Middle East: Nitrites Market 2024

Nitrites Market Size in the Middle East

The Middle Eastern nitrites market reached $X in 2021, surging by 2.3% against the previous year. Over the period under review, consumption, however, continues to indicate a noticeable curtailment. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Nitrites Production in the Middle East

In value terms, nitrites production fell to $X in 2021 estimated in export price. The total production indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +7.7% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by 32%. The level of production peaked at $X in 2020, and then reduced in the following year.

Nitrites Exports

Exports in the Middle East

For the third year in a row, the Middle East recorded decline in shipments abroad of nitrites, which decreased by -17.5% to X tons in 2021. In general, exports recorded a abrupt descent. The growth pace was the most rapid in 2018 with an increase of 46% against the previous year. The volume of export peaked at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, nitrites exports declined to $X in 2021. Over the period under review, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2018 with an increase of 80% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia prevails in exports structure, resulting at X tons, which was near 80% of total exports in 2021. The United Arab Emirates (X tons) ranks second in terms of the total exports with a 9.9% share, followed by Turkey (4.7%).

From 2012 to 2021, average annual rates of growth with regard to nitrites exports from Saudi Arabia stood at -15.8%. The United Arab Emirates (-12.3%) and Turkey (-13.7%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+3.1 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest nitrites supplier in the Middle East, comprising 82% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 7.8% share of total exports.

In Saudi Arabia, nitrites exports contracted by an average annual rate of -8.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the United Arab Emirates (-12.4% per year) and Turkey (-13.1% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2021, rising by 8.6% against the previous year. Export price indicated resilient growth from 2012 to 2021: its price increased at an average annual rate of +6.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, nitrites export price increased by +39.4% against 2017 indices. The pace of growth appeared the most rapid in 2014 an increase of 94% against the previous year. The level of export peaked in 2021 and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, 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 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+8.8%), while the other leaders experienced mixed trends in the export price figures.

Nitrites Imports

Imports in the Middle East

Nitrites imports rose slightly to X tons in 2021, surging by 1.6% compared with the year before. Overall, imports, however, continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2019 when imports increased by 38% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, nitrites imports surged to $X in 2021. In general, imports, however, continue to indicate a abrupt decline. The pace of growth appeared the most rapid in 2019 with an increase of 22% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates (X tons) and Turkey (X tons) prevails in imports structure, together creating 86% of total imports. Qatar (X tons), Israel (X tons), Bahrain (X tons), Iran (X tons) and Jordan (X tons) held a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by the United Arab Emirates (with a CAGR of +11.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), the United Arab Emirates ($X) and Qatar ($X) constituted the countries with the highest levels of imports in 2021, with a combined 86% share of total imports.

The United Arab Emirates, with a CAGR of +15.4%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in the Middle East amounted to $X per ton, increasing by 16% against the previous year. Overall, the import price, however, recorded a mild decline. The most prominent rate of growth was recorded in 2018 an increase of 26% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Bahrain ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bahrain (+12.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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