Middle East: M-Xylene And Xylenes Market 2024

M-Xylene And Xylenes Market Size in the Middle East

The Middle Eastern m-xylene and xylenes market reduced to $X in 2022, which is down by -9.8% against the previous year. Over the period under review, consumption recorded a abrupt contraction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

M-Xylene And Xylenes Production in the Middle East

In value terms, m-xylene and xylenes production declined slightly to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 69%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

M-Xylene And Xylenes Exports

Exports in the Middle East

In 2022, shipments abroad of m-xylene and mixed xylene isomers increased by 18% to X tons, rising for the third consecutive year after three years of decline. Over the period under review, exports saw prominent growth. The most prominent rate of growth was recorded in 2016 when exports increased by 167% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, m-xylene and xylenes exports skyrocketed to $X in 2022. Overall, exports recorded prominent growth. The pace of growth appeared the most rapid in 2016 with an increase of 98%. The level of export peaked in 2022 and is likely to continue growth in the near future.

Exports by Country

Israel (X tons) and Iran (X tons) were the major exporters of m-xylene and mixed xylene isomers in 2022, finishing at near 46% and 39% of total exports, respectively. It was distantly followed by Oman (X tons), making up a 12% share of total exports. Saudi Arabia (X tons) held a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Oman (with a CAGR of +46.0%), while the other leaders experienced more modest paces of growth.

In value terms, Israel ($X) emerged as the largest m-xylene and xylenes supplier in the Middle East, comprising 61% of total exports. The second position in the ranking was taken by Iran ($X), with a 29% share of total exports. It was followed by Oman, with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Israel stood at +4.2%. The remaining exporting countries recorded the following average annual rates of exports growth: Iran (+17.9% per year) and Oman (+43.4% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, with an increase of 34% against the previous year. In general, the export price, however, showed a pronounced slump. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+0.3%), while the other leaders experienced a decline in the export price figures.

M-Xylene And Xylenes Imports

Imports in the Middle East

In 2022, the amount of m-xylene and mixed xylene isomers imported in the Middle East declined sharply to X tons, with a decrease of -31.8% compared with 2021. Overall, imports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2021 with an increase of 364% against the previous year. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, m-xylene and xylenes imports dropped significantly to $X in 2022. In general, imports recorded a abrupt descent. The growth pace was the most rapid in 2021 when imports increased by 152%. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

The United Arab Emirates prevails in imports structure, finishing at X tons, which was near 86% of total imports in 2022. The following importers - Kuwait (X tons), Oman (X tons), Iraq (X tons) and Jordan (X tons) - together made up 12% of total imports.

The United Arab Emirates experienced a relatively flat trend pattern with regard to volume of imports of m-xylene and mixed xylene isomers. At the same time, Oman (+30.6%), Iraq (+17.8%) and Kuwait (+17.7%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +30.6% from 2012-2022. By contrast, Jordan (-6.3%) illustrated a downward trend over the same period. The United Arab Emirates (+32 p.p.), Oman (+3.6 p.p.), Kuwait (+3.4 p.p.) and Iraq (+2.4 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, the United Arab Emirates ($X) constitutes the largest market for imported m-xylene and mixed xylene isomers in the Middle East, comprising 68% of total imports. The second position in the ranking was held by Kuwait ($X), with an 8% share of total imports. It was followed by Oman, with a 7.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates amounted to -12.7%. In the other countries, the average annual rates were as follows: Kuwait (+13.2% per year) and Oman (+24.1% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, picking up by 8.4% against the previous year. Over the period under review, the import price, however, recorded a abrupt downturn. The growth pace was the most rapid in 2017 an increase of 43%. The level of import peaked 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 Jordan ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Jordan (-1.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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