GCC: Butanone Market 2024

Butanone Market Size in GCC

The GCC butanone market soared to $X in 2022, rising by 17% against the previous year. Overall, consumption, however, saw a abrupt curtailment. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Butanone Production in GCC

In value terms, butanone production dropped modestly to $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by 44%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Butanone Exports

Exports in GCC

Butanone exports surged to X tons in 2022, rising by 46% compared with the year before. Overall, exports, however, recorded a abrupt decrease. The pace of growth was the most pronounced in 2015 when exports increased by 458%. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, butanone exports surged to $X in 2022. Over the period under review, exports, however, showed a deep contraction. The pace of growth appeared the most rapid in 2015 with an increase of 438%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United Arab Emirates represented the main exporting country with an export of about X tons, which resulted at 79% of total exports. It was distantly followed by Saudi Arabia (X tons), committing a 21% share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the butanone (methyl ethyl ketone) exports, with a CAGR of -5.3% from 2012 to 2022. Saudi Arabia (-10.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates increased by +9.8 percentage points.

In value terms, the United Arab Emirates ($X) remains the largest butanone supplier in GCC, comprising 85% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 15% share of total exports.

In the United Arab Emirates, butanone exports contracted by an average annual rate of -6.1% over the period from 2012-2022.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, waning by -15.1% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 66% against the previous year. The level of export peaked at $X per ton in 2021, and then dropped markedly in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-0.9%).

Butanone Imports

Imports in GCC

In 2022, imports of butanone (methyl ethyl ketone) in GCC surged to X tons, growing by 41% against 2021. Over the period under review, imports, however, faced a deep contraction. The growth pace was the most rapid in 2019 with an increase of 121% against the previous year. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, butanone imports rose rapidly to $X in 2022. Overall, imports, however, continue to indicate a deep setback. The growth pace was the most rapid in 2019 with an increase of 80% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates dominates imports structure, amounting to X tons, which was near 94% of total imports in 2022. Oman (X tons) and Kuwait (X tons) took a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to butanone imports into the United Arab Emirates stood at -8.9%. At the same time, Oman (+10.6%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in GCC, with a CAGR of +10.6% from 2012-2022. By contrast, Kuwait (-3.4%) illustrated a downward trend over the same period. The United Arab Emirates (+28 p.p.) and Oman (+3.5 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported butanone (methyl ethyl ketone) in GCC, comprising 92% of total imports. The second position in the ranking was taken by Oman ($X), with a 3.9% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates totaled -8.8%. The remaining importing countries recorded the following average annual rates of imports growth: Oman (+1.1% per year) and Kuwait (-4.5% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, shrinking by -19.7% against the previous year. Over the period under review, the import price showed a mild descent. The growth pace was the most rapid in 2021 when the import price increased by 46% against the previous year. As a result, import price reached the peak level of $X per ton, and then fell markedly in the following year.

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 the United Arab Emirates (+0.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform