Middle East: Aromatic Hydrocarbon Mixtures Market 2024

Aromatic Hydrocarbon Mixtures Market Size in the Middle East

In 2022, the Middle Eastern aromatic hydrocarbon mixtures market decreased by -13.7% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption recorded a mild shrinkage. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Aromatic Hydrocarbon Mixtures Production in the Middle East

In value terms, aromatic hydrocarbon mixtures production expanded rapidly to $X in 2022 estimated in export price. Overall, production recorded a prominent increase. The pace of growth was the most pronounced in 2020 when the production volume increased by 28%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Aromatic Hydrocarbon Mixtures Exports

Exports in the Middle East

Aromatic hydrocarbon mixtures exports skyrocketed to X tons in 2022, picking up by 16% compared with 2021 figures. Over the period under review, exports posted a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of 66%. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, aromatic hydrocarbon mixtures exports soared to $X in 2022. Overall, exports showed a strong expansion. The most prominent rate of growth was recorded in 2013 with an increase of 55%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

Yemen was the largest exporting country with an export of about X tons, which reached 71% of total exports. It was distantly followed by Turkey (X tons), comprising a 21% share of total exports. The following exporters - Saudi Arabia (X tons), Oman (X tons) and Israel (X tons) - each resulted at a 6.3% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to aromatic hydrocarbon mixtures exports from Yemen stood at +34.1%. At the same time, Turkey (+186.7%), Oman (+11.8%) and Israel (+10.5%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +186.7% from 2012-2022. By contrast, Saudi Arabia (-5.4%) illustrated a downward trend over the same period. While the share of Yemen (+52 p.p.) and Turkey (+21 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Israel (-1.7 p.p.) and Saudi Arabia (-17.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest aromatic hydrocarbon mixtures supplying countries in the Middle East were Yemen ($X), Turkey ($X) and Israel ($X), with a combined 94% share of total exports.

In terms of the main exporting countries, Turkey, with a CAGR of +161.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, with an increase of 13% against the previous year. In general, the export price, however, saw a noticeable decline. Over the period under review, the export prices attained the peak figure 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 (+0.7%), while the other leaders experienced a decline in the export price figures.

Aromatic Hydrocarbon Mixtures Imports

Imports in the Middle East

In 2022, after two years of growth, there was significant decline in overseas purchases of naphthalene and other aromatic hydrocarbon mixtures, when their volume decreased by -53.1% to X tons. Over the period under review, imports, however, enjoyed slight growth. The most prominent rate of growth was recorded in 2015 when imports increased by 156%. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, aromatic hydrocarbon mixtures imports contracted notably to $X in 2022. In general, imports continue to indicate a noticeable decline. The pace of growth appeared the most rapid in 2021 with an increase of 98%. As a result, imports reached the peak of $X, and then shrank rapidly in the following year.

Imports by Country

The United Arab Emirates was the main importer of naphthalene and other aromatic hydrocarbon mixtures in the Middle East, with the volume of imports amounting to X tons, which was approx. 56% of total imports in 2022. It was distantly followed by Oman (X tons) and Turkey (X tons), together achieving a 41% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +8.7%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the United Arab Emirates ($X), Oman ($X) and Turkey ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 96% of total imports.

Turkey, with a CAGR of +6.6%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, increasing by 2.5% against the previous year. Overall, the import price, however, showed a pronounced reduction. The most prominent rate of growth was recorded in 2018 an increase of 32%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+1.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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