Middle East: Amine-Function Compounds Market 2024

Amine-Function Compounds Market Size in the Middle East

The Middle Eastern amine-function compounds market was finally on the rise to reach $X in 2021, after two years of decline. The total consumption indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -10.3% against 2018 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Amine-Function Compounds Production in the Middle East

In value terms, amine-function compounds production expanded remarkably to $X in 2021 estimated in export price. Over the period under review, production posted a resilient expansion. The most prominent rate of growth was recorded in 2016 when the production volume increased by 30%. The level of production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Amine-Function Compounds Exports

Exports in the Middle East

In 2021, overseas shipments of amine-function compounds increased by 18% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports showed a strong increase. The pace of growth was the most pronounced in 2017 when exports increased by 77%. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, amine-function compounds exports surged to $X in 2021. In general, exports showed a strong expansion. The pace of growth was the most pronounced in 2018 when exports increased by 63% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

Saudi Arabia dominates exports structure, amounting to X tons, which was near 86% of total exports in 2021. Turkey (X tons) took the second position in the ranking, followed by the United Arab Emirates (X tons). All these countries together took near 14% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to amine-function compounds exports from Saudi Arabia stood at +9.1%. At the same time, the United Arab Emirates (+23.4%) and Turkey (+1.4%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +23.4% from 2012-2021. From 2012 to 2021, the share of the United Arab Emirates and Saudi Arabia increased by +4.5 and +3.1 percentage points, respectively.

In value terms, Saudi Arabia ($X) remains the largest amine-function compounds supplier in the Middle East, comprising 91% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 4.6% share of total exports.

In Saudi Arabia, amine-function compounds exports expanded at an average annual rate of +12.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the United Arab Emirates (+17.7% per year) and Turkey (+5.8% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2021, growing by 33% against the previous year. Export price indicated tangible growth from 2012 to 2021: its price increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, amine-function compounds export price increased by +77.4% against 2017 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 ($X per ton), while Turkey ($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 (+4.3%), while the other leaders experienced mixed trends in the export price figures.

Amine-Function Compounds Imports

Imports in the Middle East

For the third consecutive year, the Middle East recorded growth in purchases abroad of amine-function compounds, which increased by 7.9% to X tons in 2021. The total import volume increased at an average annual rate of +1.8% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when imports increased by 8.8% against the previous year. The volume of import peaked in 2021 and is likely to continue growth in the immediate term.

In value terms, amine-function compounds imports skyrocketed to $X in 2021. Over the period under review, imports showed a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The countries with the highest levels of amine-function compounds imports in 2021 were Turkey (X tons), Israel (X tons) and the United Arab Emirates (X tons), together finishing at 90% of total import. The following importers - Iran (X tons), Iraq (X tons) and Saudi Arabia (X tons) - together made up 7% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Iraq (with a CAGR of +44.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest amine-function compounds importing markets in the Middle East were Turkey ($X), Israel ($X) and the United Arab Emirates ($X), together comprising 86% of total imports. These countries were followed by Iran, Saudi Arabia and Iraq, which together accounted for a further 9.8%.

Iraq, with a CAGR of +26.2%, saw the highest rates of growth with regard to the value of imports, among the main importing countries 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 the Middle East stood at $X per ton in 2021, rising by 14% against the previous year. Over the period under review, the import price, however, saw a slight curtailment. Over the period under review, import prices attained 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 Iran ($X per ton), while Iraq ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iran (+5.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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