GCC: Market for Caustic Soda in the Solid Form 2024

Market Size for Caustic Soda in the Solid Form in GCC

The GCC market for caustic soda in the solid form fell to $X in 2023, waning by X% against the previous year. The total consumption indicated tangible growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2019 indices. As a result, consumption attained the peak level of $X. From 2016 to 2023, the growth of the market failed to regain momentum.

Production of Caustic Soda in the Solid Form in GCC

In value terms, production of caustic soda in the solid form contracted rapidly to $X in 2023 estimated in export price. Over the period under review, production, however, posted a buoyant increase. The pace of growth appeared the most rapid in 2022 with an increase of X% against the previous year. As a result, production attained the peak level of $X, and then shrank rapidly in the following year.

Exports of Caustic Soda in the Solid Form

Exports in GCC

In 2023, after two years of growth, there was significant decline in shipments abroad of caustic soda in the solid form, when their volume decreased by X% to X tons. Total exports indicated a perceptible expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2022 when exports increased by X%. As a result, the exports attained the peak of X tons, and then fell in the following year.

In value terms, exports of caustic soda in the solid form declined markedly to $X in 2023. Overall, exports, however, continue to indicate a tangible increase. The most prominent rate of growth was recorded in 2022 when exports increased by X%. As a result, the exports reached the peak of $X, and then contracted markedly in the following year.

Exports by Country

Saudi Arabia (X tons), Kuwait (X tons), Qatar (X tons) and the United Arab Emirates (X tons) represented roughly X% of total exports in 2023. Oman (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Qatar (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest caustic soda in the solid form supplying countries in GCC were Qatar ($X), Saudi Arabia ($X) and Kuwait ($X), together accounting for X% of total exports.

In terms of the main exporting countries, Qatar, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in GCC amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton, and then dropped significantly in the following year.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Oman (X%), while the other leaders experienced more modest paces of growth.

Imports of Caustic Soda in the Solid Form

Imports in GCC

In 2023, approx. X tons of caustic soda in the solid form were imported in GCC; with an increase of X% against 2022 figures. Over the period under review, imports, however, showed a deep reduction. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2023, the growth of imports of failed to regain momentum.

In value terms, imports of caustic soda in the solid form contracted to $X in 2023. Overall, imports, however, continue to indicate a deep downturn. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2023, the growth of imports of failed to regain momentum.

Imports by Country

The United Arab Emirates represented the key importing country with an import of around X tons, which amounted to X% of total imports. It was distantly followed by Saudi Arabia (X tons), Kuwait (X tons) and Oman (X tons), together creating a X% share of total imports. Bahrain (X tons) and Qatar (X tons) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the caustic soda in the solid form imports, with a CAGR of X% from 2012 to 2023. Bahrain (X%), Oman (X%), Qatar (X%), Kuwait (X%) and Saudi Arabia (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of the United Arab Emirates increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In the United Arab Emirates, imports of caustic soda in the solid form plunged by an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Saudi Arabia (X% per year) and Kuwait (X% per year).

Import Prices by Country

In 2023, the import price in GCC amounted to $X per ton, waning by X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per ton in 2018; however, from 2019 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Bahrain ($X per ton), while the United Arab Emirates ($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 more modest paces of growth.

Source: IndexBox Platform