Middle East: Acyclic Hydrocarbons Market 2022

Acyclic Hydrocarbons Market Size in the Middle East

After three years of growth, the Middle Eastern acyclic hydrocarbons market decreased by -X% to $X in 2020. The market value increased at an average annual rate of +X% over the period from 2007 to 2020; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2012 with an increase of X% against the previous year. The level of consumption peaked at $X in 2019, and then dropped in the following year.

Acyclic Hydrocarbons Production in the Middle East

In value terms, acyclic hydrocarbons production reduced to $X in 2020 estimated in export prices. In general, production, however, recorded mild growth. The most prominent rate of growth was recorded in 2012 with an increase of X% y-o-y. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2020, production stood at a somewhat lower figure.

Production By Country in the Middle East

The countries with the highest volumes of acyclic hydrocarbons production in 2020 were Iran (X tons), Turkey (X tons) and Iraq (X tons), together accounting for X% of total production. These countries were followed by the United Arab Emirates, Israel, Saudi Arabia and Lebanon, which together accounted for a further X 2007 to 2020, the most notable rate of growth in terms of acyclic hydrocarbons production, amongst the key producing countries, was attained by the United Arab Emirates, while acyclic hydrocarbons production for the other leaders experienced more modest paces of growth.

Acyclic Hydrocarbons Exports

Exports in the Middle East

In 2020, shipments abroad of acyclic hydrocarbons decreased by -X% to X tons, falling for the second consecutive year after four years of growth. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2012 when exports increased by X% year-to-year. Over the period under review, exports hit record highs at X tons in 2018; however, from 2019 to 2020, exports failed to regain the momentum.

In value terms, acyclic hydrocarbons exports shrank dramatically to $X in 2020. Overall, exports, however, showed a noticeable slump. The pace of growth appeared the most rapid in 2017 with an increase of X% y-o-y. The level of export peaked at $X in 2012; however, from 2013 to 2020, exports remained at a lower figure.

Exports by Country

In 2020, Iran (X tons) was the key exporter of acyclic hydrocarbons, creating X% of total exports. It was distantly followed by Saudi Arabia (X tons), Oman (X tons), Turkey (X tons) and Israel (X tons), together comprising a X% share of total exports.

From 2007 to 2020, average annual rates of growth with regard to acyclic hydrocarbons exports from Iran stood at +X%. At the same time, Oman (+X%) and Turkey (+X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +X% from 2007-2020. By contrast, Israel (-X%) and Saudi Arabia (-X%) illustrated a downward trend over the same period. From 2007 to 2020, the share of Iran and Oman increased by +X% and +X% percentage points, while Israel (-X p.p.) and Saudi Arabia (-X p.p.) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Iran ($X) remains the largest acyclic hydrocarbons supplier in the Middle East, comprising X% of total exports. The second position in the ranking was occupied by Saudi Arabia ($X), with a X% share of total exports. It was followed by Oman, with a X% share.

From 2007 to 2020, the average annual growth rate of value in Iran stood at +X%. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (-X% per year) and Oman (+X% per year).

Export Prices by Country

The acyclic hydrocarbons export price in the Middle East stood at $X per ton in 2020, falling by -X% against the previous year. In general, the export price saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2011 when the export price increased by X% y-o-y. Over the period under review, export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2020, export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2020, major exporting countries recorded the following prices: in Iran ($X per ton) and Saudi Arabia ($X per ton), while Oman ($X per ton) and Turkey ($X per ton) were amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Iran, while the other leaders experienced a decline in the export price figures.

Acyclic Hydrocarbons Imports

Imports in the Middle East

In 2020, supplies from abroad of acyclic hydrocarbons decreased by -X% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, imports recorded a perceptible decrease. The pace of growth appeared the most rapid in 2009 when imports increased by X% y-o-y. The volume of import peaked at X tons in 2010; however, from 2011 to 2020, imports remained at a lower figure.

In value terms, acyclic hydrocarbons imports shrank significantly to $X in 2020. In general, imports continue to indicate a noticeable decline. The pace of growth appeared the most rapid in 2008 with an increase of X% against the previous year. The level of import peaked at $X in 2010; however, from 2011 to 2020, imports stood at a somewhat lower figure.

Imports by Country

Kuwait represented the key importer of acyclic hydrocarbons in the Middle East, with the volume of imports accounting for X tons, which was approx. X% of total imports in 2020. Qatar (X tons) ranks second in terms of the total imports with a X% share, followed by the United Arab Emirates (X%), Oman (X%) and Syrian Arab Republic (X%). Turkey (X tons) followed a long way behind the leaders.

Kuwait experienced a relatively flat trend pattern with regard to volume of imports of acyclic hydrocarbons. At the same time, Syrian Arab Republic (+X%), Qatar (+X%) and Oman (+X%) displayed positive paces of growth. Moreover, Syrian Arab Republic emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +X% from 2007-2020. By contrast, the United Arab Emirates (-X%) and Turkey (-X%) illustrated a downward trend over the same period. From 2007 to 2020, the share of Qatar, Kuwait, Syrian Arab Republic and Oman increased by +X%, +X%, +X% and +X% percentage points, while Turkey (-X p.p.) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Kuwait ($X), the United Arab Emirates ($X) and Qatar ($X) were the countries with the highest levels of imports in 2020, together comprising X% of total imports. Syrian Arab Republic, Oman and Turkey lagged somewhat behind, together comprising a further X the main importing countries, Syrian Arab Republic 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 2020, the acyclic hydrocarbons import price in the Middle East amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the import price, however, saw a slight curtailment. The pace of growth was the most pronounced in 2011 an increase of X% y-o-y. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2020, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2020, the country with the highest price was the United Arab Emirates ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Oman, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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