MENA: Odoriferous Substance Mixture Market 2024

Odoriferous Substance Mixture Market Size in MENA

In 2022, the MENA's odoriferous substance mixture market decreased by -3.4% to $X, falling for the second consecutive year after five years of growth. The total consumption indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -7.3% against 2020 indices. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Odoriferous Substance Mixture Production in MENA

In value terms, odoriferous substance mixture production declined to $X in 2022 estimated in export price. Over the period under review, production posted buoyant growth. The growth pace was the most rapid in 2018 with an increase of 93% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Odoriferous Substance Mixture Exports

Exports in MENA

Odoriferous substance mixture exports skyrocketed to X tons in 2022, growing by 39% against the year before. Over the period under review, exports showed a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, odoriferous substance mixture exports skyrocketed to $X in 2022. In general, exports recorded resilient growth. The growth pace was the most rapid in 2013 when exports increased by 43%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

Egypt represented the main exporting country with an export of about X tons, which recorded 56% of total exports. Turkey (X tons) took a 34% share (based on physical terms) of total exports, which put it in second place, followed by the United Arab Emirates (5.9%).

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +19.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest odoriferous substance mixture supplying countries in MENA were Egypt ($X), Turkey ($X) and the United Arab Emirates ($X), together accounting for 97% of total exports.

In terms of the main exporting countries, Turkey, with a CAGR of +21.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, which is down by -10.2% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 24% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+10.5%), while the other leaders experienced mixed trends in the export price figures.

Odoriferous Substance Mixture Imports

Imports in MENA

For the eleventh consecutive year, MENA recorded growth in supplies from abroad of mixtures of odoriferous substances and their preparations, which increased by 0.5% to X tons in 2022. Total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +65.7% against 2012 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 20% against the previous year. The volume of import peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, odoriferous substance mixture imports amounted to $X in 2022. Total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by +0.8% against 2019 indices. The growth pace was the most rapid in 2019 when imports increased by 29%. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, Turkey (X tons), Algeria (X tons) and the United Arab Emirates (X tons) was the key importer of mixtures of odoriferous substances and their preparations in MENA, mixing up 52% of total import. Iran (X tons) took a 7.4% share (based on physical terms) of total imports, which put it in second place, followed by Iraq (6.2%), Saudi Arabia (5.4%) and Israel (5.1%). The following importers - Morocco (X tons), Egypt (X tons), Libya (X tons), Yemen (X tons), Tunisia (X tons) and Syrian Arab Republic (X tons) - together made up 18% of total imports.

From 2012 to 2022, the biggest increases were recorded for Iraq (with a CAGR of +19.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Turkey ($X) and Algeria ($X) constituted the countries with the highest levels of imports in 2022, with a combined 52% share of total imports. Saudi Arabia, Iran, Israel, Iraq, Egypt, Libya, Morocco, Tunisia, Syrian Arab Republic and Yemen lagged somewhat behind, together comprising a further 40%.

Iraq, with a CAGR of +14.7%, saw the highest growth rate of the value of imports, among 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

The import price in MENA stood at $X per ton in 2022, leveling off at the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the import price increased by 7.7% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2022, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Yemen ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+6.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform