Middle East: Cyclic Hydrocarbons Market 2024

Cyclic Hydrocarbons Market Size in the Middle East

For the third year in a row, the Middle Eastern cyclic hydrocarbons market recorded decline in sales value, which decreased by -5.7% to $X in 2021. In general, consumption showed a perceptible setback. The level of consumption peaked at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Cyclic Hydrocarbons Production in the Middle East

In value terms, cyclic hydrocarbons production shrank modestly to $X in 2021 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 28%. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Cyclic Hydrocarbons Exports

Exports in the Middle East

In 2021, shipments abroad of other cyclic hydrocarbons was finally on the rise to reach X tons after three years of decline. Over the period under review, exports, however, showed a pronounced decrease. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, cyclic hydrocarbons exports surged to $X in 2021. Total exports indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Israel (X tons) and Saudi Arabia (X tons) were the major exporters of other cyclic hydrocarbons in 2021, resulting at near 40% and 39% of total exports, respectively. It was distantly followed by the United Arab Emirates (X tons), comprising a 21% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Saudi Arabia (with a CAGR of +40.7%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Israel ($X) remains the largest cyclic hydrocarbons supplier in the Middle East, comprising 74% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 13% share of total exports.

In Israel, cyclic hydrocarbons exports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Saudi Arabia (+30.2% per year) and the United Arab Emirates (+8.6% per year).

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per ton, declining by -12.1% against the previous year. Over the period under review, the export price, however, saw a perceptible expansion. The pace of growth appeared the most rapid in 2018 when the export price increased by 45%. Over the period under review, the export prices reached the maximum at $X per ton in 2020, and then contracted in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Israel ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+12.6%), while the other leaders experienced a decline in the export price figures.

Cyclic Hydrocarbons Imports

Imports in the Middle East

After two years of decline, overseas purchases of other cyclic hydrocarbons increased by 83% to X tons in 2021. Over the period under review, imports, however, faced a deep reduction. The most prominent rate of growth was recorded in 2015 with an increase of 85%. The volume of import peaked at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, cyclic hydrocarbons imports soared to $X in 2021. Overall, imports, however, continue to indicate a abrupt slump. The pace of growth was the most pronounced in 2015 with an increase of 57% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Saudi Arabia (X tons) and the United Arab Emirates (X tons) represented the major importers of other cyclic hydrocarbons in 2021, reaching near 41% and 29% of total imports, respectively. Israel (X tons) ranks next in terms of the total imports with a 12% share, followed by Turkey (12%). Kuwait (X tons) took a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +31.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest cyclic hydrocarbons importing markets in the Middle East were Saudi Arabia ($X), Turkey ($X) and the United Arab Emirates ($X), together accounting for 73% of total imports.

The United Arab Emirates, with a CAGR of +17.3%, recorded 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 more modest paces of growth.

Import Prices by Country

In 2021, the import price in the Middle East amounted to $X per ton, reducing by -17.6% against the previous year. Over the period under review, the import price, however, posted a moderate expansion. The pace of growth was the most pronounced in 2019 an increase of 53%. Over the period under review, import prices hit record highs at $X per ton in 2020, and then contracted markedly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2021, 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 (+3.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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