Middle East: Butanone Market 2024

Butanone Market Size in the Middle East

The Middle Eastern butanone market soared to $X in 2022, rising by 40% against the previous year. Overall, consumption, however, continues to indicate a noticeable decline. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Butanone Production in the Middle East

In value terms, butanone production shrank to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 44% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Butanone Exports

Exports in the Middle East

In 2022, overseas shipments of butanone (methyl ethyl ketone) increased by 18% to X tons, rising for the third year in a row after two years of decline. Overall, exports continue to indicate a moderate increase. The pace of growth was the most pronounced in 2015 when exports increased by 322% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, butanone exports soared to $X in 2022. Over the period under review, exports recorded a measured expansion. The pace of growth was the most pronounced in 2017 with an increase of 259%. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Turkey represented the key exporting country with an export of about X tons, which accounted for 50% of total exports. It was distantly followed by the United Arab Emirates (X tons), Saudi Arabia (X tons), Iran (X tons) and Israel (X tons), together making up a 47% share of total exports. Jordan (X tons) took a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +27.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) remains the largest butanone supplier in the Middle East, comprising 54% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 22% share of total exports. It was followed by Iran, with a 12% share.

From 2012 to 2022, the average annual growth rate of value in Turkey stood at +29.0%. In the other countries, the average annual rates were as follows: the United Arab Emirates (-6.1% per year) and Iran (+21.4% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, with an increase of 13% against the previous year. Export price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butanone export price increased by +29.1% against 2020 indices. The growth pace was the most rapid in 2018 an increase of 36%. The level of export peaked in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Iran ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iran (+13.3%), while the other leaders experienced more modest paces of growth.

Butanone Imports

Imports in the Middle East

In 2022, butanone imports in the Middle East soared to X tons, increasing by 22% on 2021 figures. Over the period under review, imports, however, continue to indicate a noticeable slump. The pace of growth appeared the most rapid in 2020 when imports increased by 27% against the previous year. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, butanone imports soared to $X in 2022. In general, imports, however, showed a pronounced decline. The pace of growth appeared the most rapid in 2017 with an increase of 51%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Turkey (X tons) was the major importer of butanone (methyl ethyl ketone), creating 73% of total imports. It was distantly followed by the United Arab Emirates (X tons) and Israel (X tons), together creating a 22% share of total imports. Iran (X tons) took a relatively small share of total imports.

Turkey was also the fastest-growing in terms of the butanone (methyl ethyl ketone) imports, with a CAGR of +3.9% from 2012 to 2022. Israel (-2.7%), the United Arab Emirates (-8.9%) and Iran (-20.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey increased by +39 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported butanone (methyl ethyl ketone) in the Middle East, comprising 75% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 10% share of total imports. It was followed by Israel, with a 9.6% share.

In Turkey, butanone imports expanded at an average annual rate of +4.6% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (-8.8% per year) and Israel (+2.5% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, rising by 22% against the previous year. Import price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butanone import price increased by +52.6% against 2019 indices. The most prominent rate of growth was recorded in 2018 when the import price increased by 30% against the previous year. Over the period under review, import prices attained the peak figure in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: 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 (+5.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :