United Arab Emirates: Alkyd Resins Market 2024

Alkyd Resins Market Size in the United Arab Emirates

For the fourth consecutive year, the alkyd resins market in the United Arab Emirates recorded decline in sales value, which decreased by X% to $X in 2022. Over the period under review, consumption recorded a sharp descent. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Alkyd Resins Production in the United Arab Emirates

In value terms, alkyd resins production reached $X in 2022 estimated in export price. Overall, production, however, recorded prominent growth. The most prominent rate of growth was recorded in 2019 when the production volume increased by X% against the previous year. Alkyd resins production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

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Alkyd Resins Exports

Exports from the United Arab Emirates

In 2022, overseas shipments of alkyd resins in primary forms increased by X% to X tons, rising for the fourth year in a row after two years of decline. Over the period under review, exports saw strong growth. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the near future.

In value terms, alkyd resins exports surged to $X in 2022. Overall, exports recorded a buoyant expansion. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the near future.

Exports by Country

Saudi Arabia (X tons), Oman (X tons) and Jordan (X tons) were the main destinations of alkyd resins exports from the United Arab Emirates, together accounting for X% of total exports. Guinea, Mozambique, Tanzania, Vietnam, India, Democratic Republic of the Congo, Singapore, Bahrain, Bangladesh and Sri Lanka lagged somewhat behind, together accounting for a further X%.

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

In value terms, Saudi Arabia ($X), Jordan ($X) and Oman ($X) constituted the largest markets for alkyd resins exported from the United Arab Emirates worldwide, together accounting for X% of total exports. Guinea, Mozambique, Tanzania, Vietnam, Singapore, Bahrain, Sri Lanka, India, Bangladesh and Democratic Republic of the Congo lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Bangladesh, with a CAGR of X%, saw the highest rates of growth with regard to 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

The average alkyd resins export price stood at $X per ton in 2022, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Jordan ($X per ton), while the average price for exports to Democratic Republic of the Congo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Guinea (X%), while the prices for the other major destinations experienced more modest paces of growth.

Alkyd Resins Imports

Imports into the United Arab Emirates

In 2022, purchases abroad of alkyd resins in primary forms decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports continue to indicate a pronounced contraction. The pace of growth appeared the most rapid in 2013 with an increase of X%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, alkyd resins imports dropped to $X in 2022. In general, imports continue to indicate a mild downturn. The pace of growth appeared the most rapid in 2013 when imports increased by X%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Saudi Arabia (X tons) constituted the largest supplier of alkyd resins to the United Arab Emirates, accounting for a X% share of total imports. Moreover, alkyd resins imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, India (X tons), twofold. The third position in this ranking was held by Jordan (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Saudi Arabia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Jordan (X% per year).

In value terms, Saudi Arabia ($X), India ($X) and Jordan ($X) were the largest alkyd resins suppliers to the United Arab Emirates, with a combined X% share of total imports.

Saudi Arabia, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average alkyd resins import price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform