MENA: Ethylene Market 2024

Ethylene Market Size in MENA

In 2021, the MENA's ethylene market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. Over the period under review, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Ethylene Production in MENA

In value terms, ethylene production stood at $X in 2021 estimated in export price. The total production indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -19.8% against 2017 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by 36%. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Ethylene Exports

Exports in MENA

In 2021, exports of ethylene in MENA declined slightly to X tons, reducing by -2.2% against the previous year's figure. Over the period under review, exports continue to indicate a abrupt contraction. The pace of growth was the most pronounced in 2016 with an increase of 101% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, ethylene exports surged to $X in 2021. In general, exports showed a abrupt descent. The pace of growth was the most pronounced in 2016 when exports increased by 95% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The shipments of the four major exporters of ethylene, namely the United Arab Emirates, Libya, Saudi Arabia and Turkey, represented more than two-thirds of total export. Iran (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +23.1%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Libya ($X), the United Arab Emirates ($X) and Saudi Arabia ($X) appeared to be the countries with the highest levels of exports in 2021, together comprising 90% of total exports.

Libya, with a CAGR of +19.5%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in MENA stood at $X per ton in 2021, with an increase of 21% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.0%. The growth pace was the most rapid in 2013 when the export price increased by 27% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Libya (+3.5%), while the other leaders experienced mixed trends in the export price figures.

Ethylene Imports

Imports in MENA

In 2021, overseas purchases of ethylene increased by 68% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports posted a tangible increase. The growth pace was the most rapid in 2014 when imports increased by 172%. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, ethylene imports surged to $X in 2021. Over the period under review, imports posted slight growth. The growth pace was the most rapid in 2014 when imports increased by 160%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Qatar (X tons) was the largest importer of ethylene, mixing up 51% of total imports. It was distantly followed by Morocco (X tons), Algeria (X tons), Oman (X tons) and Turkey (X tons), together comprising a 46% share of total imports. Libya (X tons) followed a long way behind the leaders.

Qatar was also the fastest-growing in terms of the ethylene imports, with a CAGR of +20.3% from 2012 to 2021. At the same time, Oman (+12.5%) and Morocco (+7.1%) displayed positive paces of growth. By contrast, Algeria (-1.1%), Libya (-14.7%) and Turkey (-18.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Qatar, Morocco and Oman increased by +51, +7.2 and +4.5 percentage points, respectively.

In value terms, the largest ethylene importing markets in MENA were Qatar ($X), Morocco ($X) and Algeria ($X), together accounting for 86% of total imports.

Qatar, with a CAGR of +16.9%, saw the highest growth rate of 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 2021, the import price in MENA amounted to $X per ton, increasing by 43% against the previous year. Overall, the import price, however, showed a slight setback. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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 Turkey ($X per ton), while Oman ($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 (+1.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform