Iran: Unsaturated Acyclic Hydrocarbons Market 2024

Unsaturated Acyclic Hydrocarbons Market Size in Iran

For the seventh year in a row, the Iranian unsaturated acyclic hydrocarbons market recorded decline in sales value, which decreased by -16.3% to $X in 2021. Over the period under review, consumption recorded a deep downturn. Unsaturated acyclic hydrocarbons consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Unsaturated Acyclic Hydrocarbons Production in Iran

In value terms, unsaturated acyclic hydrocarbons production shrank slightly to $X in 2021 estimated in export price. In general, production enjoyed resilient growth. The pace of growth was the most pronounced in 2017 with an increase of 92%. Unsaturated acyclic hydrocarbons production peaked at $X in 2020, and then shrank slightly in the following year.

Unsaturated Acyclic Hydrocarbons Exports

Exports from Iran

In 2021, the amount of unsaturated acyclic hydrocarbons exported from Iran rose significantly to X tons, with an increase of 13% on the previous year. In general, exports recorded a significant expansion. The pace of growth was the most pronounced in 2016 with an increase of 212% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, unsaturated acyclic hydrocarbons exports expanded notably to $X in 2021. Over the period under review, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 172% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to see gradual growth in years to come.

Exports by Country

Oman (X tons) was the main destination for unsaturated acyclic hydrocarbons exports from Iran, with a 56% share of total exports. Moreover, unsaturated acyclic hydrocarbons exports to Oman exceeded the volume sent to the second major destination, South Korea (X tons), threefold. India (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Oman totaled +46.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+108.2% per year) and India (+105.6% per year).

In value terms, South Korea ($X), Oman ($X) and India ($X) constituted the largest markets for unsaturated acyclic hydrocarbons exported from Iran worldwide, with a combined 95% share of total exports.

South Korea, with a CAGR of +115.5%, recorded the highest growth rate of the value of exports, in terms of 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 unsaturated acyclic hydrocarbons export price stood at $X per ton in 2021, leveling off at the previous year. Over the period under review, the export price, however, showed a slight contraction. The growth pace was the most rapid in 2017 an increase of 22%. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+3.5%), while the prices for the other major destinations experienced a decline.

Unsaturated Acyclic Hydrocarbons Imports

Imports into Iran

In 2021, purchases abroad of unsaturated acyclic hydrocarbons decreased by -22.7% to X tons, falling for the third consecutive year after two years of growth. In general, imports continue to indicate a sharp decrease. The pace of growth appeared the most rapid in 2013 when imports increased by 795%. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, unsaturated acyclic hydrocarbons imports skyrocketed to $X in 2021. Overall, imports showed a precipitous contraction. The most prominent rate of growth was recorded in 2013 with an increase of 1,076%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), South Korea (X kg) and Germany (X kg) were the main suppliers of unsaturated acyclic hydrocarbons imports to Iran, with a combined 80% share of total imports. The United Arab Emirates and the UK lagged somewhat behind, together comprising a further 15%.

From 2012 to 2021, the biggest increases were recorded for the UK (with a CAGR of -18.3%), while purchases for the other leaders experienced a decline.

In value terms, South Korea ($X) constituted the largest supplier of unsaturated acyclic hydrocarbons to Iran, comprising 44% of total imports. The second position in the ranking was held by China ($X), with a 17% share of total imports. It was followed by Germany, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value from South Korea totaled -3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-26.3% per year) and Germany (-12.4% per year).

Import Prices by Country

In 2021, the average unsaturated acyclic hydrocarbons import price amounted to $X per ton, surging by 74% against the previous year. Overall, the import price saw strong growth. 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 2021, amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+19.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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