GCC: Prepared Binders Market 2024

Prepared Binders Market Size in GCC

In 2022, the GCC prepared binders market increased by X% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption posted a remarkable increase. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Prepared Binders Production in GCC

In value terms, prepared binders production totaled $X in 2022 estimated in export price. Overall, production enjoyed significant growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Prepared Binders Exports

Exports in GCC

In 2022, after two years of growth, there was significant decline in overseas shipments of prepared binders for foundry moulds or cores, when their volume decreased by X% to X tons. In general, exports, however, showed a noticeable expansion. The most prominent rate of growth was recorded in 2017 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, prepared binders exports contracted remarkably to $X in 2022. Overall, exports, however, continue to indicate a strong increase. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United Arab Emirates dominates exports structure, reaching X tons, which was near X% of total exports in 2022. It was distantly followed by Saudi Arabia (X tons), committing a X% share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the prepared binders for foundry moulds or cores exports, with a CAGR of X% from 2012 to 2022. Saudi Arabia (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 exports from 2012-2022, the share of Saudi Arabia (X p.p.) displayed negative dynamics.

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

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates amounted to X%.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, surging by X% against the previous year. Export price indicated a notable increase from 2012 to 2022: its price 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. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. The level of export peaked at $X per ton in 2018; afterwards, it flattened through to 2022.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia amounted to $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%).

Prepared Binders Imports

Imports in GCC

In 2022, imports of prepared binders for foundry moulds or cores in GCC reduced to X tons, which is down by X% against 2021. Over the period under review, imports, however, showed strong growth. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, prepared binders imports skyrocketed to $X in 2022. Overall, imports, however, recorded a resilient increase. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

The United Arab Emirates (X tons) and Saudi Arabia (X tons) prevails in imports structure, together committing X% of total imports. The following importers - Bahrain (X tons) and Kuwait (X tons) - together made up X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Saudi Arabia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest prepared binders importing markets in GCC were the United Arab Emirates ($X), Saudi Arabia ($X) and Bahrain ($X), with a combined X% share of total imports.

Bahrain, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, growing by X% against the previous year. Overall, the import price, however, continues to indicate a mild decrease. The most prominent rate of growth was recorded in 2017 when the import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2018 to 2022, the import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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