Middle East: Platinum Catalysts Market 2024

Platinum Catalysts Market Size in the Middle East

In 2022, the Middle Eastern platinum catalysts market decreased by -2.8% to $X for the first time since 2019, thus ending a two-year rising trend. The market value increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The level of consumption peaked at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Platinum Catalysts Production in the Middle East

In value terms, platinum catalysts production fell modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.5% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 14%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Platinum Catalysts Exports

Exports in the Middle East

Platinum catalysts exports dropped markedly to X tons in 2022, waning by -64.1% compared with the previous year. Overall, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 445% against the previous year. As a result, the exports reached the peak of X tons, and then declined rapidly in the following year.

In value terms, platinum catalysts exports surged to $X in 2022. Over the period under review, exports, however, saw a significant expansion. The pace of growth was the most pronounced in 2018 when exports increased by 239%. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports by Country

In 2022, Jordan (X tons) represented the key exporter of platinum catalysts, creating 77% of total exports. It was distantly followed by Bahrain (X tons), creating a 21% share of total exports. Turkey (X kg) held a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to platinum catalysts exports from Jordan stood at -2.9%. At the same time, Bahrain (+7.0%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +7.0% from 2012-2022. By contrast, Turkey (-6.3%) illustrated a downward trend over the same period. Bahrain (+21 p.p.) and Turkey (+1.7 p.p.) significantly strengthened its position in terms of the total exports, while Jordan saw its share reduced by -22% from 2012 to 2022, respectively.

In value terms, Turkey ($X) remains the largest platinum catalysts supplier in the Middle East, comprising 65% of total exports. The second position in the ranking was taken by Jordan ($X), with a 23% share of total exports.

In Turkey, platinum catalysts exports increased at an average annual rate of +184.6% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Jordan (+7.1% per year) and Bahrain (+210.7% per year).

Export Prices by Country

The export price in the Middle East stood at $X per kg in 2022, increasing by 233% against the previous year. In general, the export price saw significant growth. The most prominent rate of growth was recorded in 2018 when the export price increased by 388% against the previous year. The level of export peaked at $X per kg in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per kg), while Jordan ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+203.6%), while the other leaders experienced more modest paces of growth.

Platinum Catalysts Imports

Imports in the Middle East

In 2022, approx. X tons of platinum catalysts were imported in the Middle East; dropping by -6% on 2021. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when imports increased by 87%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, platinum catalysts imports declined markedly to $X in 2022. Over the period under review, imports, however, enjoyed a tangible expansion. The pace of growth appeared the most rapid in 2018 when imports increased by 175%. Over the period under review, imports hit record highs at $X in 2021, and then shrank rapidly in the following year.

Imports by Country

Jordan represented the key importing country with an import of about X tons, which finished at 40% of total imports. It was distantly followed by Israel (X tons), Lebanon (X tons) and Iran (X tons), together creating a 54% share of total imports. Qatar (X tons) held a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Lebanon (with a CAGR of +19.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Jordan ($X), Israel ($X) and Iran ($X) constituted the countries with the highest levels of imports in 2022, together comprising 64% of total imports.

Jordan, with a CAGR of +14.9%, saw the highest rates of growth with regard to the value of imports, in terms of 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

The import price in the Middle East stood at $X per ton in 2022, dropping by -20.5% against the previous year. Over the period under review, the import price, however, showed a tangible expansion. The most prominent rate of growth was recorded in 2018 when the import price increased by 142%. The level of import peaked at $X per ton in 2021, and then declined markedly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iran (+14.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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