MENA: Octyl Alcohol Market 2024

Octyl Alcohol Market Size in MENA

The MENA's octyl alcohol market amounted to $X in 2022, picking up by 9.3% against the previous year. Overall, consumption posted a buoyant increase. The level of consumption peaked in 2022 and is expected to retain growth in the near future.

Octyl Alcohol Production in MENA

In value terms, octyl alcohol production stood at $X in 2022 estimated in export price. The total production indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.6% against 2020 indices. The pace of growth appeared the most rapid in 2020 when the production volume increased by 17% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Octyl Alcohol Exports

Exports in MENA

In 2022, shipments abroad of octanol (octyl alcohol) and isomers thereof decreased by -3.3% to X tons for the first time since 2016, thus ending a five-year rising trend. The total export volume increased at an average annual rate of +2.8% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when exports increased by 9% against the previous year. The volume of export peaked at X tons in 2021, and then reduced modestly in the following year.

In value terms, octyl alcohol exports declined modestly to $X in 2022. The total export value increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 5.8%. As a result, the exports attained the peak of $X, and then contracted in the following year.

Exports by Country

Saudi Arabia (X tons) represented roughly 99% of total exports in 2022.

Saudi Arabia was also the fastest-growing in terms of the octanol (octyl alcohol) and isomers thereof exports, with a CAGR of +2.8% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) also remains the largest octyl alcohol supplier in MENA.

In Saudi Arabia, octyl alcohol exports expanded at an average annual rate of +1.8% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, approximately equating the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the export price increased by 1.3%. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Saudi Arabia.

From 2012 to 2022, the rate of growth in terms of prices for Saudi Arabia amounted to -1.0% per year.

Octyl Alcohol Imports

Imports in MENA

In 2022, approx. X tons of octanol (octyl alcohol) and isomers thereof were imported in MENA; with an increase of 7.3% against the year before. Total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +6.8% 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 +83.0% against 2018 indices. The most prominent rate of growth was recorded in 2021 with an increase of 53%. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, octyl alcohol imports skyrocketed to $X in 2022. Overall, imports enjoyed strong growth. The pace of growth appeared the most rapid in 2021 with an increase of 132%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

Turkey dominates imports structure, finishing at X tons, which was near 94% of total imports in 2022. The United Arab Emirates (X tons) followed a long way behind the leaders.

Turkey was also the fastest-growing in terms of the octanol (octyl alcohol) and isomers thereof imports, with a CAGR of +8.0% from 2012 to 2022. The United Arab Emirates (-3.8%) illustrated a downward trend over the same period. Turkey (+9.9 p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates saw its share reduced by -3% from 2012 to 2022, respectively.

In value terms, Turkey ($X) constitutes the largest market for imported octanol (octyl alcohol) and isomers thereof in MENA, comprising 94% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 1.4% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Turkey stood at +8.8%.

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, surging by 7.2% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the import price increased by 52%. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Turkey ($X per ton), while the United Arab Emirates stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+0.7%).

Source: IndexBox Platform