Middle East: Melamine Resins Market 2024

Melamine Resins Market Size in the Middle East

After two years of decline, the Middle Eastern melamine resins market increased by 1.3% to $X in 2021. The market value increased at an average annual rate of +1.4% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Melamine Resins Production in the Middle East

In value terms, melamine resins production amounted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.4% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 12%. The level of production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Melamine Resins Exports

Exports in the Middle East

In 2021, the amount of melamine resins in primary forms exported in the Middle East expanded significantly to X tons, increasing by 15% compared with 2020. In general, exports recorded a prominent expansion. The growth pace was the most rapid in 2019 with an increase of 183%. Over the period under review, the exports attained the peak figure in 2021 and are likely to see steady growth in years to come.

In value terms, melamine resins exports surged to $X in 2021. Overall, exports enjoyed a prominent increase. The growth pace was the most rapid in 2018 with an increase of 59% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

Exports by Country

Turkey (X tons) represented roughly 98% of total exports in 2021.

Turkey was also the fastest-growing in terms of the melamine resins in primary forms exports, with a CAGR of +40.4% from 2012 to 2021. From 2012 to 2021, the share of Turkey increased by +75 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) also remains the largest melamine resins supplier in the Middle East.

From 2012 to 2021, the average annual growth rate of value in Turkey stood at +32.4%.

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per ton, jumping by 30% against the previous year. Overall, the export price, however, recorded a deep contraction. The growth pace was the most rapid in 2017 when the export price increased by 35%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Turkey.

From 2012 to 2021, the rate of growth in terms of prices for Turkey amounted to -5.7% per year.

Melamine Resins Imports

Imports in the Middle East

Melamine resins imports soared to X tons in 2021, growing by 18% on the year before. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 78%. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, melamine resins imports skyrocketed to $X in 2021. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 68%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Turkey represented the main importer of melamine resins in primary forms in the Middle East, with the volume of imports accounting for X tons, which was near 67% of total imports in 2021. It was distantly followed by the United Arab Emirates (X tons), Iran (X tons) and Israel (X tons), together making up a 26% share of total imports. The following importers - Yemen (X tons) and Oman (X tons) - each reached a 4.1% share of total imports.

Imports into Turkey increased at an average annual rate of +4.1% from 2012 to 2021. At the same time, Yemen (+45.5%), Israel (+14.2%), Oman (+8.7%) and the United Arab Emirates (+6.1%) displayed positive paces of growth. Moreover, Yemen emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +45.5% from 2012-2021. Iran experienced a relatively flat trend pattern. From 2012 to 2021, the share of Turkey, Israel, the United Arab Emirates and Yemen increased by +17, +4.4, +4.2 and +2.1 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported melamine resins in primary forms in the Middle East, comprising 66% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 12% share of total imports. It was followed by Iran, with a 10% share.

In Turkey, melamine resins imports expanded at an average annual rate of +3.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the United Arab Emirates (+6.6% per year) and Iran (+0.4% per year).

Import Prices by Country

In 2021, the import price in the Middle East amounted to $X per ton, increasing by 21% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Iran ($X per ton), while Yemen ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+1.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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