MENA: Alkyd Resins Market 2024

Alkyd Resins Market Size in MENA

The MENA's alkyd resins market reduced to $X in 2022, falling by -7.5% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Alkyd Resins Production in MENA

In value terms, alkyd resins production dropped rapidly to $X in 2022 estimated in export price. In general, production, however, enjoyed a prominent expansion. The growth pace was the most rapid in 2019 with an increase of 54% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Alkyd Resins Exports

Exports in MENA

Alkyd resins exports dropped notably to X tons in 2022, falling by -15.7% against 2021 figures. The total export volume increased at an average annual rate of +2.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 33% against the previous year. As a result, the exports attained the peak of X tons, and then fell remarkably in the following year.

In value terms, alkyd resins exports fell to $X in 2022. Total exports indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +46.7% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 59% against the previous year. As a result, the exports attained the peak of $X, and then fell in the following year.

Exports by Country

The shipments of the four major exporters of alkyd resins in primary forms, namely Turkey, the United Arab Emirates, Egypt and Tunisia, represented more than two-thirds of total export. It was distantly followed by Saudi Arabia (X tons), committing a 6.6% share of total exports. Iran (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +10.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Egypt ($X) and the United Arab Emirates ($X) constituted the countries with the highest levels of exports in 2022, together accounting for 77% of total exports.

In terms of the main exporting countries, Turkey, with a CAGR of +11.3%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, with an increase of 9.3% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by 20%. The level of export peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Egypt ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+2.3%), while the other leaders experienced more modest paces of growth.

Alkyd Resins Imports

Imports in MENA

In 2022, the amount of alkyd resins in primary forms imported in MENA dropped to X tons, which is down by -12.6% on the previous year. In general, imports recorded a mild curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 16% against the previous year. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, alkyd resins imports declined to $X in 2022. Over the period under review, imports continue to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2021 when imports increased by 41% 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 purchases of the twelve major importers of alkyd resins in primary forms, namely Saudi Arabia, Oman, the United Arab Emirates, Yemen, Turkey, Algeria, Lebanon, Morocco, Syrian Arab Republic, Libya, Israel and Jordan, represented more than two-thirds of total import.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Syrian Arab Republic (with a CAGR of +25.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), Turkey ($X) and Yemen ($X) were the countries with the highest levels of imports in 2022, with a combined 33% share of total imports. The United Arab Emirates, Algeria, Oman, Lebanon, Israel, Morocco, Jordan, Syrian Arab Republic and Libya lagged somewhat behind, together comprising a further 56%.

Syrian Arab Republic, with a CAGR of +22.9%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in MENA amounted to $X per ton, flattening at the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 21% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Israel ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+2.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform