MENA: Monophenols Market 2024

Monophenols Market Size in MENA

The MENA's monophenols market was finally on the rise to reach $X in 2021, after two years of decline. The market value increased at an average annual rate of +1.8% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Monophenols Production in MENA

In value terms, monophenols production rose sharply to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 20%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Monophenols Exports

Exports in MENA

In 2021, shipments abroad of monophenols was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports enjoyed a buoyant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, monophenols exports soared to $X in 2021. Over the period under review, exports recorded a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey represented the largest exporter of monophenols in MENA, with the volume of exports amounting to X tons, which was near 48% of total exports in 2021. Jordan (X tons) held the second position in the ranking, distantly followed by the United Arab Emirates (X tons) and Egypt (X tons). All these countries together held approx. 47% share of total exports. Saudi Arabia (X tons) took a relatively small share of total exports.

From 2012 to 2021, the biggest increases were recorded for Jordan (with a CAGR of +51.1%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Turkey ($X) emerged as the largest monophenols supplier in MENA, comprising 67% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with an 18% share of total exports. It was followed by Egypt, with a 5.8% share.

From 2012 to 2021, the average annual growth rate of value in Turkey amounted to +24.8%. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (-7.4% per year) and Egypt (-6.1% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2021, falling by -21.3% against the previous year. In general, the export price showed a drastic downturn. The growth pace was the most rapid in 2017 an increase of 17%. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was the United Arab Emirates ($X per ton), while Jordan ($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 (+2.0%), while the other leaders experienced a decline in the export price figures.

Monophenols Imports

Imports in MENA

In 2021, purchases abroad of monophenols was finally on the rise to reach X tons after two years of decline. Total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, monophenols imports surged to $X in 2021. Total imports indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey prevails in imports structure, accounting for X tons, which was near 76% of total imports in 2021. Saudi Arabia (X tons) ranks second in terms of the total imports with an 8.6% share, followed by Iran (5.1%). Israel (X tons) and the United Arab Emirates (X tons) followed a long way behind the leaders.

Turkey was also the fastest-growing in terms of the monophenols imports, with a CAGR of +12.7% from 2012 to 2021. Israel (-1.6%), the United Arab Emirates (-2.0%), Saudi Arabia (-3.3%) and Iran (-7.2%) illustrated a downward trend over the same period. Turkey (+35 p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates, Israel, Saudi Arabia and Iran saw its share reduced by -2.6%, -3.6%, -9.8% and -10.7% from 2012 to 2021, respectively.

In value terms, Turkey ($X) constitutes the largest market for imported monophenols in MENA, comprising 71% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with an 11% share of total imports. It was followed by the United Arab Emirates, with a 6.3% share.

In Turkey, monophenols imports expanded at an average annual rate of +12.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Saudi Arabia (-5.3% per year) and the United Arab Emirates (+8.3% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2021, with an increase of 28% against the previous year. In general, the import price, however, recorded a mild descent. 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.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was the United Arab Emirates ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+10.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform