Bahrain Cement Market Shipment Analysis
Bahrain Cement Market registered a growth of 8.17% in value shipments in 2022 as compared to 2021 and a decrease of -8.79% CAGR in 2022 over a period of 2017. In Cement Market Bahrain is becoming less competitive as HHI index in 2022 was 9972 while in 2017 it was 7533. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market.
"Bahrain has reportedly relied more on imports to meet its growing demand in Cement Market. India is shifting towards local production to meet its demand as we see the trend is shifting towards reducing imports. The import factor of Cement Market in 2022 was 12.1 while in 2017 it was 589.39. Saudi Arabia, South Korea, Spain, Pakistan and were among the top players of the market in 2022, where Saudi Arabia acquired the largest market share of 99.86% with a shipment value of 31.92 million USD in 2022 Saudi Arabia also offered the product above the average market price, but remained at the leadership position indicating the trust it holds in the Cement Market. In 2017 United Arab Emirates (UAE) had the largest market share of 85.62% with the shipment value of 43.95 million USD. The country was offering its product with an average price which is lower than the average market price offered in the country. As United Arab Emirates (UAE)price is lower than the average price, it provided a significant edge among other competitor in 2017."
