Middle East: Phenols Market 2024

Phenols Market Size in the Middle East

In 2022, the Middle Eastern phenols market increased by X% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Phenols Production in the Middle East

In value terms, phenols production fell to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Phenols Exports

Exports in the Middle East

In 2022, exports of phenols in the Middle East fell markedly to X tons, waning by X% against 2021. Over the period under review, exports, however, recorded a slight expansion. The pace of growth appeared the most rapid in 2018 with an increase of X%. Over the period under review, the exports attained the maximum at X tons in 2021, and then contracted notably in the following year.

In value terms, phenols exports contracted to $X in 2022. In general, exports, however, saw measured growth. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, the exports reached the peak of $X, and then dropped in the following year.

Exports by Country

Jordan (X tons) and Israel (X tons) prevails in exports structure, together committing X% of total exports. The following exporters - the United Arab Emirates (X tons) and Saudi Arabia (X tons) - each finished at a X% share of total exports.

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

In value terms, the largest phenols supplying countries in the Middle East were Israel ($X), Jordan ($X) and the United Arab Emirates ($X), together comprising X% of total exports.

The United Arab Emirates, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, rising by X% against the previous year. Over the period under review, the export price continues to indicate a pronounced expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 Jordan (X%), while the other leaders experienced mixed trends in the export price figures.

Phenols Imports

Imports in the Middle East

In 2022, the amount of phenols imported in the Middle East declined to X tons, with a decrease of X% on the previous year. Total imports indicated a pronounced expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2015 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of X tons, and then fell in the following year.

In value terms, phenols imports fell rapidly to $X in 2022. Over the period under review, imports, however, showed perceptible growth. The growth pace was the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of $X, and then contracted rapidly in the following year.

Imports by Country

Turkey was the largest importer of phenols in the Middle East, with the volume of imports finishing at X tons, which was approx. X% of total imports in 2022. Israel (X tons) ranks second in terms of the total imports with a X% share, followed by Saudi Arabia (X%), Iran (X%) and the United Arab Emirates (X%).

Turkey was also the fastest-growing in terms of the phenols imports, with a CAGR of X% from 2012 to 2022. At the same time, Iran (X%), the United Arab Emirates (X%) and Israel (X%) displayed positive paces of growth. By contrast, Saudi Arabia (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey, Iran and Israel increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X), Israel ($X) and Saudi Arabia ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Iran and the United Arab Emirates lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Iran, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, waning by X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton, and then shrank dramatically in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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