MENA: Hydrogen Chloride Market 2024

Hydrogen Chloride Market Size in MENA

The MENA's hydrogen chloride market totaled $X in 2021, approximately mirroring the previous year. In general, consumption, however, recorded a mild slump. The most prominent rate of growth was recorded in 2018 with an increase of 3.2%. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Hydrogen Chloride Production in MENA

In value terms, hydrogen chloride production expanded modestly to $X in 2021 estimated in export price. Over the period under review, production, however, showed a mild contraction. The most prominent rate of growth was recorded in 2018 when the production volume increased by 3.3%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Hydrogen Chloride Exports

Exports in MENA

Hydrogen chloride exports skyrocketed to X tons in 2021, surging by 46% on 2020. Total exports indicated modest growth from 2012 to 2021: its volume increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +111.7% against 2016 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, hydrogen chloride exports skyrocketed to $X in 2021. In general, exports enjoyed a notable expansion. The pace of growth was the most pronounced in 2019 with an increase of 59% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in years to come.

Exports by Country

In 2021, Saudi Arabia (X tons) represented the main exporter of hydrogen chloride (hydrochloric acid), achieving 45% of total exports. It was distantly followed by the United Arab Emirates (X tons), Egypt (X tons), Kuwait (X tons) and Iran (X tons), together achieving a 47% share of total exports. The following exporters - Jordan (X tons) and Turkey (X tons) - together made up 5.6% of total exports.

Exports from Saudi Arabia increased at an average annual rate of +1.9% from 2012 to 2021. At the same time, the United Arab Emirates (+44.4%), Iran (+22.7%), Egypt (+6.5%) and Turkey (+3.0%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in MENA, with a CAGR of +44.4% from 2012-2021. By contrast, Kuwait (-6.7%) and Jordan (-14.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United Arab Emirates, Egypt, Iran and Saudi Arabia increased by +18, +5.1, +3.7 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest hydrogen chloride supplier in MENA, comprising 54% of total exports. The second position in the ranking was held by Egypt ($X), with a 19% share of total exports. It was followed by the United Arab Emirates, with a 6.2% share.

In Saudi Arabia, hydrogen chloride exports expanded at an average annual rate of +7.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Egypt (+7.7% per year) and the United Arab Emirates (+19.2% per year).

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, picking up by 5.9% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the export price increased by 30%. Over the period under review, the export prices reached the peak figure in 2021 and is expected to retain growth in the immediate term.

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 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 Saudi Arabia (+5.7%), while the other leaders experienced mixed trends in the export price figures.

Hydrogen Chloride Imports

Imports in MENA

In 2021, after two years of decline, there was significant growth in overseas purchases of hydrogen chloride (hydrochloric acid), when their volume increased by 7.1% to X tons. Overall, imports, however, showed a deep reduction. The pace of growth was the most pronounced in 2017 with an increase of 55% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, hydrogen chloride imports stood at $X in 2021. Over the period under review, imports, however, saw a pronounced slump. The growth pace was the most rapid in 2019 with an increase of 31%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Kuwait was the key importing country with an import of around X tons, which resulted at 57% of total imports. Syrian Arab Republic (X tons) held an 11% share (based on physical terms) of total imports, which put it in second place, followed by Jordan (9%), Israel (6%) and Oman (5.8%). The following importers - Turkey (X tons) and Lebanon (X tons) - each reached a 4.3% share of total imports.

Kuwait was also the fastest-growing in terms of the hydrogen chloride (hydrochloric acid) imports, with a CAGR of +28.9% from 2012 to 2021. At the same time, Oman (+13.9%), Jordan (+6.6%), Lebanon (+6.4%), Syrian Arab Republic (+4.7%) and Israel (+4.1%) displayed positive paces of growth. By contrast, Turkey (-8.5%) illustrated a downward trend over the same period. While the share of Kuwait (+54 p.p.), Syrian Arab Republic (+7.4 p.p.), Jordan (+6.3 p.p.), Oman (+4.8 p.p.) and Israel (+3.8 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Kuwait ($X) constitutes the largest market for imported hydrogen chloride (hydrochloric acid) in MENA, comprising 46% of total imports. The second position in the ranking was held by Israel ($X), with a 9.9% share of total imports. It was followed by Oman, with a 7.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Kuwait amounted to +37.1%. In the other countries, the average annual rates were as follows: Israel (-3.8% per year) and Oman (+18.6% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2021, falling by -1.9% against the previous year. Import price indicated a pronounced increase from 2012 to 2021: its price increased at an average annual rate of +2.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, hydrogen chloride import price increased by +99.3% against 2018 indices. The most prominent rate of growth was recorded in 2019 when the import price increased by 75% against the previous year. The level of import peaked at $X per ton in 2020, and then reduced slightly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Turkey ($X per ton), while Syrian Arab Republic ($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 (+12.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform