MENA: Aromatic Hydrocarbons Derivatives Market 2024

Aromatic Hydrocarbons Derivatives Market Size in MENA

The MENA's aromatic hydrocarbons derivatives market fell markedly to $X in 2021, waning by -28.5% against the previous year. In general, consumption, however, posted a resilient expansion. As a result, consumption reached the peak level of $X, and then reduced markedly in the following year.

Aromatic Hydrocarbons Derivatives Production in MENA

In value terms, aromatic hydrocarbons derivatives production fell markedly to $X in 2021 estimated in export price. Over the period under review, production, however, saw prominent growth. The pace of growth appeared the most rapid in 2015 when the production volume increased by 6,085% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2021, production growth failed to regain momentum.

Aromatic Hydrocarbons Derivatives Exports

Exports in MENA

In 2021, overseas shipments of halogenated derivatives of aromatic hydrocarbons were finally on the rise to reach X tons after two years of decline. Over the period under review, exports, however, faced a precipitous descent. The pace of growth was the most pronounced in 2015 with an increase of 149,452%. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, aromatic hydrocarbons derivatives exports expanded slightly to $X in 2021. Overall, exports, however, faced a sharp contraction. The most prominent rate of growth was recorded in 2015 with an increase of 16,713% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Israel was the key exporting country with an export of about X tons, which reached 80% of total exports. It was distantly followed by the United Arab Emirates (X tons), committing a 16% share of total exports. Turkey (X tons) followed a long way behind the leaders.

Exports from Israel decreased at an average annual rate of -28.8% from 2012 to 2021. At the same time, the United Arab Emirates (+10.2%) and Turkey (+4.9%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in MENA, with a CAGR of +10.2% from 2012-2021. From 2012 to 2021, the share of the United Arab Emirates and Turkey increased by +15 and +3.8 percentage points, respectively.

In value terms, Israel ($X) remains the largest aromatic hydrocarbons derivatives supplier in MENA, comprising 92% of total exports. The second position in the ranking was held by Turkey ($X), with a 4.8% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Israel totaled -24.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (+5.4% per year) and the United Arab Emirates (+8.2% per year).

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, shrinking by -86.5% against the previous year. Overall, the export price, however, continues to indicate noticeable growth. The pace of growth appeared the most rapid in 2019 when the export price increased by 696%. The level of export peaked at $X per ton in 2020, and then plummeted in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+5.6%), while the other leaders experienced mixed trends in the export price figures.

Aromatic Hydrocarbons Derivatives Imports

Imports in MENA

Aromatic hydrocarbons derivatives imports surged to X tons in 2021, growing by 30% compared with the previous year's figure. Total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +8.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 49% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to continue growth in years to come.

In value terms, aromatic hydrocarbons derivatives imports soared to $X in 2021. Overall, imports recorded a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The countries with the highest levels of aromatic hydrocarbons derivatives imports in 2021 were the United Arab Emirates (X tons), Israel (X tons), Turkey (X tons), Egypt (X tons) and Saudi Arabia (X tons), together resulting at 92% of total import. It was distantly followed by Algeria (X tons), generating a 5.9% share 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 the United Arab Emirates (with a CAGR of +31.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest aromatic hydrocarbons derivatives importing markets in MENA were Israel ($X), Turkey ($X) and Egypt ($X), with a combined 70% share of total imports. These countries were followed by Saudi Arabia, the United Arab Emirates and Algeria, which together accounted for a further 28%.

In terms of the main importing countries, Saudi Arabia, with a CAGR of +43.9%, saw the highest rates of growth with regard to 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

In 2021, the import price in MENA amounted to $X per ton, rising by 15% against the previous year. Import price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +4.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, aromatic hydrocarbons derivatives import price increased by +101.5% against 2015 indices. The most prominent rate of growth was recorded in 2016 an increase of 36%. The level of import peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Israel ($X per ton), while Algeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+11.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform