MENA: Amine-Function Compounds Market 2024

Amine-Function Compounds Market Size in MENA

In 2021, the MENA's amine-function compounds market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. The total consumption indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -10.2% against 2018 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Amine-Function Compounds Production in MENA

In value terms, amine-function compounds production rose sharply to $X in 2021 estimated in export price. Overall, production posted resilient growth. The most prominent rate of growth was recorded in 2016 with an increase of 30% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Amine-Function Compounds Exports

Exports in MENA

In 2021, overseas shipments of amine-function compounds were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports continue to indicate resilient growth. The pace of growth appeared the most rapid in 2017 when exports increased by 77% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, amine-function compounds exports soared to $X in 2021. Over the period under review, exports recorded a remarkable increase. The most prominent rate of growth was recorded in 2018 when exports increased by 63% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the near future.

Exports by Country

Saudi Arabia prevails in exports structure, accounting for X tons, which was near 86% of total exports in 2021. It was distantly followed by Turkey (X tons) and the United Arab Emirates (X tons), together comprising a 14% share of total exports.

Exports from Saudi Arabia increased at an average annual rate of +9.1% from 2012 to 2021. At the same time, the United Arab Emirates (+23.4%) and Turkey (+1.4%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in MENA, with a CAGR of +23.4% from 2012-2021. From 2012 to 2021, the share of the United Arab Emirates and Saudi Arabia increased by +4.5 and +3.9 percentage points, respectively.

In value terms, Saudi Arabia ($X) remains the largest amine-function compounds supplier in MENA, comprising 91% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 4.6% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Saudi Arabia stood at +12.5%. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (+17.7% per year) and Turkey (+5.8% per year).

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, surging by 33% against the previous year. Export price indicated a pronounced increase from 2012 to 2021: its price increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, amine-function compounds export price increased by +77.4% against 2017 indices. As a result, the export 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 exporting countries. In 2021, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while Turkey ($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 (+4.3%), while the other leaders experienced mixed trends in the export price figures.

Amine-Function Compounds Imports

Imports in MENA

In 2021, the amount of amine-function compounds imported in MENA expanded significantly to X tons, with an increase of 7.4% compared with the previous year's figure. The total import volume increased at an average annual rate of +1.8% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, amine-function compounds imports soared to $X in 2021. Overall, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 21% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the near future.

Imports by Country

In 2021, Turkey (X tons), Israel (X tons) and the United Arab Emirates (X tons) represented the main importer of amine-function compounds in MENA, committing 85% of total import. The following importers - Egypt (X tons), Iran (X tons), Iraq (X tons) and Saudi Arabia (X tons) - together made up 9.8% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Iraq (with a CAGR of +44.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest amine-function compounds importing markets in MENA were Turkey ($X), Israel ($X) and the United Arab Emirates ($X), with a combined 81% share of total imports. These countries were followed by Iran, Egypt, Saudi Arabia and Iraq, which together accounted for a further 13%.

In terms of the main importing countries, Iraq, with a CAGR of +26.2%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in MENA stood at $X per ton in 2021, with an increase of 11% against the previous year. In general, the import price, however, saw a mild slump. The most prominent rate of growth was recorded in 2017 when the import price increased by 13%. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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 Iran ($X per ton), while Iraq ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iran (+5.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform