MENA: Maleic Anhydride Market 2024

Maleic Anhydride Market Size in MENA

After two years of decline, the MENA's maleic anhydride market increased by 95% to $X in 2021. In general, consumption enjoyed a resilient expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Maleic Anhydride Production in MENA

In value terms, maleic anhydride production fell to $X in 2021 estimated in export price. In general, production recorded a pronounced contraction. The most prominent rate of growth was recorded in 2018 with an increase of 9,196%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Maleic Anhydride Exports

Exports in MENA

After two years of decline, overseas shipments of maleic anhydride increased by 51% to X tons in 2021. Over the period under review, exports saw a temperate increase. The most prominent rate of growth was recorded in 2018 when exports increased by 179% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, maleic anhydride exports skyrocketed to $X in 2021. Overall, exports posted a tangible increase. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

The biggest shipments were from the United Arab Emirates (X tons), Turkey (X tons), Israel (X tons) and Iran (X tons), together finishing at 97% of total export. Saudi Arabia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Turkey (with a CAGR of +33.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest maleic anhydride supplying countries in MENA were the United Arab Emirates ($X), Turkey ($X) and Israel ($X), together comprising 89% of total exports.

Turkey, with a CAGR of +35.4%, saw the highest rates of growth with regard to the value of exports, in terms of 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, jumping by 27% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The level of export peaked at $X per ton in 2017; however, from 2018 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 Turkey ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+7.6%), while the other leaders experienced more modest paces of growth.

Maleic Anhydride Imports

Imports in MENA

In 2021, the amount of maleic anhydride imported in MENA surged to X tons, rising by 44% against the previous year's figure. Total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +88.6% against 2016 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, maleic anhydride imports surged to $X in 2021. Over the period under review, imports showed a buoyant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey represented the main importing country with an import of around X tons, which recorded 58% of total imports. It was distantly followed by Saudi Arabia (X tons) and the United Arab Emirates (X tons), together committing a 34% share of total imports. Egypt (X tons) followed a long way behind the leaders.

Turkey was also the fastest-growing in terms of the maleic anhydride imports, with a CAGR of +11.7% from 2012 to 2021. At the same time, Egypt (+7.2%) and the United Arab Emirates (+1.6%) displayed positive paces of growth. Saudi Arabia experienced a relatively flat trend pattern. Turkey (+25 p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates and Saudi Arabia saw its share reduced by -5.6% and -10.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported maleic anhydride in MENA, comprising 58% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a 20% share of total imports. It was followed by the United Arab Emirates, with a 15% share.

In Turkey, maleic anhydride imports increased at an average annual rate of +13.5% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Saudi Arabia (+0.1% 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, increasing by 67% against the previous year. Overall, the import price saw a relatively flat trend pattern. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Egypt ($X per ton) and Saudi Arabia ($X per ton), while the United Arab Emirates ($X per ton) and Turkey ($X per ton) were 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 more modest paces of growth.

Source: IndexBox Platform