Updated Nov 26, 2022 17:11

Sulphur Market in Saudi Arabia

Market Overview
The Saudi sulphur market skyrocketed to $ in , surging by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, enjoyed a strong expansion. Over the period under review, the market attained the maximum level in and is likely to continue growth in the immediate term.

In value terms, sulphur production skyrocketed to $ in estimated in export price. Overall, production saw a buoyant expansion. As a result, production reached the peak level and is likely to continue growth in the immediate term.


Consumption
In , approx. tons of sulphur were consumed in Saudi Arabia; growing by % on the year before. Overall, consumption continues to indicate prominent growth. Over the period under review, consumption reached the peak volume in and is expected to retain growth in years to come.

The value of the sulphur market in Saudi Arabia stood at $ in , growing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption posted buoyant growth. Over the period under review, the market attained the maximum level in and is likely to see steady growth in the immediate term.


Market Forecast
Driven by increasing demand for sulphur in Saudi Arabia, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .

In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Over the period under review, imports of sulphur in Saudi Arabia were negligibly small compared to the production volumes. Therefore, the share of imports in the total market was practically nonexistent, both in volume and in value terms. This situation has remained constant over the period under review, which means that domestic producers entirely meet the domestic demand for sulphur. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports remained relatively constant over the period under review. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (less than percentage point) over the period under review.


Trade Balance
Saudi Arabia remains a net exporter of sulphur; in physical and value terms, exports consistently exceeded imports from 2007 to . In , there was a significant trade surplus of tons, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.