MENA: Market for Benzoyl Peroxide And Benzoyl Chloride 2024

Market Size for Benzoyl Peroxide And Benzoyl Chloride in MENA

The MENA's benzoyl peroxide and chloride market surged to $X in 2022, picking up by 59% against the previous year. In general, consumption recorded a resilient increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Benzoyl Peroxide And Benzoyl Chloride in MENA

In value terms, benzoyl peroxide and chloride production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.9% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of 41% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Exports of Benzoyl Peroxide And Benzoyl Chloride

Exports in MENA

In 2022, overseas shipments of benzoyl peroxide and benzoyl chloride increased by 71% to X tons, rising for the second consecutive year after two years of decline. In general, exports enjoyed a prominent increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, benzoyl peroxide and chloride exports soared to $X in 2022. Overall, exports posted significant growth. The pace of growth was the most pronounced in 2021 with an increase of 101% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in years to come.

Exports by Country

Turkey (X tons) represented roughly 97% of total exports in 2022.

Turkey was also the fastest-growing in terms of the benzoyl peroxide and benzoyl chloride exports, with a CAGR of +19.5% from 2012 to 2022. Turkey (+20 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, Turkey ($X) also remains the largest benzoyl peroxide and chloride supplier in MENA.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey stood at +23.7%.

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, with an increase of 6.3% against the previous year. Export price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, benzoyl peroxide and chloride export price increased by +63.4% against 2017 indices. The pace of growth was the most pronounced in 2021 an increase of 33% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

As there is only one major export destination, the average price level is determined by prices for Turkey.

From 2012 to 2022, the rate of growth in terms of prices for Turkey amounted to +3.5% per year.

Imports of Benzoyl Peroxide And Benzoyl Chloride

Imports in MENA

In 2022, the amount of benzoyl peroxide and benzoyl chloride imported in MENA skyrocketed to X tons, growing by 59% compared with 2021 figures. Overall, imports saw prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, benzoyl peroxide and chloride imports soared to $X in 2022. Over the period under review, imports posted resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey prevails in imports structure, accounting for X tons, which was near 72% of total imports in 2022. The United Arab Emirates (X tons) ranks second in terms of the total imports with a 7.5% share, followed by Iran (6.9%) and Egypt (6.9%). Israel (X tons) held a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to benzoyl peroxide and chloride imports into Turkey stood at +22.8%. At the same time, the United Arab Emirates (+27.2%), Egypt (+10.5%), Iran (+4.7%) and Israel (+2.6%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in MENA, with a CAGR of +27.2% from 2012-2022. While the share of Turkey (+31 p.p.) and the United Arab Emirates (+4.5 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Egypt (-4.4 p.p.), Israel (-5.2 p.p.) and Iran (-12.4 p.p.) displayed negative dynamics.

In value terms, Turkey ($X) constitutes the largest market for imported benzoyl peroxide and benzoyl chloride in MENA, comprising 64% of total imports. The second position in the ranking was taken by Egypt ($X), with an 8.8% share of total imports. It was followed by Iran, with a 7.8% share.

In Turkey, benzoyl peroxide and chloride imports increased at an average annual rate of +23.3% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Egypt (+15.1% per year) and Iran (+5.8% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, increasing by 7.6% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the import price increased by 26% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Egypt ($X per ton), while the United Arab Emirates ($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 (+4.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform