MENA: Monoethanolamine Market 2024

Monoethanolamine Market Size in MENA

The MENA's monoethanolamine market skyrocketed to $X in 2021, picking up by 49% against the previous year. The total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +73.7% against 2017 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Monoethanolamine Production in MENA

In value terms, monoethanolamine production expanded remarkably to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a resilient expansion. The pace of growth appeared the most rapid in 2017 with an increase of 81% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Monoethanolamine Exports

Exports in MENA

In 2021, overseas shipments of monoethanolamine and its salts decreased by -6.9% to X tons, falling for the second consecutive year after three years of growth. Overall, exports, however, showed a significant increase. The pace of growth appeared the most rapid in 2017 with an increase of 234%. The volume of export peaked at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, monoethanolamine exports surged to $X in 2021. In general, exports, however, saw a significant increase. The growth pace was the most rapid in 2017 when exports increased by 203%. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Saudi Arabia prevails in exports structure, finishing at X tons, which was approx. 92% of total exports in 2021. The United Arab Emirates (X tons) and Iran (X tons) held a minor share of total exports.

Saudi Arabia was also the fastest-growing in terms of the monoethanolamine and its salts exports, with a CAGR of +36.8% from 2012 to 2021. At the same time, the United Arab Emirates (+9.9%) displayed positive paces of growth. By contrast, Iran (-7.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Saudi Arabia increased by +51 percentage points.

In value terms, Saudi Arabia ($X) remains the largest monoethanolamine supplier in MENA, comprising 91% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 4.1% share of total exports.

In Saudi Arabia, monoethanolamine exports expanded at an average annual rate of +35.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the United Arab Emirates (+5.4% per year) and Iran (-7.1% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2021, growing by 30% against the previous year. Over the period under review, the export price, however, recorded a mild setback. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, 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 Iran (+0.5%), while the other leaders experienced a decline in the export price figures.

Monoethanolamine Imports

Imports in MENA

Monoethanolamine imports amounted to X tons in 2021, increasing by 15% on the year before. Over the period under review, imports recorded a perceptible expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 56% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, monoethanolamine imports skyrocketed to $X in 2021. Total imports indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -19.1% against 2019 indices. The most prominent rate of growth was recorded in 2018 with an increase of 66%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

The United Arab Emirates was the major importing country with an import of around X tons, which reached 50% of total imports. It was distantly followed by Turkey (X tons) and Egypt (X tons), together achieving a 31% share of total imports. Oman (X tons), Israel (X tons), Qatar (X tons) and Algeria (X tons) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the monoethanolamine and its salts imports, with a CAGR of +26.3% from 2012 to 2021. At the same time, Oman (+16.5%), Turkey (+10.7%), Egypt (+4.0%) and Israel (+3.6%) displayed positive paces of growth. By contrast, Qatar (-4.1%) and Algeria (-5.5%) illustrated a downward trend over the same period. The United Arab Emirates (+42 p.p.), Turkey (+9 p.p.) and Oman (+2.5 p.p.) significantly strengthened its position in terms of the total imports, while Algeria and Qatar saw its share reduced by -2.9% and -3.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported monoethanolamine and its salts in MENA, comprising 45% of total imports. The second position in the ranking was taken by Turkey ($X), with a 21% share of total imports. It was followed by Egypt, with a 12% share.

From 2012 to 2021, the average annual growth rate of value in the United Arab Emirates stood at +26.2%. The remaining importing countries recorded the following average annual rates of imports growth: Turkey (+8.4% per year) and Egypt (+3.9% per year).

Import Prices by Country

In 2021, the import price in MENA amounted to $X per ton, surging by 32% against the previous year. In general, the import price, however, recorded a pronounced reduction. Over the period under review, import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Egypt ($X per ton) and Israel ($X per ton), while the United Arab Emirates ($X per ton) and Oman ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Qatar (+0.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform