Middle East: Aromatic Polyamines Market 2024

Aromatic Polyamines Market Size in the Middle East

In 2021, the Middle Eastern aromatic polyamines market was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +4.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Aromatic Polyamines Production in the Middle East

In value terms, aromatic polyamines production shrank to $X in 2021 estimated in export price. The total production indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +65.5% against 2012 indices. The pace of growth appeared the most rapid in 2015 when the production volume increased by 19%. Over the period under review, production hit record highs at $X in 2020, and then fell in the following year.

Aromatic Polyamines Exports

Exports in the Middle East

After five years of growth, shipments abroad of aromatic polyamines and their derivatives, salts thereof decreased by -70.8% to X tons in 2021. Overall, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2019 with an increase of 199%. Over the period under review, the exports reached the maximum at X tons in 2020, and then plummeted in the following year.

In value terms, aromatic polyamines exports dropped dramatically to $X in 2021. Over the period under review, exports, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2019 when exports increased by 248% against the previous year. The level of export peaked at $X in 2020, and then fell significantly in the following year.

Exports by Country

Saudi Arabia (X tons) and the United Arab Emirates (X tons) prevails in exports structure, together generating 89% of total exports. It was distantly followed by Turkey (X tons), making up an 8.2% share of total exports. Iran (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Saudi Arabia (with a CAGR of +38.5%), while the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X) remains the largest aromatic polyamines supplier in the Middle East, comprising 53% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 24% share of total exports. It was followed by Turkey, with a 21% share.

In Saudi Arabia, aromatic polyamines exports expanded at an average annual rate of +29.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the United Arab Emirates (+16.9% per year) and Turkey (+27.7% per year).

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per ton, falling by -19.2% against the previous year. In general, the export price showed a noticeable shrinkage. The pace of growth was the most pronounced in 2013 an increase of 89% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Turkey ($X per ton), while the United Arab Emirates ($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 (+8.2%), while the other leaders experienced a decline in the export price figures.

Aromatic Polyamines Imports

Imports in the Middle East

In 2021, after two years of decline, there was significant growth in overseas purchases of aromatic polyamines and their derivatives, salts thereof, when their volume increased by 41% to X tons. The total import volume increased at an average annual rate of +3.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, aromatic polyamines imports surged to $X in 2021. Total imports indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey represented the major importer of aromatic polyamines and their derivatives, salts thereof in the Middle East, with the volume of imports recording X tons, which was approx. 69% of total imports in 2021. It was distantly followed by the United Arab Emirates (X tons), creating a 19% share of total imports. Oman (X tons), Israel (X tons), Iraq (X tons) and Iran (X tons) followed a long way behind the leaders.

Imports into Turkey increased at an average annual rate of +7.3% from 2012 to 2021. At the same time, Iraq (+120.4%), Oman (+20.3%), the United Arab Emirates (+11.4%) and Israel (+3.6%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +120.4% from 2012-2021. By contrast, Iran (-19.9%) illustrated a downward trend over the same period. Turkey (+21 p.p.), the United Arab Emirates (+9.8 p.p.), Oman (+2.7 p.p.) and Iraq (+2.3 p.p.) significantly strengthened its position in terms of the total imports, while Iran saw its share reduced by -15.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported aromatic polyamines and their derivatives, salts thereof in the Middle East, comprising 67% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 21% share of total imports. It was followed by Israel, with a 3.9% share.

In Turkey, aromatic polyamines imports increased at an average annual rate of +6.9% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+4.5% per year) and Israel (+4.2% per year).

Import Prices by Country

In 2021, the import price in the Middle East amounted to $X per ton, jumping by 18% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, 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 (+3.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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