GCC: Aluminium Market 2024

Aluminium Market Size in GCC

In 2022, the GCC aluminium market increased by X% to $X, rising for the sixth year in a row after two years of decline. Over the period under review, consumption enjoyed a strong increase. The level of consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

Aluminium Production in GCC

In value terms, aluminium production amounted to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2014 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Aluminium Exports

Exports in GCC

In 2022, shipments abroad of aluminum (unwrought, not alloyed) decreased by X% to X tons, falling for the second year in a row after two years of growth. Total exports indicated a temperate expansion from 2012 to 2022: its volume 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. Based on 2022 figures, exports decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2014 when exports increased by X%. Over the period under review, the exports attained the maximum at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, aluminium exports expanded modestly to $X in 2022. Total exports indicated a buoyant expansion from 2012 to 2022: its value 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. Based on 2022 figures, exports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of X%. The level of export peaked in 2022 and is likely to see steady growth in the immediate term.

Exports by Country

Saudi Arabia (X tons) and the United Arab Emirates (X tons) were the major exporters of aluminum (unwrought, not alloyed) in 2022, finishing at near X% and X% of total exports, respectively. It was distantly followed by Bahrain (X tons) and Oman (X tons), together committing a X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Bahrain (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Bahrain ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

Bahrain, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Oman ($X per ton) and Saudi Arabia ($X per ton), while Bahrain ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.

From 2012 to 2022, 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.

Aluminium Imports

Imports in GCC

Aluminium imports shrank notably to X tons in 2022, which is down by X% on 2021. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when imports increased by X%. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, aluminium imports declined notably to $X in 2022. In general, imports, however, saw modest growth. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

Bahrain was the key importing country with an import of around X tons, which resulted at X% of total imports. The United Arab Emirates (X tons) held the second position in the ranking, distantly followed by Kuwait (X tons). All these countries together took approx. X% share of total imports.

Bahrain was also the fastest-growing in terms of the aluminum (unwrought, not alloyed) imports, with a CAGR of X% from 2012 to 2022. At the same time, Kuwait (X%) displayed positive paces of growth. By contrast, the United Arab Emirates (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Bahrain and Kuwait increased by X and X percentage points, respectively.

In value terms, Bahrain ($X) constitutes the largest market for imported aluminum (unwrought, not alloyed) in GCC, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Bahrain totaled X%. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Kuwait (X% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 when the import price increased by X%. The level of import peaked in 2022 and is likely to see gradual growth in years to come.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Kuwait ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, 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

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