Middle East: Epoxide Resin Market 2024

Epoxide Resin Market Size in the Middle East

In 2021, the Middle Eastern epoxide resin market increased by 54% to $X, rising for the second year in a row after two years of decline. The total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +55.3% against 2019 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Epoxide Resin Production in the Middle East

In value terms, epoxide resin production dropped to $X in 2021 estimated in export price. In general, production saw a mild decline. The pace of growth appeared the most rapid in 2017 with an increase of 41% against the previous year. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Epoxide Resin Exports

Exports in the Middle East

In 2021, overseas shipments of epoxide resins increased by 6.2% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 44% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, epoxide resin exports skyrocketed to $X in 2021. Total exports indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Saudi Arabia (X tons) and Turkey (X tons) represented roughly 64% of total exports in 2021. It was distantly followed by the United Arab Emirates (X tons) and Israel (X tons), together generating a 30% share of total exports. The following exporters - Oman (X tons) and Jordan (X tons) - each resulted at a 3.8% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Israel (with a CAGR of +49.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest epoxide resin supplying countries in the Middle East were Turkey ($X), Saudi Arabia ($X) and Israel ($X), together comprising 84% of total exports.

Israel, with a CAGR of +53.0%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per ton, rising by 35% against the previous year. Export price indicated a pronounced expansion from 2012 to 2021: its price increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Jordan (+6.9%), while the other leaders experienced more modest paces of growth.

Epoxide Resin Imports

Imports in the Middle East

Epoxide resin imports surged to X tons in 2021, with an increase of 44% on the previous year's figure. Total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +7.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, epoxide resin imports surged to $X in 2021. In general, imports saw a prominent increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey was the major importer of epoxide resins in the Middle East, with the volume of imports reaching X tons, which was approx. 47% of total imports in 2021. It was distantly followed by the United Arab Emirates (X tons) and Saudi Arabia (X tons), together generating a 36% share of total imports. The following importers - Israel (X tons), Oman (X tons), Bahrain (X tons) and Qatar (X tons) - together made up 11% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Bahrain (with a CAGR of +14.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) constitutes the largest market for imported epoxide resins in the Middle East, comprising 50% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 22% share of total imports. It was followed by Saudi Arabia, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Turkey totaled +16.8%. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+6.3% per year) and Saudi Arabia (+8.3% per year).

Import Prices by Country

In 2021, the import price in the Middle East amounted to $X per ton, rising by 39% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.2%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Israel ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Qatar (+4.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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