MENA: Market for Reaction Initiators, Reaction Accelerators And Catalytic Preparations 2024

Market Size for Reaction Initiators, Reaction Accelerators And Catalytic Preparations in MENA

The MENA's reaction initiators and accelerators market expanded significantly to $X in 2022, growing by 5.7% against the previous year. In general, consumption posted prominent growth. Over the period under review, the market reached the peak level in 2022 and is likely to see gradual growth in years to come.

Production of Reaction Initiators, Reaction Accelerators And Catalytic Preparations in MENA

In value terms, reaction initiators and accelerators production contracted modestly to $X in 2022 estimated in export price. Over the period under review, production showed a significant expansion. The most prominent rate of growth was recorded in 2017 when the production volume increased by 173%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Reaction Initiators, Reaction Accelerators And Catalytic Preparations

Exports in MENA

In 2022, the amount of reaction initiators, reaction accelerators and catalytic preparations exported in MENA reduced slightly to X tons, waning by -3.3% on the year before. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by 144%. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, reaction initiators and accelerators exports reduced dramatically to $X in 2022. In general, exports showed a slight decrease. The pace of growth was the most pronounced in 2018 when exports increased by 39% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Saudi Arabia represented the major exporter of reaction initiators, reaction accelerators and catalytic preparations in MENA, with the volume of exports resulting at X tons, which was near 50% of total exports in 2022. Turkey (X tons) held the second position in the ranking, followed by Kuwait (X tons), the United Arab Emirates (X tons) and Iran (X tons). All these countries together held near 44% share of total exports. Bahrain (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to reaction initiators and accelerators exports from Saudi Arabia stood at -2.2%. At the same time, Bahrain (+25.6%), the United Arab Emirates (+25.2%), Turkey (+16.5%) and Kuwait (+1.7%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing exporter exported in MENA, with a CAGR of +25.6% from 2012-2022. By contrast, Iran (-10.8%) illustrated a downward trend over the same period. Turkey (+14 p.p.), the United Arab Emirates (+7.4 p.p.) and Bahrain (+3.1 p.p.) significantly strengthened its position in terms of the total exports, while Iran and Saudi Arabia saw its share reduced by -11.5% and -15.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) emerged as the largest reaction initiators and accelerators supplier in MENA, comprising 35% of total exports. The second position in the ranking was held by Turkey ($X), with a 15% share of total exports. It was followed by Kuwait, with a 14% share.

From 2012 to 2022, the average annual growth rate of value in Saudi Arabia amounted to -9.9%. In the other countries, the average annual rates were as follows: Turkey (+19.7% per year) and Kuwait (+1.8% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, falling by -18.9% against the previous year. Over the period under review, the export price continues to indicate a noticeable slump. The growth pace was the most rapid in 2019 when the export price increased by 55%. Over the period under review, the export prices attained the peak figure at $X per ton in 2016; however, from 2017 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 Kuwait ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+2.7%), while the other leaders experienced more modest paces of growth.

Imports of Reaction Initiators, Reaction Accelerators And Catalytic Preparations

Imports in MENA

In 2022, after two years of decline, there was significant growth in purchases abroad of reaction initiators, reaction accelerators and catalytic preparations, when their volume increased by 12% to X tons. The total import volume increased at an average annual rate of +2.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of 31% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, reaction initiators and accelerators imports amounted to $X in 2022. The total import value increased at an average annual rate of +2.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 33% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

Imports by Country

In 2022, Oman (X tons), the United Arab Emirates (X tons), Kuwait (X tons), Saudi Arabia (X tons) and Turkey (X tons) represented the largest importer of reaction initiators, reaction accelerators and catalytic preparations in MENA, creating 75% of total import. Qatar (X tons) ranks next in terms of the total imports with a 5.3% share, followed by Bahrain (5%). Algeria (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Turkey (with a CAGR of +10.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Turkey ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 59% of total imports.

In terms of the main importing countries, Turkey, with a CAGR of +12.2%, recorded the highest rates of growth with regard to 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, reducing by -10.2% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 22%. As a result, import price reached the peak level of $X per ton, and then dropped in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+6.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform