Country Dashboard: Yemen

The commercial industrial gases market in Yemen is estimated to have generated revenues of $10.1m in 2018. This is an increase from $4.3m in 2008, indicating an average annual growth rate of 9.7% p.a.  


The Economy

Yemen's economic growth has remained relatively normal and steady since 2000. The country was largely unaffected by the financial crisis of 2008-09, with growth rates of 3.8% and 7.7% across the two years. In 2018, the level of GDP growth stood at a strong 4.1%.


Industrial Production, as measured by the Industrial Production Index (IPI) has been very low during the last decade with 0% growth in the years of 2013 onwards.


Inflation (as measured by the GDP deflator) in Yemen has generally remained high and steady over the last decade, with the lowest period of inflation in 2015 with 5.4%. In 2018 the rate of inflation across the country stood at 12%.


The Gas Business

In 2018, there were no international or major industrial gas companies with operations in Yemen. The largest market share in the country is split between AGL and IYGC with 32.9% each.


The sale of packaged gas was the largest revenue generator for the industrial gas market in Iran, with this supply mode accounting for 68.8% of commercial revenues. Bulk liquid sales were responsible for 26.3% in market share.

Argon was the main revenue generating industrial gas in the country, accounting for 30.0% of commercial revenue. The second and third largest industrial gases, in market share terms, was nitrogen and  oxygen with a market share of 20.0% and 10% respectively. The remainder of the market was comprised of the sale of hydrogen and speciality gases.

The sales of industrial gas to the general manufacturing and metallurgy industries accounted for roughly 27.3% each in the Yemen market. The Healthcare industry was responsible for $1.5m in sales, with the Food industry generating 9.1% of commercial revenue. chemicals accounted for $730,000. The rest of the market was fractured, with no other end-user commanding revenues in excess of $700,000.


The Future

Within the 2018-2023 timeframe, our forecast models predict growth from 6.1% p.a. in a low scenario to 6.4% p.a. in a high scenario. This should see the industry in Yemen achieve revenues of between $13.4m to $14.2m by 2023.



GDP, IPI and GDP Deflator

  • GDP (%)
  • IPI (%)
  • GDP Deflator (%)
Year:,GDP (%),IPI (%),GDP Deflator (%) 2000,6.1,5,4.6 2001,3.8,4.5,11.9 2002,3.9,4,12.2 2003,3.7,3,10.8 2004,3.9,3,12.5 2005,5.5,3,11.8 2006,3.1,3,10.8 2007,3.3,3.2,7.9 2008,3.6,2.5,19.0 2009,3.8,5.8,5.4 2010,7.7,9,11.2 2011,-12.7,-1,16.0 2012,2.3,0.8,19.4 2013,4.4,0,23.6 2014,5.0,0,19.1 2015,4.4,0,16.3 2016,3.8,0,14.4 2017,3.8,0,13.2 2018,4.1,0,12.0
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Yemen's economic growth has remained relatively normal and steady since 2000. The country was largely unaffected by the financial crisis of 2008-09, with growth rates of 3.8% and 7.7% across the two years. In 2018, the level of GDP growth stood at a strong 4.1%.


Industrial Production, as measured by the Industrial Production Index (IPI) has been very low during the last decade with 0% growth in the years of 2013 onwards.


Inflation (as measured by the GDP deflator) in Yemen has generally remained high and steady over the last decade, with the lowest period of inflation in 2015 with 5.4%. In 2018 the rate of inflation across the country stood at 12%.


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Commerical Gas Market

  • GDP (%)
  • IPI (%)
  • Gas Market (%)
Year:,GDP (%),IPI (%),Gas Market (%) 2000,6.2,5.0,-40.0 2001,3.8,4.5,5.0 2002,3.9,4.0,3.8 2003,3.7,3.0,25.6 2004,4.0,3.0,40.4 2005,5.6,3.0,0.0 2006,3.2,3.0,4.1 2007,3.3,3.2,16.1 2008,3.6,2.5,0.0 2009,3.9,5.8,2.4 2010,7.7,9.0,30.2 2011,-12.7,-1.0,-12.5 2012,2.4,0.8,31.9 2013,4.4,0.0,15.7 2014,5.1,0.0,4.6 2015,4.4,0.0,4.5 2016,3.9,0.0,4.5 2017,3.9,0.0,4.4 2018,4.1,0.0,4.4
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Over the course of the last 10 years the commercial gas market in Yemen has experienced high and erratic growth rates. This growth was largely due to high growth rates of 16.1% and 30.2% in 2007 and 2010 and 31.9% in 2012 respectively.


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Cylinder Pricing Information

  • GOX
  • GAN
  • GAR
  • CO2
,GOX,GAN,GAR,CO2 ,199800.0,399600.0,2277720.0,131118.8
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These prices are a gasworld Business Intelligence estimate of the price, per tonne in local currency, of the main gases produced through cylinder and pipeline facilities.


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Bulk Liquid Pricing Information

  • LOX
  • LIN
  • LAR
,LOX,LIN,LAR ,99900.0,99900.0,187312.5
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These prices are a gasworld Business Intelligence estimate of the price, per tonne in local currency, of the main gases produced through bulk liquid sales.


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Market Share by Gas Company

Legend:
  • IYGC
  • YEC
  • Yemen BIT
  • AGL
  • Others
IYGC,2.6 YEC,1.1 Yemen BIT,0.5 AGL,2.6 Others,1.1
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In 2018, there were no international or major industrial gas companies with operations in Yemen. The largest market share in the country is split between AGL and IYGC with 32.9% each.

Many supplies are made by oil & gas exploration companies importing their own gases or by other agencies importing gases for humanitarian purposes (medical gases under UN aid). 


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Market Share by Supply Mode

Legend:
  • Bulk
  • Packaged
  • Captive
  • Other
Bulk,2.1 Packaged,5.5 Captive,0.1 Other,0.3
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The sale of packaged gas was the largest revenue generator for the industrial gas market in Yemen, with this supply mode accounting for 68.8% of commercial revenues. Bulk liquid sales were responsible for 26.3% in market share.

In 2018, we estimate that captive facilities accounted for a marginal 1.3% in market share which could be generated by the industrial gas companies, were they operated under onsite contracts instead. 


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Commercial Gases Value

Legend:
  • Med Oxygen
  • Nitrogen
  • Argon
  • Other
Med Oxygen,0.1 Nitrogen,0.2 Argon,0.3 Other,0.1
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Argon was the main revenue generating industrial gas in the country, accounting for 30.0% of commercial revenue. 

The second and third largest industrial gases, in market share terms, was nitrogen and  oxygen with a market share of 20.0% and 10% respectively. The remainder of the market was comprised of the sale of hydrogen and specialty gases.


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Market Share by End-User

Legend:
  • Refining & Energy
  • Metallurgy
  • Gen Manufacturing
  • Food
  • Healthcare
  • Others
Refining & Energy,0.1 Metallurgy,0.3 Gen Manufacturing,0.3 Food,0.1 Healthcare,0.2 Others,0.1
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The sales of industrial gas to the general manufacturing and metallurgy industries accounted for roughly 27.3% each in the Yemen market. 

The Healthcare industry was responsible for $1.5m in sales, with the Food industry generating 9.1% of commercial revenue. chemicals accounted for $730,000. The rest of the market was fractured, with no other end-user commanding revenues in excess of $700,000.


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Gas Market Growth and Forecast

  • Macro Economic Forecast
  • Gas Intensity Forecast
Year:,Macro Economic Forecast,Gas Intensity Forecast 2000,2.1,2.1 2001,1.9,1.9 2002,2.0,2.0 2003,2.5,2.5 2004,3.5,3.5 2005,3.5,3.5 2006,3.7,3.7 2007,4.3,4.3 2008,4.3,4.3 2009,4.4,4.4 2010,5.7,5.7 2011,5,5 2012,6.5,6.5 2013,7.6,7.6 2014,7.9,7.9 2015,8.4,8.2 2016,8.9,8.8 2017,9.5,9.4 2018,10.1,10.1 2019,10.7,10.8 2020,11.3,11.5 2021,12,12.3 2022,12.7,13.2 2023,13.4,14.2 2024,14.2,15.2
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Within the 2018-2023 timeframe, our forecast models predict growth from 6.1% p.a. in a low scenario to 6.4% p.a. in a high scenario. This should see the industry in Yemen achieve revenues of between $13.4m to $14.2m by 2023.


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