MENA: Polyphenols And Phenol-Alcohols Market 2024

Polyphenols And Phenol-Alcohols Market Size in MENA

For the third consecutive year, the MENA's polyphenols and phenol-alcohols market recorded growth in sales value, which increased by 3.2% to $X in 2022. The market value increased at an average annual rate of +6.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2022 and is likely to see steady growth in years to come.

Polyphenols And Phenol-Alcohols Production in MENA

In value terms, polyphenols and phenol-alcohols production shrank to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the production volume increased by 142%. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Polyphenols And Phenol-Alcohols Exports

Exports in MENA

In 2022, after five years of growth, there was decline in shipments abroad of polyphenols and phenol-alcohols, when their volume decreased by -2.8% to X tons. In general, exports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 154% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, polyphenols and phenol-alcohols exports expanded to $X in 2022. Over the period under review, exports, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 120% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Saudi Arabia was the major exporter of polyphenols and phenol-alcohols in MENA, with the volume of exports resulting at X tons, which was near 69% of total exports in 2022. Turkey (X tons) took the second position in the ranking, distantly followed by Jordan (X tons). All these countries together took approx. 23% share of total exports. Israel (X tons), Iran (X tons) and the United Arab Emirates (X tons) followed a long way behind the leaders.

Exports from Saudi Arabia increased at an average annual rate of +10.7% from 2012 to 2022. At the same time, Iran (+33.4%), Turkey (+28.2%) and Jordan (+4.2%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing exporter exported in MENA, with a CAGR of +33.4% from 2012-2022. Israel experienced a relatively flat trend pattern. By contrast, the United Arab Emirates (-18.4%) illustrated a downward trend over the same period. Saudi Arabia (+21 p.p.), Turkey (+13 p.p.) and Iran (+2.1 p.p.) significantly strengthened its position in terms of the total exports, while Jordan, Israel and the United Arab Emirates saw its share reduced by -1.8%, -3.6% and -29.6% from 2012 to 2022, respectively.

In value terms, the largest polyphenols and phenol-alcohols supplying countries in MENA were Turkey ($X), Saudi Arabia ($X) and Jordan ($X), with a combined 90% share of total exports.

Turkey, with a CAGR of +32.4%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, surging by 6.5% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 156%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, 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 2022, the most notable rate of growth in terms of prices was attained by Jordan (+13.5%), while the other leaders experienced more modest paces of growth.

Polyphenols And Phenol-Alcohols Imports

Imports in MENA

Polyphenols and phenol-alcohols imports totaled X tons in 2022, surging by 7.8% against the previous year. Total imports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +7.7% 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 +65.5% against 2016 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 89% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, polyphenols and phenol-alcohols imports rose notably to $X in 2022. Total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +10.3% 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 +98.9% against 2016 indices. The most prominent rate of growth was recorded in 2013 with an increase of 101%. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, Saudi Arabia (X tons) represented the main importer of polyphenols and phenol-alcohols, committing 41% of total imports. The United Arab Emirates (X tons) held a 16% share (based on physical terms) of total imports, which put it in second place, followed by Turkey (16%), Israel (11%) and Egypt (4.7%). The following importers - Lebanon (X tons) and Iran (X tons) - each reached a 6.3% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to polyphenols and phenol-alcohols imports into Saudi Arabia stood at +16.0%. At the same time, Lebanon (+29.0%), Israel (+24.7%), the United Arab Emirates (+19.4%) and Turkey (+3.0%) displayed positive paces of growth. Moreover, Lebanon emerged as the fastest-growing importer imported in MENA, with a CAGR of +29.0% from 2012-2022. By contrast, Egypt (-4.8%) and Iran (-12.0%) illustrated a downward trend over the same period. While the share of Saudi Arabia (+22 p.p.), the United Arab Emirates (+10 p.p.), Israel (+8.2 p.p.) and Lebanon (+2.9 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Turkey (-8.7 p.p.), Egypt (-11.3 p.p.) and Iran (-18.8 p.p.) displayed negative dynamics.

In value terms, Saudi Arabia ($X), Turkey ($X) and the United Arab Emirates ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 60% of total imports. Israel, Iran, Lebanon and Egypt lagged somewhat behind, together comprising a further 24%.

Among the main importing countries, Lebanon, with a CAGR of +33.8%, recorded 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

The import price in MENA stood at $X per ton in 2022, stabilizing at the previous year. Over the last decade, it increased at an average annual rate of +2.4%. The growth pace was the most rapid in 2016 when the import price increased by 22% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

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 Iran ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iran (+9.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform