MENA: Unsaturated Acyclic Hydrocarbons Market 2024

Unsaturated Acyclic Hydrocarbons Market Size in MENA

The MENA's unsaturated acyclic hydrocarbons market was finally on the rise to reach $X in 2021, after four years of decline. In general, consumption, however, recorded a pronounced downturn. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Unsaturated Acyclic Hydrocarbons Production in MENA

In value terms, unsaturated acyclic hydrocarbons production totaled $X in 2021 estimated in export price. Overall, production, however, continues to indicate a perceptible shrinkage. The pace of growth was the most pronounced in 2016 when the production volume increased by 14% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Unsaturated Acyclic Hydrocarbons Exports

Exports in MENA

In 2021, shipments abroad of unsaturated acyclic hydrocarbons increased by 25% to X tons, rising for the sixth year in a row after two years of decline. In general, exports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2016 when exports increased by 70% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to see gradual growth in years to come.

In value terms, unsaturated acyclic hydrocarbons exports skyrocketed to $X in 2021. Over the period under review, exports enjoyed a strong expansion. The growth pace was the most rapid in 2017 with an increase of 67%. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

In 2021, Iran (X tons) represented the largest exporter of unsaturated acyclic hydrocarbons, achieving 83% of total exports. It was distantly followed by Saudi Arabia (X tons), creating a 15% share of total exports.

Iran was also the fastest-growing in terms of the unsaturated acyclic hydrocarbons exports, with a CAGR of +52.2% from 2012 to 2021. Saudi Arabia (-2.4%) illustrated a downward trend over the same period. Iran (+74 p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia saw its share reduced by -74.3% from 2012 to 2021, respectively.

In value terms, Iran ($X) remains the largest unsaturated acyclic hydrocarbons supplier in MENA, comprising 71% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 27% share of total exports.

In Iran, unsaturated acyclic hydrocarbons exports expanded at an average annual rate of +49.6% over the period from 2012-2021.

Export Prices by Country

The export price in MENA stood at $X per ton in 2021, growing by 13% against the previous year. In general, the export price, however, continues to indicate a mild contraction. The pace of growth was the most pronounced in 2013 an increase of 52%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while Iran stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+5.3%).

Unsaturated Acyclic Hydrocarbons Imports

Imports in MENA

In 2021, the amount of unsaturated acyclic hydrocarbons imported in MENA shrank slightly to X tons, falling by -2% on the year before. Overall, imports, however, saw a resilient expansion. The pace of growth was the most pronounced in 2016 with an increase of 152%. The volume of import peaked at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, unsaturated acyclic hydrocarbons imports skyrocketed to $X in 2021. Over the period under review, imports, however, showed strong growth. The pace of growth was the most pronounced in 2017 when imports increased by 143%. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Saudi Arabia was the main importer of unsaturated acyclic hydrocarbons in MENA, with the volume of imports reaching X tons, which was near 83% of total imports in 2021. It was distantly followed by the United Arab Emirates (X tons), constituting a 10% share of total imports. Egypt (X tons) and Kuwait (X tons) followed a long way behind the leaders.

Imports into Saudi Arabia increased at an average annual rate of +17.7% from 2012 to 2021. At the same time, Egypt (+47.2%) and the United Arab Emirates (+15.8%) displayed positive paces of growth. Moreover, Egypt emerged as the fastest-growing importer imported in MENA, with a CAGR of +47.2% from 2012-2021. By contrast, Kuwait (-2.9%) illustrated a downward trend over the same period. Saudi Arabia (+8.8 p.p.) and Egypt (+2.8 p.p.) significantly strengthened its position in terms of the total imports, while Kuwait saw its share reduced by -6.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported unsaturated acyclic hydrocarbons in MENA, comprising 77% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 15% share of total imports. It was followed by Egypt, with a 3.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Saudi Arabia totaled +14.3%. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+17.0% per year) and Egypt (+40.2% per year).

Import Prices by Country

In 2021, the import price in MENA amounted to $X per ton, picking up by 21% against the previous year. Overall, the import price, however, recorded a noticeable setback. The pace of growth appeared the most rapid in 2019 an increase of 24%. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+2.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform