Middle East: Alcohols Market 2021

Alcohols Market Size in the Middle East

In 2020, the Middle Eastern alcohols market decreased by -X% to $X, falling for the second consecutive year after two years of growth. The market value increased at an average annual rate of +X% over the period from 2007 to 2020; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2011 when the market value increased by X% against the previous year. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2020, consumption stood at a somewhat lower figure.

Alcohols Production in the Middle East

In value terms, alcohols production rose to $X in 2020 estimated in export prices. In general, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2011 when the production volume increased by X% y-o-y. As a result, production reached the peak level of $X. from 2012 to 2020, production growth remained at a somewhat lower figure.

Production By Country in the Middle East

Saudi Arabia (X tons) remains the largest alcohols producing country in the Middle East, accounting for X% of total volume. Moreover, alcohols production in Saudi Arabia exceeded the figures recorded by the second-largest producer, Iran (X tons), threefold. The third position in this ranking was occupied by Oman (X tons), with a X% share.

From 2007 to 2020, the average annual growth rate of volume in Saudi Arabia totaled +X%. In the other countries, the average annual rates were as follows: Iran (+X% per year) and Oman (+X% per year).

Alcohols Exports

Exports in the Middle East

For the third year in a row, the Middle East recorded growth in shipments abroad of alcohols and their halogenated, sulphonated, nitrated or nitrosated derivatives, which increased by X% to X tons in 2020. Total exports indicated a noticeable increase from 2007 to 2020: its volume increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, exports increased by +X% against 2017 indices. The pace of growth was the most pronounced in 2015 with an increase of X% y-o-y. The volume of export peaked in 2020 and is likely to see gradual growth in the near future.

In value terms, alcohols exports declined modestly to $X in 2020. Overall, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2011 when exports increased by X% against the previous year. As a result, exports reached the peak of $X. from 2012 to 2020, the growth exports remained at a somewhat lower figure.

Exports by Country

In 2020, Saudi Arabia (X tons) was the largest exporter of alcohols and their halogenated, sulphonated, nitrated or nitrosated derivatives, creating X% of total exports. It was distantly followed by Oman (X tons), Iran (X tons), the United Arab Emirates (X tons) and Kuwait (X tons), together constituting a X% share of total exports. Bahrain (X tons) held a minor share of total exports.

From 2007 to 2020, average annual rates of growth with regard to alcohols exports from Saudi Arabia stood at +X%. At the same time, Oman (+X%), the United Arab Emirates (+X%), Kuwait (+X%), Iran (+X%) and Bahrain (+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. Oman (+X p.p.), the United Arab Emirates (+X p.p.) and Kuwait (+X p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia saw its share reduced by -X% from 2007 to 2020, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest alcohols supplier in the Middle East, comprising X% of total exports. The second position in the ranking was occupied by Iran ($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 Saudi Arabia amounted to -X%. In the other countries, the average annual rates were as follows: Iran (-X% per year) and Oman (+X% per year).

Export Prices by Country

In 2020, the alcohols export price in the Middle East amounted to $X per ton, with a decrease of -X% against the previous year. In general, the export price continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2011 when the export price increased by X% year-to-year. The level of export peaked at $X per ton in 2008; however, from 2009 to 2020, export prices failed to regain the momentum.

Prices varied noticeably by the country of origin; the country with the highest price was Kuwait ($X per ton), while Oman ($X per ton) was amongst the lowest.

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

Alcohols Imports

Imports in the Middle East

In 2020, overseas purchases of alcohols and their halogenated, sulphonated, nitrated or nitrosated derivatives decreased by -X% to X tons for the first time since 2016, thus ending a three-year rising trend. Total imports indicated a perceptible expansion from 2007 to 2020: its volume increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, imports decreased by -X% against 2015 indices. The most prominent rate of growth was recorded in 2015 when imports increased by X% year-to-year. Over the period under review, imports reached the maximum at X tons in 2019, and then shrank in the following year.

In value terms, alcohols imports shrank to $X in 2020. Total imports indicated perceptible growth from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, imports decreased by -X% against 2018 indices. The most prominent rate of growth was recorded in 2010 with an increase of X% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2020, imports stood at a somewhat lower figure.

Imports by Country

In 2020, Turkey (X tons) represented the main importer of alcohols and their halogenated, sulphonated, nitrated or nitrosated derivatives, committing X% of total imports. It was distantly followed by the United Arab Emirates (X tons), Oman (X tons) and Israel (X tons), together comprising a X% share of total imports. Saudi Arabia (X tons) held a relatively small share of total imports.

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

In value terms, Turkey ($X) constitutes the largest market for imported alcohols and their halogenated, sulphonated, nitrated or nitrosated derivatives in the Middle East, comprising X% of total imports. The second position in the ranking was occupied by Oman ($X), with a X% share of total imports. It was followed by the United Arab Emirates, with a X% share.

In Turkey, alcohols imports expanded at an average annual rate of +X% over the period from 2007-2020. The remaining importing countries recorded the following average annual rates of imports growth: Oman (+X% per year) and the United Arab Emirates (-X% per year).

Import Prices by Country

The alcohols import price in the Middle East stood at $X per ton in 2020, growing by X% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2011 when the import price increased by X% year-to-year. Over the period under review, import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2020, import prices remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Saudi Arabia ($X per ton), while Turkey ($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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