GCC: Silicates Market 2024

Silicates Market Size in GCC

The GCC silicates market expanded notably to $X in 2022, increasing by X% against the previous year. In general, consumption, however, continues to indicate strong growth. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in years to come.

Silicates Production in GCC

In value terms, silicates production reached $X in 2022 estimated in export price. In general, production, however, continues to indicate a prominent expansion. The pace of growth appeared the most rapid in 2020 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Silicates Exports

Exports in GCC

In 2022, approx. X tons of silicates, commercial alkali metal silicates were exported in GCC; with a decrease of X% on the previous year's figure. In general, exports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, silicates exports reduced markedly to $X in 2022. Over the period under review, exports faced a abrupt downturn. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia prevails in exports structure, resulting at X tons, which was near X% of total exports in 2022. It was distantly followed by the United Arab Emirates (X tons), achieving a X% share of total exports. Oman (X tons) followed a long way behind the leaders.

Exports from Saudi Arabia decreased at an average annual rate of X% from 2012 to 2022. Oman (X%) and the United Arab Emirates (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Saudi Arabia increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual rate of growth in terms of value in Saudi Arabia totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Oman (X% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, surging by X% against the previous year. In general, the export price recorded a buoyant increase. The pace of growth appeared the most rapid in 2018 when the export price increased by X% against the previous year. The level of export peaked in 2022 and is likely to continue growth in the near future.

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 ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced more modest paces of growth.

Silicates Imports

Imports in GCC

After two years of decline, purchases abroad of silicates, commercial alkali metal silicates increased by X% to X tons in 2022. In general, imports, however, showed a mild shrinkage. The growth pace was the most rapid in 2015 with an increase of X%. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, silicates imports reduced dramatically to $X in 2022. Overall, imports, however, recorded a slight slump. The most prominent rate of growth was recorded in 2015 when imports increased by X%. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Oman (X tons) and Kuwait (X tons) represented roughly X% of total imports in 2022. It was distantly followed by the United Arab Emirates (X tons) and Qatar (X tons), together mixing up a X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Kuwait (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest silicates importing markets in GCC were Kuwait ($X), the United Arab Emirates ($X) and Oman ($X), with a combined X% share of total imports.

Kuwait, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of 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, which is down by X% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2021, and then declined rapidly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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