MENA: Ketone And Quinone Market 2024

Ketone And Quinone Market Size in MENA

The MENA's ketone and quinone market amounted to $X in 2021, increasing by 3.1% against the previous year. Over the period under review, consumption saw a slight reduction. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Ketone And Quinone Production in MENA

In value terms, ketone and quinone production shrank to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a sharp decline. The most prominent rate of growth was recorded in 2013 when the production volume increased by 82%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Ketone And Quinone Exports

Exports in MENA

In 2021, approx. X tons of ketones and quinones were exported in MENA; increasing by 45% against the previous year's figure. Over the period under review, exports showed resilient growth. The most prominent rate of growth was recorded in 2018 with an increase of 77%. The volume of export peaked in 2021 and is likely to see steady growth in the near future.

In value terms, ketone and quinone exports soared to $X in 2021. Overall, exports posted a buoyant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Saudi Arabia dominates exports structure, recording X tons, which was approx. 94% of total exports in 2021. Turkey (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to ketone and quinone exports from Saudi Arabia stood at +15.2%. At the same time, Turkey (+24.8%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in MENA, with a CAGR of +24.8% from 2012-2021. While the share of Saudi Arabia (+2.4 p.p.) and Turkey (+2.1 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest ketone and quinone supplier in MENA, comprising 70% of total exports. The second position in the ranking was held by Turkey ($X), with a 13% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Saudi Arabia amounted to +16.2%.

Export Prices by Country

The export price in MENA stood at $X per ton in 2021, rising by 16% against the previous year. In general, the export price, however, saw a pronounced slump. The pace of growth appeared the most rapid in 2020 when the export price increased by 44% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Turkey ($X per ton), while Saudi Arabia stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+0.9%).

Ketone And Quinone Imports

Imports in MENA

Ketone and quinone imports surged to X tons in 2021, with an increase of 37% compared with 2020. The total import volume increased at an average annual rate of +2.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, ketone and quinone imports soared to $X in 2021. Total imports indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +2.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +53.0% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey was the major importing country with an import of around X tons, which amounted to 51% of total imports. The United Arab Emirates (X tons) ranks second in terms of the total imports with a 15% share, followed by Israel (14%) and Iran (4.9%). The following importers - Morocco (X tons) and Egypt (X tons) - together made up 7.3% of total imports.

Imports into Turkey increased at an average annual rate of +6.9% from 2012 to 2021. At the same time, Israel (+25.9%) and Egypt (+1.7%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing importer imported in MENA, with a CAGR of +25.9% from 2012-2021. Morocco experienced a relatively flat trend pattern. By contrast, the United Arab Emirates (-1.2%) and Iran (-8.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Turkey and Israel increased by +16 and +12 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported ketones and quinones in MENA, comprising 44% of total imports. The second position in the ranking was held by Israel ($X), with a 16% share of total imports. It was followed by the United Arab Emirates, with a 12% share.

From 2012 to 2021, the average annual growth rate of value in Turkey stood at +7.2%. The remaining importing countries recorded the following average annual rates of imports growth: Israel (+0.4% per year) and the United Arab Emirates (+1.1% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2021, growing by 9.8% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the import price increased by 22% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Egypt ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iran (+5.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform