Middle East: Market for Benzoyl Peroxide And Benzoyl Chloride 2024

Market Size for Benzoyl Peroxide And Benzoyl Chloride in the Middle East

The Middle Eastern benzoyl peroxide and chloride market surged to $X in 2022, growing by 75% against the previous year. Over the period under review, consumption continues to indicate a resilient expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Benzoyl Peroxide And Benzoyl Chloride in the Middle East

In value terms, benzoyl peroxide and chloride production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.9% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 when the production volume increased by 41% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Exports of Benzoyl Peroxide And Benzoyl Chloride

Exports in the Middle East

In 2022, shipments abroad of benzoyl peroxide and benzoyl chloride increased by 72% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports saw resilient growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, benzoyl peroxide and chloride exports skyrocketed to $X in 2022. In general, exports showed a significant increase. The pace of growth appeared the most rapid in 2021 with an increase of 106%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

The shipments of the one major exporters of benzoyl peroxide and benzoyl chloride, namely Turkey, represented more than two-thirds of total export.

Turkey was also the fastest-growing in terms of the benzoyl peroxide and benzoyl chloride exports, with a CAGR of +19.5% from 2012 to 2022. While the share of Turkey (+20 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) also remains the largest benzoyl peroxide and chloride supplier in the Middle East.

In Turkey, benzoyl peroxide and chloride exports expanded at an average annual rate of +23.7% over the period from 2012-2022.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, growing by 8.1% against the previous year. Export price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, benzoyl peroxide and chloride export price increased by +66.6% against 2017 indices. The pace of growth appeared the most rapid in 2021 an increase of 36% against the previous year. Over the period under review, the export prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Turkey.

From 2012 to 2022, the rate of growth in terms of prices for Turkey amounted to +3.5% per year.

Imports of Benzoyl Peroxide And Benzoyl Chloride

Imports in the Middle East

In 2022, approx. X tons of benzoyl peroxide and benzoyl chloride were imported in the Middle East; rising by 70% compared with the previous year. Over the period under review, imports posted a resilient increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, benzoyl peroxide and chloride imports skyrocketed to $X in 2022. In general, imports recorded a resilient expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey dominates imports structure, reaching X tons, which was near 80% of total imports in 2022. The United Arab Emirates (X tons) took the second position in the ranking, followed by Iran (X tons). All these countries together took near 16% share of total imports. Israel (X tons) took a relatively small share of total imports.

Imports into Turkey increased at an average annual rate of +22.8% from 2012 to 2022. At the same time, the United Arab Emirates (+27.2%), Iran (+4.7%) and Israel (+2.6%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +27.2% from 2012-2022. While the share of Turkey (+30 p.p.) and the United Arab Emirates (+4.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Israel (-6.6 p.p.) and Iran (-16 p.p.) displayed negative dynamics.

In value terms, Turkey ($X) constitutes the largest market for imported benzoyl peroxide and benzoyl chloride in the Middle East, comprising 77% of total imports. The second position in the ranking was held by Iran ($X), with a 9.2% share of total imports. It was followed by the United Arab Emirates, with a 6.9% share.

In Turkey, benzoyl peroxide and chloride imports increased at an average annual rate of +23.3% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Iran (+5.8% per year) and the United Arab Emirates (+21.9% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, picking up by 11% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 27%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 Israel ($X per ton), while the United Arab Emirates ($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 (+2.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :