Middle East: Ethanal Market 2024

Ethanal Market Size in the Middle East

The Middle Eastern ethanal market expanded sharply to $X in 2022, rising by 12% against the previous year. The total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +16.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +33.4% against 2016 indices. Over the period under review, the market reached the maximum level in 2022 and is likely to continue growth in the near future.

Ethanal Production in the Middle East

In value terms, ethanal production amounted to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the production volume increased by 13%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Ethanal Exports

Exports in the Middle East

In 2022, after two years of growth, there was decline in shipments abroad of ethanal (acetaldehyde), when their volume decreased by -4.1% to X tons. Over the period under review, exports showed a dramatic descent. The growth pace was the most rapid in 2021 with an increase of 161% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, ethanal exports stood at $X in 2022. Overall, exports saw a sharp contraction. The most prominent rate of growth was recorded in 2021 with an increase of 19%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, the United Arab Emirates (X tons) represented the largest exporter of ethanal (acetaldehyde), creating 57% of total exports. Israel (X tons) held the second position in the ranking, distantly followed by Turkey (X tons). All these countries together held near 43% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Israel (with a CAGR of +32.6%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Turkey ($X) remains the largest ethanal supplier in the Middle East, comprising 58% of total exports. The second position in the ranking was taken by Israel ($X), with a 21% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Turkey amounted to +8.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Israel (+18.4% per year) and the United Arab Emirates (-15.1% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, growing by 11% against the previous year. Over the period under review, the export price saw buoyant growth. The growth pace was the most rapid in 2019 an increase of 1,533% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+0.5%), while the other leaders experienced a decline in the export price figures.

Ethanal Imports

Imports in the Middle East

For the third consecutive year, the Middle East recorded decline in supplies from abroad of ethanal (acetaldehyde), which decreased by -8.5% to X tons in 2022. Overall, imports showed a abrupt slump. The pace of growth appeared the most rapid in 2014 with an increase of 67% against the previous year. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, ethanal imports reduced slightly to $X in 2022. Over the period under review, imports showed a deep setback. The most prominent rate of growth was recorded in 2014 with an increase of 56% against the previous year. The level of import peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

Kuwait was the largest importing country with an import of about X tons, which reached 72% of total imports. Iraq (X tons) ranks second in terms of the total imports with a 16% share, followed by Iran (7.6%). The United Arab Emirates (X tons) followed a long way behind the leaders.

Kuwait was also the fastest-growing in terms of the ethanal (acetaldehyde) imports, with a CAGR of +32.5% from 2012 to 2022. At the same time, Iraq (+31.9%) and Iran (+1.6%) displayed positive paces of growth. By contrast, the United Arab Emirates (-14.4%) illustrated a downward trend over the same period. Kuwait (+70 p.p.), Iraq (+15 p.p.) and Iran (+5.4 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Kuwait ($X) constitutes the largest market for imported ethanal (acetaldehyde) in the Middle East, comprising 54% of total imports. The second position in the ranking was taken by Iran ($X), with a 12% share of total imports. It was followed by the United Arab Emirates, with a 7.1% share.

In Kuwait, ethanal imports increased at an average annual rate of +22.4% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Iran (-14.2% per year) and the United Arab Emirates (-7.6% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, picking up by 5.2% against the previous year. Over the period under review, the import price, however, saw a perceptible reduction. The growth pace was the most rapid in 2018 an increase of 29%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Iraq ($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 (+7.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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