GCC: Sodium Phosphates Market 2024

Sodium Phosphates Market Size in GCC

In 2023, after three years of growth, there was significant decline in the GCC sodium phosphates market, when its value decreased by X% to $X. In general, consumption recorded a deep reduction. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2023, consumption failed to regain momentum.

Sodium Phosphates Production in GCC

In value terms, sodium phosphates production fell modestly to $X in 2023 estimated in export price. The total production indicated a moderate increase 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, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, production attained the peak level of $X. From 2021 to 2023, production growth failed to regain momentum.

Sodium Phosphates Exports

Exports in GCC

Sodium phosphates exports skyrocketed to X tons in 2023, increasing by X% on 2022. In general, exports showed a strong expansion. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2023, the growth of the exports remained at a lower figure.

In value terms, sodium phosphates exports skyrocketed to $X in 2023. Overall, exports posted significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by X%. The level of export peaked at $X in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

Exports by Country

Saudi Arabia represented the largest exporter of phosphates of mono- or di-sodium in GCC, with the volume of exports finishing at X tons, which was near X% of total exports in 2023. It was distantly followed by the United Arab Emirates (X tons), committing a X% share of total exports.

From 2012 to 2023, average annual rates of growth with regard to sodium phosphates exports from Saudi Arabia stood at X%. At the same time, the United Arab Emirates (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2023. Saudi Arabia (X p.p.) and the United Arab Emirates (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2023, the average annual growth rate of value in Saudi Arabia amounted to X%.

Export Prices by Country

The export price in GCC stood at $X per ton in 2023, falling by X% against the previous year. Over the period under review, the export price, however, enjoyed a remarkable increase. The growth pace was the most rapid in 2013 an increase of X%. The level of export peaked at $X per ton in 2022, and then reduced sharply in the following year.

Average prices varied noticeably amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia stood at $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%).

Sodium Phosphates Imports

Imports in GCC

In 2023, sodium phosphates imports in GCC fell slightly to X tons, which is down by X% on 2022 figures. Overall, imports showed a abrupt curtailment. The pace of growth appeared the most rapid in 2022 with an increase of X%. The volume of import peaked at X tons in 2012; however, from 2013 to 2023, imports failed to regain momentum.

In value terms, sodium phosphates imports declined sharply to $X in 2023. In general, imports saw a noticeable decline. The pace of growth appeared the most rapid in 2022 when imports increased by X%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, Bahrain (X tons) and the United Arab Emirates (X tons) represented the major importers of phosphates of mono- or di-sodium in GCC, together amounting to approx. X% of total imports. It was distantly followed by Qatar (X tons), committing a X% share of total imports.

From 2012 to 2023, the biggest increases were recorded for the United Arab Emirates (with a CAGR of X%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, Bahrain ($X), the United Arab Emirates ($X) and Qatar ($X) constituted the countries with the highest levels of imports in 2023, with a combined X% share of total imports.

Among the main importing countries, the United Arab Emirates, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in GCC stood at $X per ton in 2023, waning by X% against the previous year. Import price indicated perceptible growth from 2012 to 2023: its price 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, sodium phosphates import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton, and then shrank sharply in the following year.

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 ($X per ton), while Qatar ($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 mixed trends in the import price figures.

Source: IndexBox Platform