Middle East: Cyclic Hydrocarbons Market 2024

Cyclic Hydrocarbons Market Size in the Middle East

The Middle Eastern cyclic hydrocarbons market fell slightly to $X in 2022, remaining relatively unchanged against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X, and then reduced slightly in the following year.

Cyclic Hydrocarbons Production in the Middle East

In value terms, cyclic hydrocarbons production declined to $X in 2022 estimated in export price. Over the period under review, production saw a noticeable reduction. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Cyclic Hydrocarbons Exports

Exports in the Middle East

In 2022, approx. X tons of cyclic hydrocarbons were exported in the Middle East; therefore, remained relatively stable against the previous year's figure. The total export volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2015 when exports increased by X%. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, cyclic hydrocarbons exports dropped to $X in 2022. Overall, exports saw a noticeable slump. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Saudi Arabia represented the largest exporting country with an export of around X tons, which recorded X% of total exports. Kuwait (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Oman (X%), Israel (X%) and Iran (X%). The United Arab Emirates (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by the United Arab Emirates (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), Kuwait ($X) and Oman ($X) were the countries with the highest levels of exports in 2022, with a combined X% share of total exports. Israel, Iran and the United Arab Emirates lagged somewhat behind, together accounting for a further X%.

Among the main exporting countries, the United Arab Emirates, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, waning by X% against the previous year. In general, the export price recorded a abrupt setback. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, the export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: 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 (X%), while the other leaders experienced a decline in the export price figures.

Cyclic Hydrocarbons Imports

Imports in the Middle East

In 2022, purchases abroad of cyclic hydrocarbons increased by X% to X tons for the first time since 2017, thus ending a four-year declining trend. Total imports indicated a pronounced expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, cyclic hydrocarbons imports skyrocketed to $X in 2022. Total imports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.

Imports by Country

Turkey (X tons) and Saudi Arabia (X tons) represented roughly X% of total imports in 2022. It was distantly followed by the United Arab Emirates (X tons) and Kuwait (X tons), together generating a X% share 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 Kuwait (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) constitutes the largest market for imported cyclic hydrocarbons in the Middle East, comprising X% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a X% share of total imports. It was followed by the United Arab Emirates, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Turkey totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Saudi Arabia (X% per year) and the United Arab Emirates (X% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, leveling off at the previous year. Over the period under review, the import price, however, continues to indicate a perceptible decline. The growth pace was the most rapid in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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