Middle East: Halogenated Hydrocarbon Derivative Market 2024

Halogenated Hydrocarbon Derivative Market Size in the Middle East

The Middle Eastern halogenated hydrocarbon derivative market expanded modestly to $X in 2022, increasing by 2.8% against the previous year. Overall, consumption continues to indicate a buoyant increase. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Halogenated Hydrocarbon Derivative Production in the Middle East

In value terms, halogenated hydrocarbon derivative production totaled $X in 2022 estimated in export price. In general, production continues to indicate a strong expansion. The growth pace was the most rapid in 2018 when the production volume increased by 48%. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Halogenated Hydrocarbon Derivative Exports

Exports in the Middle East

Halogenated hydrocarbon derivative exports surged to X tons in 2022, increasing by 20% compared with the previous year. In general, exports recorded a remarkable increase. The most prominent rate of growth was recorded in 2020 with an increase of 82%. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, halogenated hydrocarbon derivative exports shrank to $X in 2022. Overall, exports enjoyed a strong expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 94%. The level of export peaked at $X in 2021, and then declined in the following year.

Exports by Country

The shipments of the two major exporters of halogenated derivatives of hydrocarbons, namely Qatar and Saudi Arabia, represented more than two-thirds of total export.

From 2012 to 2022, the biggest increases were recorded for Qatar (with a CAGR of +20.5%).

In value terms, the largest halogenated hydrocarbon derivative supplying countries in the Middle East were Qatar ($X) and Saudi Arabia ($X).

Qatar, with a CAGR of +40.8%, saw 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, shrinking by -21.5% against the previous year. In general, the export price, however, continues to indicate a noticeable expansion. The pace of growth was the most pronounced in 2021 when the export price increased by 79% against the previous year. As a result, the export price reached the peak level of $X per ton, and then declined remarkably in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (+16.9%).

Halogenated Hydrocarbon Derivative Imports

Imports in the Middle East

In 2022, overseas purchases of halogenated derivatives of hydrocarbons were finally on the rise to reach X tons after two years of decline. Total imports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, halogenated hydrocarbon derivative imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey represented the largest importer of halogenated derivatives of hydrocarbons in the Middle East, with the volume of imports finishing at X tons, which was near 47% of total imports in 2022. The United Arab Emirates (X tons) ranks second in terms of the total imports with a 24% share, followed by Saudi Arabia (10%) and Israel (5.6%). Iran (X tons), Iraq (X tons) and Kuwait (X tons) took a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Iraq (with a CAGR of +20.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) constitutes the largest market for imported halogenated derivatives of hydrocarbons in the Middle East, comprising 43% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 19% share of total imports. It was followed by Saudi Arabia, with a 13% share.

From 2012 to 2022, the average annual growth rate of value in Turkey stood at +9.4%. In the other countries, the average annual rates were as follows: the United Arab Emirates (+0.6% per year) and Saudi Arabia (-2.9% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, approximately reflecting the previous year. Over the period under review, the import price, however, continues to indicate a slight shrinkage. The pace of growth was the most pronounced in 2021 an increase of 21% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Turkey (+3.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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