MENA: Carbon Dioxide Market 2024

Carbon Dioxide Market Size in MENA

In 2022, the MENA's carbon dioxide market decreased by -33.4% to $X for the first time since 2015, thus ending a six-year rising trend. Overall, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then fell sharply in the following year.

Carbon Dioxide Production in MENA

In value terms, carbon dioxide production declined modestly to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the production volume increased by 16% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Carbon Dioxide Exports

Exports in MENA

In 2022, the amount of carbon dioxide exported in MENA dropped modestly to X tons, remaining relatively unchanged against the previous year. Total exports indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +63.4% against 2016 indices. The pace of growth appeared the most rapid in 2018 with an increase of 20%. The volume of export peaked at X tons in 2021, and then shrank in the following year.

In value terms, carbon dioxide exports dropped remarkably to $X in 2022. In general, exports continue to indicate a mild curtailment. The growth pace was the most rapid in 2019 when exports increased by 28%. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Kuwait (X tons), Turkey (X tons) and Bahrain (X tons) represented roughly 71% of total exports in 2022. Oman (X tons) took the next position in the ranking, followed by Saudi Arabia (X tons) and Egypt (X tons). All these countries together held near 21% share of total exports. Israel (X tons) held a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Bahrain (with a CAGR of +50.6%), while the other leaders experienced more modest paces of growth.

In value terms, Israel ($X) remains the largest carbon dioxide supplier in MENA, comprising 65% of total exports. The second position in the ranking was held by Turkey ($X), with an 8.3% share of total exports. It was followed by Kuwait, with a 7.2% share.

In Israel, carbon dioxide exports decreased by an average annual rate of -1.2% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (+0.6% per year) and Kuwait (+31.4% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, shrinking by -24.8% against the previous year. Overall, the export price saw a abrupt setback. The growth pace was the most rapid in 2016 an increase of 20%. Over the period under review, the export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Israel ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+2.5%), while the other leaders experienced a decline in the export price figures.

Carbon Dioxide Imports

Imports in MENA

After five years of growth, overseas purchases of carbon dioxide decreased by -58.9% to X tons in 2022. Overall, imports showed a mild reduction. The growth pace was the most rapid in 2021 when imports increased by 48%. As a result, imports attained the peak of X tons, and then fell remarkably in the following year.

In value terms, carbon dioxide imports contracted remarkably to $X in 2022. In general, imports showed a noticeable slump. The most prominent rate of growth was recorded in 2019 when imports increased by 22%. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Iraq (X tons) and Morocco (X tons) were the largest importers of carbon dioxide in 2022, accounting for approx. 26% and 20% of total imports, respectively. Lebanon (X tons) held the next position in the ranking, followed by Jordan (X tons), Palestine (X tons) and Syrian Arab Republic (X tons). All these countries together held near 44% share of total imports. Qatar (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Qatar (with a CAGR of +110.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Morocco ($X) constitutes the largest market for imported carbon dioxide in MENA, comprising 21% of total imports. The second position in the ranking was held by Jordan ($X), with a 6.9% share of total imports. It was followed by Iraq, with a 6.6% share.

In Morocco, carbon dioxide imports increased at an average annual rate of +18.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Jordan (-4.2% per year) and Iraq (-1.2% per year).

Import Prices by Country

In 2022, the import price in MENA amounted to $X per ton, surging by 100% against the previous year. In general, the import price, however, saw a mild setback. Over the period under review, import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Morocco ($X per ton), while Iraq ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Morocco (+4.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform