MENA: Diphosphorus Pentaoxide Market 2024

Diphosphorus Pentaoxide Market Size in MENA

The MENA's diphosphorus pentaoxide market amounted to $X in 2022, with an increase of 3.9% against the previous year. Overall, consumption posted strong growth. The level of consumption peaked in 2022 and is likely to see steady growth in the near future.

Diphosphorus Pentaoxide Production in MENA

In value terms, diphosphorus pentaoxide production contracted slightly to $X in 2022 estimated in export price. In general, production, however, saw a prominent increase. The most prominent rate of growth was recorded in 2018 with an increase of 44% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Diphosphorus Pentaoxide Exports

Exports in MENA

Diphosphorus pentaoxide exports reduced rapidly to X tons in 2022, with a decrease of -84.9% compared with the year before. In general, exports, however, enjoyed a tangible increase. The most prominent rate of growth was recorded in 2021 with an increase of 1,141%. As a result, the exports attained the peak of X tons, and then plummeted in the following year.

In value terms, diphosphorus pentaoxide exports contracted markedly to $X in 2022. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 882% against the previous year. As a result, the exports reached the peak of $X, and then declined remarkably in the following year.

Exports by Country

Turkey represented the key exporting country with an export of about X tons, which accounted for 86% of total exports. It was distantly followed by Israel (X tons), creating a 10% share of total exports. The United Arab Emirates (X tons) held a little share of total exports.

Turkey was also the fastest-growing in terms of the diphosphorus pentaoxide exports, with a CAGR of +59.1% from 2012 to 2022. Israel (-3.4%) and the United Arab Emirates (-17.3%) illustrated a downward trend over the same period. Turkey (+86 p.p.) significantly strengthened its position in terms of the total exports, while Israel and the United Arab Emirates saw its share reduced by -12.3% and -37.5% from 2012 to 2022, respectively.

In value terms, Turkey ($X) remains the largest diphosphorus pentaoxide supplier in MENA, comprising 78% of total exports. The second position in the ranking was held by Israel ($X), with a 17% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey stood at +65.3%. In the other countries, the average annual rates were as follows: Israel (+0.5% per year) and the United Arab Emirates (-20.5% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, declining by -7% against the previous year. In general, the export price showed a noticeable downturn. The pace of growth appeared the most rapid in 2014 an increase of 61% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

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 Israel ($X per ton), while Turkey ($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 (+4.1%), while the other leaders experienced mixed trends in the export price figures.

Diphosphorus Pentaoxide Imports

Imports in MENA

Diphosphorus pentaoxide imports soared to X tons in 2022, jumping by 18% compared with the previous year's figure. Overall, imports showed a prominent expansion. The pace of growth was the most pronounced in 2013 when imports increased by 436%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, diphosphorus pentaoxide imports surged to $X in 2022. Over the period under review, imports recorded a strong increase. The pace of growth appeared the most rapid in 2013 when imports increased by 73%. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the near future.

Imports by Country

Turkey represented the largest importing country with an import of around X tons, which reached 73% of total imports. Oman (X tons) took a 14% share (based on physical terms) of total imports, which put it in second place, followed by Egypt (5.7%). The following importers - Iran (X tons) and Israel (X tons) - together made up 5.6% of total imports.

Imports into Turkey increased at an average annual rate of +7.1% from 2012 to 2022. At the same time, Iran (+19.3%), Oman (+19.3%) and Egypt (+4.0%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing importer imported in MENA, with a CAGR of +19.3% from 2012-2022. By contrast, Israel (-7.7%) illustrated a downward trend over the same period. While the share of Oman (+9.4 p.p.) and Iran (+2.3 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Egypt (-1.8 p.p.) and Israel (-7.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported diphosphorus pentaoxide in MENA, comprising 83% of total imports. The second position in the ranking was taken by Oman ($X), with a 9.4% share of total imports. It was followed by Egypt, with a 3.2% share.

In Turkey, diphosphorus pentaoxide imports expanded at an average annual rate of +13.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Oman (+19.4% per year) and Egypt (+3.4% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, increasing by 36% against the previous year. Over the period under review, the import price showed a remarkable increase. The pace of growth appeared the most rapid in 2014 when the import price increased by 243%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+6.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform