Middle East: Monoethanolamine Market 2024

Monoethanolamine Market Size in the Middle East

The Middle Eastern monoethanolamine market soared to $X in 2021, jumping by 49% against the previous year. The total consumption indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +75.4% against 2017 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Monoethanolamine Production in the Middle East

In value terms, monoethanolamine production totaled $X in 2021 estimated in export price. Over the period under review, production saw prominent growth. The most prominent rate of growth was recorded in 2017 with an increase of 81%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Monoethanolamine Exports

Exports in the Middle East

In 2021, shipments abroad of monoethanolamine and its salts decreased by -6.9% to X tons, falling for the second consecutive year after three years of growth. In general, exports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of 235%. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, monoethanolamine exports soared to $X in 2021. Overall, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 203%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia dominates exports structure, finishing at X tons, which was near 92% of total exports in 2021. The following exporters - the United Arab Emirates (X tons) and Iran (X tons) - together made up 6.7% of total exports.

Saudi Arabia was also the fastest-growing in terms of the monoethanolamine and its salts exports, with a CAGR of +36.8% from 2012 to 2021. At the same time, the United Arab Emirates (+9.9%) displayed positive paces of growth. By contrast, Iran (-7.6%) illustrated a downward trend over the same period. While the share of Saudi Arabia (+51 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of the United Arab Emirates (-8 p.p.) and Iran (-43.8 p.p.) displayed negative dynamics.

In value terms, Saudi Arabia ($X) remains the largest monoethanolamine supplier in the Middle East, comprising 91% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 4.1% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Saudi Arabia stood at +35.2%. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (+5.4% per year) and Iran (-7.1% per year).

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per ton, picking up by 30% against the previous year. Overall, the export price, however, showed a slight slump. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iran (+0.5%), while the other leaders experienced a decline in the export price figures.

Monoethanolamine Imports

Imports in the Middle East

In 2021, purchases abroad of monoethanolamine and its salts was finally on the rise to reach X tons after two years of decline. Total imports indicated a temperate expansion from 2012 to 2021: its volume increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -23.3% against 2018 indices. The most prominent rate of growth was recorded in 2018 with an increase of 62%. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, monoethanolamine imports surged to $X in 2021. Total imports indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.4% 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 decreased by -22.1% against 2018 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 79%. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

The United Arab Emirates was the major importer of monoethanolamine and its salts in the Middle East, with the volume of imports resulting at X tons, which was approx. 58% of total imports in 2021. It was distantly followed by Turkey (X tons), achieving a 24% share of total imports. The following importers - Oman (X tons), Israel (X tons), Qatar (X tons) and Kuwait (X tons) - together made up 15% of total imports.

The United Arab Emirates was also the fastest-growing in terms of the monoethanolamine and its salts imports, with a CAGR of +26.3% from 2012 to 2021. At the same time, Oman (+16.5%), Turkey (+10.7%) and Israel (+3.6%) displayed positive paces of growth. By contrast, Qatar (-4.1%) and Kuwait (-9.4%) illustrated a downward trend over the same period. The United Arab Emirates (+48 p.p.), Turkey (+9.9 p.p.) and Oman (+2.8 p.p.) significantly strengthened its position in terms of the total imports, while Qatar and Kuwait saw its share reduced by -4% and -6.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported monoethanolamine and its salts in the Middle East, comprising 54% of total imports. The second position in the ranking was held by Turkey ($X), with a 25% share of total imports. It was followed by Israel, with a 5.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates amounted to +26.2%. In the other countries, the average annual rates were as follows: Turkey (+8.4% per year) and Israel (+3.4% per year).

Import Prices by Country

In 2021, the import price in the Middle East amounted to $X per ton, growing by 36% against the previous year. Over the period under review, the import price, however, continues to indicate a perceptible shrinkage. Over the period under review, import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Israel ($X per ton) and Qatar ($X per ton), while the United Arab Emirates ($X per ton) and Oman ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Qatar (+0.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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