In 2023, the import price in GCC amounted to $X per ton, with an increase of X% against the previous year. In general, the import price, however, saw a noticeable curtailment. Over the period under review, import prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform