Middle East: Ketone And Quinone Market 2024

Ketone And Quinone Market Size in the Middle East

In 2021, after two years of growth, there was decline in the Middle Eastern ketone and quinone market, when its value decreased by -0.8% to $X. In general, consumption saw a mild contraction. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Ketone And Quinone Production in the Middle East

In value terms, ketone and quinone production dropped modestly to $X in 2021 estimated in export price. In general, production, however, faced a sharp reduction. The growth pace was the most rapid in 2013 when the production volume increased by 82%. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Ketone And Quinone Exports

Exports in the Middle East

In 2021, approx. X tons of ketones and quinones were exported in the Middle East; increasing by 45% on the previous year. Over the period under review, exports continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 77% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to see gradual growth in the immediate term.

In value terms, ketone and quinone exports surged to $X in 2021. Overall, exports saw a resilient increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Saudi Arabia prevails in exports structure, resulting at X tons, which was near 94% of total exports in 2021. Turkey (X tons) took a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to ketone and quinone exports from Saudi Arabia stood at +15.2%. At the same time, Turkey (+24.8%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +24.8% from 2012-2021. While the share of Saudi Arabia (+2.3 p.p.) and Turkey (+2.1 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest ketone and quinone supplier in the Middle East, comprising 70% of total exports. The second position in the ranking was taken by Turkey ($X), with a 13% share of total exports.

In Saudi Arabia, ketone and quinone exports expanded at an average annual rate of +16.2% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per ton, rising by 16% against the previous year. Overall, the export price, however, continues to indicate a perceptible curtailment. The pace of growth was the most pronounced in 2020 when the export price increased by 44% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+0.9%).

Ketone And Quinone Imports

Imports in the Middle East

In 2021, ketone and quinone imports in the Middle East surged to X tons, growing by 37% on the previous year's figure. Total imports indicated a tangible increase from 2012 to 2021: its volume increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +75.7% against 2016 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, ketone and quinone imports surged to $X in 2021. Total imports indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +56.1% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey represented the largest importing country with an import of around X tons, which reached 57% of total imports. The United Arab Emirates (X tons) ranks second in terms of the total imports with a 17% share, followed by Israel (15%) and Iran (5.4%). The following importers - Jordan (X tons) and Saudi Arabia (X tons) - each reached a 3.2% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to ketone and quinone imports into Turkey stood at +6.9%. At the same time, Israel (+25.9%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +25.9% from 2012-2021. By contrast, the United Arab Emirates (-1.2%), Iran (-8.1%), Jordan (-8.6%) and Saudi Arabia (-15.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Turkey and Israel increased by +17 and +13 percentage points, respectively.

In value terms, Turkey ($X) constitutes the largest market for imported ketones and quinones in the Middle East, comprising 49% of total imports. The second position in the ranking was held by Israel ($X), with an 18% share of total imports. It was followed by the United Arab Emirates, with a 14% share.

From 2012 to 2021, the average annual growth rate of value in Turkey totaled +7.2%. The remaining importing countries recorded the following average annual rates of imports growth: Israel (+0.4% per year) and the United Arab Emirates (+1.1% per year).

Import Prices by Country

In 2021, the import price in the Middle East amounted to $X per ton, surging by 8.8% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the import price increased by 22% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Saudi Arabia ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+15.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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