Middle East: Maleic Anhydride Market 2024

Maleic Anhydride Market Size in the Middle East

In 2021, the Middle Eastern maleic anhydride market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption saw a prominent expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Maleic Anhydride Production in the Middle East

In value terms, maleic anhydride production contracted to $X in 2021 estimated in export price. Over the period under review, production recorded a perceptible descent. The growth pace was the most rapid in 2018 with an increase of 9,196%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Maleic Anhydride Exports

Exports in the Middle East

In 2021, after two years of decline, there was significant growth in overseas shipments of maleic anhydride, when their volume increased by 51% to X tons. In general, exports saw a buoyant increase. The pace of growth was the most pronounced in 2018 when exports increased by 179%. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, maleic anhydride exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate a resilient increase. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The biggest shipments were from the United Arab Emirates (X tons), Turkey (X tons), Israel (X tons) and Iran (X tons), together recording 97% of total export. Saudi Arabia (X tons) held a little share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Turkey (with a CAGR of +33.1%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Turkey ($X) and Israel ($X) were the countries with the highest levels of exports in 2021, with a combined 89% share of total exports.

Among the main exporting countries, Turkey, with a CAGR of +35.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per ton, increasing by 27% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The level of export peaked at $X per ton in 2017; however, from 2018 to 2021, 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 ($X per ton), while Iran ($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 (+7.6%), while the other leaders experienced more modest paces of growth.

Maleic Anhydride Imports

Imports in the Middle East

In 2021, imports of maleic anhydride in the Middle East surged to X tons, picking up by 45% on the year before. Total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +91.2% against 2016 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, maleic anhydride imports skyrocketed to $X in 2021. In general, imports enjoyed a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey represented the major importing country with an import of around X tons, which amounted to 61% of total imports. Saudi Arabia (X tons) held the second position in the ranking, followed by the United Arab Emirates (X tons). All these countries together held near 36% share of total imports.

Turkey was also the fastest-growing in terms of the maleic anhydride imports, with a CAGR of +11.7% from 2012 to 2021. At the same time, the United Arab Emirates (+1.6%) displayed positive paces of growth. Saudi Arabia experienced a relatively flat trend pattern. Turkey (+26 p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates and Saudi Arabia saw its share reduced by -5.8% and -11% from 2012 to 2021, respectively.

In value terms, Turkey ($X) constitutes the largest market for imported maleic anhydride in the Middle East, comprising 61% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a 21% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in Turkey amounted to +13.5%. The remaining importing countries recorded the following average annual rates of imports growth: Saudi Arabia (+0.1% 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, rising by 67% against the previous year. In general, the import price recorded a relatively flat trend pattern. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, amid the top importers, 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 Turkey (+1.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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