Middle East: Saturated Acyclic Hydrocarbons Market 2024

Saturated Acyclic Hydrocarbons Market Size in the Middle East

The Middle Eastern saturated acyclic hydrocarbons market amounted to $X in 2022, picking up by 1.8% against the previous year. Over the period under review, consumption saw strong growth. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Saturated Acyclic Hydrocarbons Production in the Middle East

In value terms, saturated acyclic hydrocarbons production totaled $X in 2022 estimated in export price. In general, production, however, showed a strong increase. The growth pace was the most rapid in 2017 with an increase of 155% against the previous year. Over the period under review, production attained the peak level at $X in 2020; afterwards, it flattened through to 2022.

Saturated Acyclic Hydrocarbons Exports

Exports in the Middle East

In 2022, the amount of saturated acyclic hydrocarbons exported in the Middle East fell rapidly to X tons, waning by -26.3% on the previous year's figure. In general, exports showed a deep setback. The pace of growth was the most pronounced in 2021 with an increase of 32%. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, saturated acyclic hydrocarbons exports dropped sharply to $X in 2022. Overall, exports recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2021 when exports increased by 64% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Saudi Arabia represented the major exporting country with an export of about X tons, which amounted to 85% of total exports. It was distantly followed by Iran (X tons), mixing up a 12% share of total exports. Israel (X tons) held a minor share of total exports.

Saudi Arabia experienced a relatively flat trend pattern with regard to volume of exports of saturated acyclic hydrocarbons. Iran (-12.1%) and Israel (-24.1%) illustrated a downward trend over the same period. While the share of Saudi Arabia (+33 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Iran (-13.8 p.p.) and Israel (-18.9 p.p.) displayed negative dynamics.

In value terms, Saudi Arabia ($X) remains the largest saturated acyclic hydrocarbons supplier in the Middle East, comprising 87% of total exports. The second position in the ranking was held by Iran ($X), with a 7.6% share of total exports.

In Saudi Arabia, saturated acyclic hydrocarbons exports contracted by an average annual rate of -1.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Iran (-12.8% per year) and Israel (-21.1% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, falling by -15.7% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by 24% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+3.9%), while the other leaders experienced a decline in the export price figures.

Saturated Acyclic Hydrocarbons Imports

Imports in the Middle East

In 2022, the amount of saturated acyclic hydrocarbons imported in the Middle East expanded notably to X tons, picking up by 12% against the previous year's figure. Overall, imports showed a prominent increase. The growth pace was the most rapid in 2015 when imports increased by 69% against the previous year. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, saturated acyclic hydrocarbons imports declined to $X in 2022. Total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +6.9% 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 +10.0% against 2020 indices. The growth pace was the most rapid in 2018 with an increase of 51%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Saudi Arabia (X tons) represented the main importer of saturated acyclic hydrocarbons, committing 58% of total imports. The United Arab Emirates (X tons) held a 30% share (based on physical terms) of total imports, which put it in second place, followed by Turkey (7.4%).

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +35.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported saturated acyclic hydrocarbons in the Middle East, comprising 67% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 16% share of total imports.

In Saudi Arabia, saturated acyclic hydrocarbons imports increased at an average annual rate of +8.1% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+23.8% per year) and Turkey (+3.7% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, waning by -17.3% against the previous year. Over the period under review, the import price continues to indicate a perceptible curtailment. The pace of growth appeared the most rapid in 2021 an increase of 44%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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 Turkey ($X per ton), while the United Arab Emirates ($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 (-0.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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