Middle East: Quinones Market 2024

Quinones Market Size in the Middle East

After two years of growth, the Middle Eastern quinones market decreased by -8.2% to $X in 2022. Over the period under review, consumption posted a significant increase. The level of consumption peaked at $X in 2021, and then shrank in the following year.

Quinones Production in the Middle East

In value terms, quinones production reduced slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2016 with an increase of 65%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Quinones Exports

Exports in the Middle East

In 2022, shipments abroad of quinones was finally on the rise to reach X tons for the first time since 2015, thus ending a six-year declining trend. Overall, exports, however, faced a sharp downturn. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, quinones exports expanded markedly to $X in 2022. In general, exports, however, showed a dramatic contraction. The most prominent rate of growth was recorded in 2020 with an increase of 19% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons) and Israel (X tons) dominates exports structure, together comprising 86% of total exports. It was distantly followed by Jordan (X kg), making up a 9.6% share of total exports. Turkey (X kg) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +11.2%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the United Arab Emirates ($X) remains the largest quinones supplier in the Middle East, comprising 81% of total exports. The second position in the ranking was held by Israel ($X), with a 15% share of total exports. It was followed by Jordan, with a 2.8% share.

In the United Arab Emirates, quinones exports expanded at an average annual rate of +32.5% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Israel (-34.5% per year) and Jordan (-9.4% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, dropping by -17.6% against the previous year. In general, the export price, however, showed strong growth. The growth pace was the most rapid in 2020 an increase of 47% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2021, and then contracted dramatically in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+19.2%), while the other leaders experienced mixed trends in the export price figures.

Quinones Imports

Imports in the Middle East

For the third consecutive year, the Middle East recorded growth in overseas purchases of quinones, which increased by 1.3% to X tons in 2022. In general, imports continue to indicate buoyant growth. The growth pace was the most rapid in 2015 with an increase of 150%. The volume of import peaked in 2022 and is likely to see gradual growth in the near future.

In value terms, quinones imports shrank to $X in 2022. Overall, imports recorded a strong increase. The most prominent rate of growth was recorded in 2018 when imports increased by 341%. Over the period under review, imports hit record highs at $X in 2021, and then reduced in the following year.

Imports by Country

Saudi Arabia (X tons) and Turkey (X tons) dominates imports structure, together creating 85% of total imports. It was distantly followed by Jordan (X tons), making up an 8.2% share of total imports. Israel (X tons) held a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Saudi Arabia (with a CAGR of +23.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported quinones in the Middle East, comprising 63% of total imports. The second position in the ranking was taken by Turkey ($X), with a 29% share of total imports. It was followed by Jordan, with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Saudi Arabia stood at +24.2%. In the other countries, the average annual rates were as follows: Turkey (+12.9% per year) and Jordan (+16.4% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, falling by -8.2% against the previous year. Import price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 when the import price increased by 88%. The level of import peaked at $X per ton in 2021, and then fell 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 Saudi Arabia ($X per ton), while Jordan ($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 (+2.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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