MENA: Acetone Market 2025

Acetone Market Size in MENA

The MENA's acetone market shrank modestly to $X in 2021, dropping by -2.2% against the previous year. In general, consumption showed a mild shrinkage. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Acetone Production in MENA

In value terms, acetone production soared to $X in 2021 estimated in export price. Over the period under review, production recorded a resilient expansion. The pace of growth appeared the most rapid in 2018 when the production volume increased by 62%. Over the period under review, production reached the peak level in 2021 and is expected to retain growth in years to come.

Acetone Exports

Exports in MENA

In 2021, acetone exports in MENA surged to X tons, picking up by 37% compared with the previous year's figure. Over the period under review, exports saw a resilient increase. The pace of growth was the most pronounced in 2018 with an increase of 83% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in years to come.

In value terms, acetone exports soared to $X in 2021. In general, exports saw a strong expansion. The most prominent rate of growth was recorded in 2017 with an increase of 96% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

Exports by Country

Saudi Arabia prevails in exports structure, resulting at X tons, which was approx. 97% of total exports in 2021. Turkey (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to acetone exports from Saudi Arabia stood at +15.2%. At the same time, Turkey (+46.5%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in MENA, with a CAGR of +46.5% from 2012-2021. Saudi Arabia (+4.6 p.p.) and Turkey (+1.6 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest acetone supplier in MENA, comprising 97% of total exports. The second position in the ranking was held by Turkey ($X), with a 2.4% share of total exports.

In Saudi Arabia, acetone exports expanded at an average annual rate of +16.3% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, surging by 27% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the export price increased by 41%. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Saudi Arabia amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+1.0%).

Acetone Imports

Imports in MENA

In 2021, acetone imports in MENA surged to X tons, jumping by 40% compared with 2020. Overall, imports saw a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, acetone imports soared to $X in 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Turkey was the key importer of acetone in MENA, with the volume of imports accounting for X tons, which was approx. 56% of total imports in 2021. It was distantly followed by the United Arab Emirates (X tons), Israel (X tons), Iran (X tons) and Morocco (X tons), together constituting a 37% share of total imports. Jordan (X tons) took a little share of total imports.

Turkey was also the fastest-growing in terms of the acetone imports, with a CAGR of +4.4% from 2012 to 2021. At the same time, Morocco (+2.7%) displayed positive paces of growth. Israel and the United Arab Emirates experienced a relatively flat trend pattern. By contrast, Jordan (-5.2%) and Iran (-8.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Turkey increased by +16 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported acetone in MENA, comprising 55% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 13% share of total imports. It was followed by Israel, with a 7.9% share.

In Turkey, acetone imports increased at an average annual rate of +3.0% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (-2.4% per year) and Israel (+1.4% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2021, with an increase of 43% against the previous year. Over the period under review, the import price, however, showed a mild downturn. The pace of growth was the most pronounced in 2017 an increase of 53%. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Morocco ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Jordan (+2.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform