Middle East: Monophenols Market 2024

Monophenols Market Size in the Middle East

After two years of decline, the Middle Eastern monophenols market increased by 17% to $X in 2021. The market value increased at an average annual rate of +1.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Monophenols Production in the Middle East

In value terms, monophenols production soared to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 21%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Monophenols Exports

Exports in the Middle East

In 2021, shipments abroad of monophenols increased by 111% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports recorded a prominent increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, monophenols exports skyrocketed to $X in 2021. In general, exports saw slight growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey represented the key exporting country with an export of about X tons, which resulted at 51% of total exports. Jordan (X tons) took the second position in the ranking, distantly followed by the United Arab Emirates (X tons). All these countries together held near 44% share of total exports. Saudi Arabia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Jordan (with a CAGR of +51.1%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Turkey ($X) emerged as the largest monophenols supplier in the Middle East, comprising 71% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 19% share of total exports. It was followed by Saudi Arabia, with a 3.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Turkey amounted to +24.8%. In the other countries, the average annual rates were as follows: the United Arab Emirates (-7.4% per year) and Saudi Arabia (-19.0% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2021, which is down by -22.8% against the previous year. In general, the export price showed a abrupt curtailment. The most prominent rate of growth was recorded in 2017 when the export price increased by 20%. 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 the United Arab Emirates ($X per ton), while Jordan ($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 (+2.0%), while the other leaders experienced a decline in the export price figures.

Monophenols Imports

Imports in the Middle East

In 2021, purchases abroad of monophenols increased by 88% to X tons for the first time since 2018, thus ending a two-year declining trend. Total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +6.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, monophenols imports surged to $X in 2021. Overall, imports recorded noticeable growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey prevails in imports structure, finishing at X tons, which was near 78% of total imports in 2021. Saudi Arabia (X tons) held an 8.8% share (based on physical terms) of total imports, which put it in second place, followed by Iran (5.2%) and Israel (4.5%). The United Arab Emirates (X tons) followed a long way behind the leaders.

Turkey was also the fastest-growing in terms of the monophenols imports, with a CAGR of +12.7% from 2012 to 2021. Israel (-1.6%), the United Arab Emirates (-2.0%), Saudi Arabia (-3.3%) and Iran (-7.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Turkey increased by +33 percentage points.

In value terms, Turkey ($X) constitutes the largest market for imported monophenols in the Middle East, comprising 72% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with an 11% share of total imports. It was followed by the United Arab Emirates, with a 6.5% share.

In Turkey, monophenols imports increased at an average annual rate of +12.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Saudi Arabia (-5.3% per year) and the United Arab Emirates (+8.3% per year).

Import Prices by Country

In 2021, the import price in the Middle East amounted to $X per ton, with an increase of 29% against the previous year. Over the period under review, the import price, however, saw a mild shrinkage. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was the United Arab Emirates ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+10.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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