MENA: Plant-Growth Regulators Market 2024

Plant-Growth Regulators Market Size in MENA

After two years of growth, the MENA's plant-growth regulators market decreased by -11% to $X in 2022. The market value increased at an average annual rate of +3.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2021, and then reduced in the following year.

Plant-Growth Regulators Production in MENA

In value terms, plant-growth regulators production contracted slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.0% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 when the production volume increased by 16%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Plant-Growth Regulators Exports

Exports in MENA

In 2022, overseas shipments of plant-growth regulators increased by 16% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, saw a mild slump. The most prominent rate of growth was recorded in 2016 when exports increased by 51%. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, plant-growth regulators exports rose rapidly to $X in 2022. The total export value increased at an average annual rate of +1.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when exports increased by 23%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Israel prevails in exports structure, finishing at X tons, which was near 88% of total exports in 2022. It was distantly followed by Turkey (X tons), comprising a 9% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to plant-growth regulators exports from Israel stood at -1.9%. At the same time, Turkey (+10.4%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in MENA, with a CAGR of +10.4% from 2012-2022. While the share of Turkey (+6 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Israel (-5.1 p.p.) displayed negative dynamics.

In value terms, Israel ($X) remains the largest plant-growth regulators supplier in MENA, comprising 91% of total exports. The second position in the ranking was held by Turkey ($X), with a 6.3% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Israel amounted to +1.3%.

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, approximately reflecting the previous year. Export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plant-growth regulators export price decreased by -11.9% against 2018 indices. The pace of growth was the most pronounced in 2017 when the export price increased by 48%. Over the period under review, the export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Israel ($X per ton), while Turkey stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+3.2%).

Plant-Growth Regulators Imports

Imports in MENA

In 2022, imports of plant-growth regulators in MENA expanded sharply to X tons, increasing by 10% on the previous year's figure. The total import volume increased at an average annual rate of +3.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when imports increased by 20% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, plant-growth regulators imports rose notably to $X in 2022. The total import value increased at an average annual rate of +4.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when imports increased by 16% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Turkey (X tons), distantly followed by Iran (X tons), Iraq (X tons), Algeria (X tons), Tunisia (X tons), Israel (X tons), Egypt (X tons), Saudi Arabia (X tons) and Morocco (X tons) were the key importers of plant-growth regulators, together generating 88% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Iraq (with a CAGR of +35.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) constitutes the largest market for imported plant-growth regulators in MENA, comprising 33% of total imports. The second position in the ranking was held by Algeria ($X), with a 9.9% share of total imports. It was followed by Iraq, with an 8.6% share.

From 2012 to 2022, the average annual growth rate of value in Turkey stood at +3.3%. In the other countries, the average annual rates were as follows: Algeria (+5.2% per year) and Iraq (+34.0% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, stabilizing at the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by 9.4% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Morocco ($X per ton), while Iran ($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 (+2.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform