MENA: Cyclic Hydrocarbons Market 2024

Cyclic Hydrocarbons Market Size in MENA

The MENA's cyclic hydrocarbons market reduced slightly to $X in 2021, remaining relatively unchanged against the previous year. Over the period under review, consumption recorded a noticeable curtailment. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Cyclic Hydrocarbons Production in MENA

In value terms, cyclic hydrocarbons production expanded modestly to $X in 2021 estimated in export price. In general, production, however, recorded a mild contraction. The most prominent rate of growth was recorded in 2013 with an increase of 20%. The level of production peaked at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Cyclic Hydrocarbons Exports

Exports in MENA

In 2021, overseas shipments of other cyclic hydrocarbons were finally on the rise to reach X tons after three years of decline. Overall, exports, however, recorded a noticeable slump. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, cyclic hydrocarbons exports surged to $X in 2021. Total exports indicated a mild expansion from 2012 to 2021: its value increased at an average annual rate of +1.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the exports reached the maximum at $X in 2018; afterwards, it flattened through to 2021.

Exports by Country

Israel (X tons) and Saudi Arabia (X tons) represented the key exporters of other cyclic hydrocarbons in 2021, amounting to near 39% and 38% of total exports, respectively. It was distantly followed by the United Arab Emirates (X tons), committing a 21% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Saudi Arabia (with a CAGR of +40.7%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Israel ($X) remains the largest cyclic hydrocarbons supplier in MENA, comprising 73% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 13% share of total exports.

In Israel, cyclic hydrocarbons exports remained relatively stable over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (+30.2% per year) and the United Arab Emirates (+8.6% per year).

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, which is down by -12.4% against the previous year. Overall, the export price, however, recorded a temperate expansion. The growth pace was the most rapid in 2018 an increase of 45% against the previous year. The level of export peaked at $X per ton in 2020, and then reduced in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Israel ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+12.6%), while the other leaders experienced a decline in the export price figures.

Cyclic Hydrocarbons Imports

Imports in MENA

In 2021, supplies from abroad of other cyclic hydrocarbons increased by 83% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, saw a deep setback. The growth pace was the most rapid in 2015 with an increase of 84% against the previous year. Over the period under review, imports attained the maximum at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, cyclic hydrocarbons imports soared to $X in 2021. Over the period under review, imports, however, continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2015 when imports increased by 55%. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Saudi Arabia (X tons) and the United Arab Emirates (X tons) were the main importers of other cyclic hydrocarbons in 2021, resulting at near 41% and 28% of total imports, respectively. Israel (X tons) took the next position in the ranking, followed by Turkey (X tons). All these countries together took approx. 23% share of total imports. Kuwait (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the United Arab Emirates (with a CAGR of +31.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cyclic hydrocarbons importing markets in MENA were Saudi Arabia ($X), Turkey ($X) and the United Arab Emirates ($X), together comprising 71% of total imports.

Among the main importing countries, the United Arab Emirates, with a CAGR of +17.3%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in MENA amounted to $X per ton, dropping by -17.1% against the previous year. Over the period under review, the import price, however, enjoyed moderate growth. The pace of growth was the most pronounced in 2019 when the import price increased by 53%. The level of import peaked at $X per ton in 2020, and then shrank significantly in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+3.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform