Middle East: Buta-1,3-Diene And Isoprene Market 2024

Buta-1,3-Diene And Isoprene Market Size in the Middle East

The Middle Eastern buta-1,3-diene and isoprene market fell slightly to $X in 2022, which is down by -2.9% against the previous year. The market value increased at an average annual rate of +2.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Buta-1,3-Diene And Isoprene Production in the Middle East

In value terms, buta-1,3-diene and isoprene production fell modestly to $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the production volume increased by 32% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Buta-1,3-Diene And Isoprene Exports

Exports in the Middle East

In 2022, the amount of buta-1,3-diene and isoprene exported in the Middle East totaled X tons, remaining stable against 2021 figures. Over the period under review, exports, however, showed a perceptible decline. The pace of growth appeared the most rapid in 2019 when exports increased by 143%. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, buta-1,3-diene and isoprene exports declined to $X in 2022. Overall, exports, however, recorded a deep downturn. The growth pace was the most rapid in 2019 when exports increased by 117% against the previous year. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Iran was the largest exporter of buta-1,3-diene and isoprene in the Middle East, with the volume of exports amounting to X tons, which was approx. 82% of total exports in 2022. It was distantly followed by Oman (X tons), making up a 16% share of total exports. The United Arab Emirates (X tons) followed a long way behind the leaders.

Exports from Iran decreased at an average annual rate of -3.4% from 2012 to 2022. At the same time, the United Arab Emirates (+44.7%) and Oman (+14.8%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +44.7% from 2012-2022. From 2012 to 2022, the share of Oman, Iran and the United Arab Emirates increased by +13, +8.4 and +2.5 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Iran ($X) remains the largest buta-1,3-diene and isoprene supplier in the Middle East, comprising 82% of total exports. The second position in the ranking was held by Oman ($X), with a 15% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Iran amounted to -9.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Oman (+6.0% per year) and the United Arab Emirates (+36.4% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, declining by -15.7% against the previous year. In general, the export price showed a abrupt descent. The growth pace was the most rapid in 2021 an increase of 49%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-5.7%), while the other leaders experienced a decline in the export price figures.

Buta-1,3-Diene And Isoprene Imports

Imports in the Middle East

In 2022, after two years of growth, there was significant decline in overseas purchases of buta-1,3-diene and isoprene, when their volume decreased by -37.7% to X tons. In general, imports, however, saw a significant expansion. The pace of growth appeared the most rapid in 2017 when imports increased by 1,334% against the previous year. The volume of import peaked at X tons in 2021, and then dropped sharply in the following year.

In value terms, buta-1,3-diene and isoprene imports plummeted to $X in 2022. Over the period under review, imports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of 1,500% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021, and then fell sharply in the following year.

Imports by Country

Saudi Arabia dominates imports structure, finishing at X tons, which was near 96% of total imports in 2022. The United Arab Emirates (X tons) took a relatively small share of total imports.

Saudi Arabia was also the fastest-growing in terms of the buta-1,3-diene and isoprene imports, with a CAGR of +16.7% from 2012 to 2022. At the same time, the United Arab Emirates (+7.7%) displayed positive paces of growth. While the share of Saudi Arabia (+96 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the United Arab Emirates (-70.8 p.p.) displayed negative dynamics.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported buta-1,3-diene and isoprene in the Middle East, comprising 82% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 17% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Saudi Arabia totaled +8.7%.

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, surging by 13% against the previous year. Overall, the import price recorded a buoyant increase. The most prominent rate of growth was recorded in 2014 an increase of 82% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+31.8%).

Source: IndexBox Platform

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