MENA: Propene Market 2024

Propene Market Size in MENA

In 2021, the MENA's propene market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Propene Production in MENA

In value terms, propene production rose to $X in 2021 estimated in export price. Overall, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by 14%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Propene Exports

Exports in MENA

In 2021, exports of propene (propylene) in MENA surged to X tons, rising by 36% on the year before. Over the period under review, exports, however, continue to indicate a mild descent. The most prominent rate of growth was recorded in 2018 when exports increased by 82% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, propene exports soared to $X in 2021. In general, exports, however, recorded a noticeable descent. The most prominent rate of growth was recorded in 2018 with an increase of 101% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates was the major exporting country with an export of around X tons, which resulted at 56% of total exports. Saudi Arabia (X tons) took the second position in the ranking, distantly followed by Turkey (X tons). All these countries together took approx. 42% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by the United Arab Emirates (with a CAGR of +33.3%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest propene supplying countries in MENA were the United Arab Emirates ($X), Saudi Arabia ($X) and Turkey ($X), together comprising 98% of total exports.

Among the main exporting countries, the United Arab Emirates, with a CAGR of +30.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, with an increase of 44% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (-0.2%), while the other leaders experienced a decline in the export price figures.

Propene Imports

Imports in MENA

Propene imports surged to X tons in 2021, with an increase of 16% on 2020. Over the period under review, imports saw a buoyant expansion. The pace of growth was the most pronounced in 2016 when imports increased by 372%. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, propene imports soared to $X in 2021. In general, imports continue to indicate a moderate increase. The pace of growth was the most pronounced in 2016 when imports increased by 263%. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

Egypt represented the main importer of propene (propylene) in MENA, with the volume of imports resulting at X tons, which was near 69% of total imports in 2021. Saudi Arabia (X tons) took the second position in the ranking, distantly followed by Turkey (X tons). All these countries together took approx. 29% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to propene imports into Egypt stood at +4.6%. At the same time, Turkey (+21.2%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing importer imported in MENA, with a CAGR of +21.2% from 2012-2021. By contrast, Saudi Arabia (-28.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Saudi Arabia and Turkey increased by +20 and +6.1 percentage points, respectively.

In value terms, Egypt ($X) constitutes the largest market for imported propene (propylene) in MENA, comprising 76% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with an 18% share of total imports.

In Egypt, propene imports increased at an average annual rate of +2.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Saudi Arabia (-22.1% per year) and Turkey (+6.2% per year).

Import Prices by Country

In 2021, the import price in MENA amounted to $X per ton, picking up by 29% against the previous year. Over the period under review, the import price, however, saw a perceptible reduction. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Egypt ($X per ton), while Turkey ($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 (+9.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform