MENA: Acrylonitrile Market 2024

Acrylonitrile Market Size in MENA

In 2021, the MENA's acrylonitrile market was finally on the rise to reach $X after two years of decline. The total consumption indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Acrylonitrile Production in MENA

In value terms, acrylonitrile production rose significantly to $X in 2021 estimated in export price. Overall, production showed a dramatic descent. The most prominent rate of growth was recorded in 2018 with an increase of 5,872% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Acrylonitrile Exports

Exports in MENA

In 2021, shipments abroad of acrylonitrile decreased by -43.9% to X tons, falling for the second consecutive year after four years of growth. Over the period under review, exports continue to indicate a sharp downturn. The most prominent rate of growth was recorded in 2016 with an increase of 159%. The volume of export peaked at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, acrylonitrile exports contracted significantly to $X in 2021. Overall, exports recorded a sharp descent. The pace of growth was the most pronounced in 2017 when exports increased by 197% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Turkey represented the main exporter of acrylonitrile in MENA, with the volume of exports amounting to X tons, which was approx. 78% of total exports in 2021. It was distantly followed by the United Arab Emirates (X tons), generating a 20% share of total exports. Saudi Arabia (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to acrylonitrile exports from Turkey stood at -33.8%. The United Arab Emirates experienced a relatively flat trend pattern. Saudi Arabia (-32.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United Arab Emirates increased by +20 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest acrylonitrile supplier in MENA, comprising 87% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 12% share of total exports.

In Turkey, acrylonitrile exports declined by an average annual rate of -32.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the United Arab Emirates (-6.3% per year) and Saudi Arabia (-37.6% per year).

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, growing by 8.4% against the previous year. Export price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, acrylonitrile export price decreased by -5.7% against 2018 indices. The growth pace was the most rapid in 2018 an increase of 36% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+2.4%), while the other leaders experienced a decline in the export price figures.

Acrylonitrile Imports

Imports in MENA

In 2021, approx. X tons of acrylonitrile were imported in MENA; with an increase of 39% compared with the previous year. Total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +6.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -4.7% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 60% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, acrylonitrile imports skyrocketed to $X in 2021. Total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Turkey (X tons) represented the largest importer of acrylonitrile, committing 87% of total imports. It was distantly followed by Saudi Arabia (X tons), creating an 11% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to acrylonitrile imports into Turkey stood at +7.1%. At the same time, Saudi Arabia (+36.4%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing importer imported in MENA, with a CAGR of +36.4% from 2012-2021. While the share of Saudi Arabia (+11 p.p.) and Turkey (+7 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported acrylonitrile in MENA, comprising 88% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a 10% share of total imports.

From 2012 to 2021, the average annual growth rate of value in Turkey stood at +6.8%.

Import Prices by Country

The import price in MENA stood at $X per ton in 2021, picking up by 25% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Turkey ($X per ton), while Saudi Arabia totaled $X per ton.

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

Source: IndexBox Platform