Middle East: Isocyanates Market 2024

Isocyanates Market Size in the Middle East

The Middle Eastern isocyanates market shrank slightly to $X in 2022, falling by X% against the previous year. In general, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Isocyanates Production in the Middle East

In value terms, isocyanates production plummeted to $X in 2022 estimated in export price. Overall, production showed tangible growth. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, production attained the peak level of $X, and then reduced rapidly in the following year.

Isocyanates Exports

Exports in the Middle East

In 2022, the amount of isocyanates exported in the Middle East soared to X tons, with an increase of X% against the previous year. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, isocyanates exports soared to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern 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 represented the main exporting country with an export of around X tons, which reached X% of total exports. The United Arab Emirates (X tons) held the second position in the ranking, distantly followed by Turkey (X tons). All these countries together held approx. X% share of total exports. Iran (X tons) followed a long way behind the leaders.

Saudi Arabia experienced a relatively flat trend pattern with regard to volume of exports of isocyanates. At the same time, the United Arab Emirates (X%), Turkey (X%) and Iran (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2022. The United Arab Emirates (X p.p.) and Turkey (X p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest isocyanates supplier in the Middle East, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Turkey, with a X% share.

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

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, shrinking by X% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the export price increased by X%. The level of export peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, 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 export price figures.

Isocyanates Imports

Imports in the Middle East

Isocyanates imports skyrocketed to X tons in 2022, growing by X% on 2021 figures. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, isocyanates imports skyrocketed to $X in 2022. Total imports indicated moderate growth 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 most prominent rate of growth was recorded in 2017 with an increase of X%. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

Turkey represented the major importer of isocyanates in the Middle East, with the volume of imports recording X tons, which was near X% of total imports in 2022. The United Arab Emirates (X tons) held the second position in the ranking, distantly followed by Israel (X tons). All these countries together held near X% share of total imports. The following importers - Iraq (X tons) and Iran (X tons) - together made up X% of total imports.

Imports into Turkey increased at an average annual rate of X% from 2012 to 2022. At the same time, the United Arab Emirates (X%) and Iraq (X%) 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 X% from 2012-2022. Israel experienced a relatively flat trend pattern. By contrast, Iran (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey, the United Arab Emirates and Iraq increased by X, X and X percentage points, respectively.

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

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

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of X%. The level of import peaked at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

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 ($X per ton), while Iraq ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :