Middle East: Azo- Or Azoxy-Compounds Market 2024

Azo- Or Azoxy-Compounds Market Size in the Middle East

The Middle Eastern azo- or azoxy-compounds market rose slightly to $X in 2022, increasing by 2.8% against the previous year. The market value increased at an average annual rate of +2.2% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in years to come.

Azo- Or Azoxy-Compounds Production in the Middle East

In value terms, azo- or azoxy-compounds production reduced slightly to $X in 2022 estimated in export price. Over the period under review, production showed a mild contraction. The most prominent rate of growth was recorded in 2013 when the production volume increased by 14% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Azo- Or Azoxy-Compounds Exports

Exports in the Middle East

In 2022, overseas shipments of diazo-, azo- or azoxy-compounds decreased by -16% to X tons for the first time since 2015, thus ending a six-year rising trend. Overall, exports, however, enjoyed prominent growth. The pace of growth appeared the most rapid in 2019 with an increase of 61% against the previous year. The volume of export peaked at X tons in 2021, and then declined significantly in the following year.

In value terms, azo- or azoxy-compounds exports declined to $X in 2022. Over the period under review, exports, however, enjoyed strong growth. The growth pace was the most rapid in 2019 with an increase of 79% against the previous year. The level of export peaked at $X in 2021, and then shrank in the following year.

Exports by Country

The biggest shipments were from the United Arab Emirates (X tons) and Turkey (X tons), together recording 99% of total export.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +21.8%).

In value terms, the largest azo- or azoxy-compounds supplying countries in the Middle East were Turkey ($X) and the United Arab Emirates ($X).

The United Arab Emirates, with a CAGR of +19.4%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, increasing by 12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.5%. The pace of growth was the most pronounced in 2020 an increase of 20%. Over the period under review, the export prices attained the maximum in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the United Arab Emirates amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+10.3%).

Azo- Or Azoxy-Compounds Imports

Imports in the Middle East

Azo- or azoxy-compounds imports shrank slightly to X tons in 2022, waning by -2.1% compared with the previous year. Overall, imports, however, posted strong growth. The most prominent rate of growth was recorded in 2017 with an increase of 28%. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, azo- or azoxy-compounds imports rose rapidly to $X in 2022. Over the period under review, imports, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 39% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Turkey was the key importing country with an import of around X tons, which finished at 56% of total imports. The United Arab Emirates (X tons) ranks second in terms of the total imports with a 22% share, followed by Israel (12%) and Iran (6.9%). Saudi Arabia (X tons) followed a long way behind the leaders.

Imports into Turkey increased at an average annual rate of +8.6% from 2012 to 2022. At the same time, the United Arab Emirates (+20.0%), Saudi Arabia (+19.1%) and Israel (+5.5%) 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 +20.0% from 2012-2022. By contrast, Iran (-3.8%) illustrated a downward trend over the same period. The United Arab Emirates (+15 p.p.), Turkey (+4.8 p.p.) and Saudi Arabia (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while Israel and Iran saw its share reduced by -2.7% and -14.4% from 2012 to 2022, respectively.

In value terms, Turkey ($X) constitutes the largest market for imported diazo-, azo- or azoxy-compounds in the Middle East, comprising 60% of total imports. The second position in the ranking was taken by Israel ($X), with a 17% share of total imports. It was followed by the United Arab Emirates, with a 14% share.

In Turkey, azo- or azoxy-compounds imports expanded at an average annual rate of +11.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Israel (+9.6% per year) and the United Arab Emirates (+18.6% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, rising by 14% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. The growth pace was the most rapid in 2021 when the import price increased by 31%. Over the period under review, import prices attained the maximum in 2022 and is expected to retain growth in years to come.

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 (+3.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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