MENA: Butanone Market 2024

Butanone Market Size in MENA

The MENA's butanone market rose significantly to $X in 2022, growing by 14% against the previous year. Over the period under review, consumption, however, showed a noticeable slump. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Butanone Production in MENA

In value terms, butanone production reduced slightly to $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 44%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Butanone Exports

Exports in MENA

In 2022, shipments abroad of butanone (methyl ethyl ketone) increased by 16% to X tons, rising for the third year in a row after two years of decline. Over the period under review, exports saw a noticeable increase. The pace of growth was the most pronounced in 2015 when exports increased by 321%. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, butanone exports surged to $X in 2022. Overall, exports recorded resilient growth. The growth pace was the most rapid in 2015 with an increase of 242%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, Turkey (X tons) represented the largest exporter of butanone (methyl ethyl ketone), committing 48% of total exports. The United Arab Emirates (X tons) held the second position in the ranking, distantly followed by Saudi Arabia (X tons), Iran (X tons) and Israel (X tons). All these countries together took approx. 45% share of total exports. The following exporters - Tunisia (X tons) and Jordan (X tons) - together made up 7% of total exports.

From 2012 to 2022, the biggest increases were recorded for Tunisia (with a CAGR of +34.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) remains the largest butanone supplier in MENA, comprising 47% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 19% share of total exports. It was followed by Tunisia, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey totaled +29.0%. In the other countries, the average annual rates were as follows: the United Arab Emirates (-6.1% per year) and Tunisia (+52.7% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, rising by 8.7% against the previous year. Export price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butanone export price increased by +18.4% against 2018 indices. The pace of growth was the most pronounced in 2018 an increase of 37%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Tunisia ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iran (+13.3%), while the other leaders experienced more modest paces of growth.

Butanone Imports

Imports in MENA

In 2022, butanone imports in MENA rose to X tons, with an increase of 3.7% compared with the year before. In general, imports, however, continue to indicate a perceptible setback. The most prominent rate of growth was recorded in 2020 when imports increased by 8.1%. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, butanone imports soared to $X in 2022. Overall, imports, however, saw a noticeable decrease. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Turkey was the main importing country with an import of around X tons, which reached 56% of total imports. It was distantly followed by the United Arab Emirates (X tons), Tunisia (X tons), Egypt (X tons), Israel (X tons), Algeria (X tons) and Morocco (X tons), together mixing up a 40% share of total imports.

Turkey was also the fastest-growing in terms of the butanone (methyl ethyl ketone) imports, with a CAGR of +3.9% from 2012 to 2022. At the same time, Tunisia (+3.6%) displayed positive paces of growth. Algeria experienced a relatively flat trend pattern. By contrast, Israel (-2.7%), Morocco (-5.9%), Egypt (-7.4%) and the United Arab Emirates (-8.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey, Tunisia and Algeria increased by +29, +3.6 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported butanone (methyl ethyl ketone) in MENA, comprising 56% of total imports. The second position in the ranking was held by Egypt ($X), with a 7.7% share of total imports. It was followed by the United Arab Emirates, with a 7.5% share.

In Turkey, butanone imports increased at an average annual rate of +4.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Egypt (-7.1% per year) and the United Arab Emirates (-8.8% per year).

Import Prices by Country

In 2022, the import price in MENA amounted to $X per ton, jumping by 16% against the previous year. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the import price increased by 28% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: 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 2022, the most notable rate of growth in terms of prices was attained by Israel (+5.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform