Iran: Octyl Alcohol Market 2024

Octyl Alcohol Market Size in Iran

The Iranian octyl alcohol market reached $X in 2022, surging by 3.3% against the previous year. In general, the total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -4.0% against 2020 indices. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Octyl Alcohol Production in Iran

In value terms, octyl alcohol production expanded slightly to $X in 2022 estimated in export price. Over the period under review, the total production indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +7.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.2% against 2020 indices. The pace of growth appeared the most rapid in 2019 when the production volume increased by 15%. Octyl alcohol production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Octyl Alcohol Exports

Exports from Iran

In 2022, shipments abroad of octanol (octyl alcohol) and isomers thereof increased by 8.1% to X tons for the first time since 2015, thus ending a six-year declining trend. Over the period under review, exports, however, recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2015 when exports increased by 518% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, octyl alcohol exports declined to $X in 2022. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 380%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

China (X tons), Turkey (X tons) and Iraq (X tons) were the main destinations of octyl alcohol exports from Iran, with a combined 54% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Iraq (with a CAGR of +12.5%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for octyl alcohol exported from Iran were Turkey ($X), Bangladesh ($X) and India ($X), with a combined 69% share of total exports. Egypt, China, the United Arab Emirates, Iraq and Pakistan lagged somewhat behind, together comprising a further 28%.

Egypt, with a CAGR of +16.3%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average octyl alcohol export price stood at $X per ton in 2022, which is down by -13.6% against the previous year. Overall, the export price, however, showed prominent growth. The growth pace was the most rapid in 2020 when the average export price increased by 50% against the previous year. The export price peaked at $X per ton in 2021, and then fell in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Iraq ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+17.1%), while the prices for the other major destinations experienced more modest paces of growth.

Octyl Alcohol Imports

Imports into Iran

In 2022, purchases abroad of octanol (octyl alcohol) and isomers thereof was finally on the rise to reach X tons after two years of decline. Overall, imports, however, continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2019 when imports increased by 319%. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, octyl alcohol imports surged to $X in 2022. In general, imports, however, showed a abrupt downturn. The most prominent rate of growth was recorded in 2019 when imports increased by 259%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Germany (X tons), the United Arab Emirates (X tons) and China (X tons) were the main suppliers of octyl alcohol imports to Iran, together comprising 92% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United Arab Emirates (with a CAGR of +80.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of octanol (octyl alcohol) and isomers thereof to Iran, comprising 61% of total imports. The second position in the ranking was held by China ($X), with a 21% share of total imports. It was followed by Germany, with a 9.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United Arab Emirates totaled +63.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+26.7% per year) and Germany (+5.8% per year).

Import Prices by Country

In 2022, the average octyl alcohol import price amounted to $X per ton, picking up by 42% against the previous year. Overall, the import price saw a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+3.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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