Middle East: Unsaturated Acyclic Hydrocarbons Market 2024

Unsaturated Acyclic Hydrocarbons Market Size in the Middle East

After four years of decline, the Middle Eastern unsaturated acyclic hydrocarbons market increased by 2.3% to $X in 2021. In general, consumption, however, saw a pronounced slump. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Unsaturated Acyclic Hydrocarbons Production in the Middle East

In value terms, unsaturated acyclic hydrocarbons production totaled $X in 2021 estimated in export price. Over the period under review, production, however, showed a noticeable decline. The most prominent rate of growth was recorded in 2016 when the production volume increased by 16% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Unsaturated Acyclic Hydrocarbons Exports

Exports in the Middle East

In 2021, shipments abroad of unsaturated acyclic hydrocarbons increased by 25% to X tons, rising for the sixth year in a row after two years of decline. Overall, exports enjoyed a strong increase. The pace of growth appeared the most rapid in 2016 with an increase of 70%. Over the period under review, the exports attained the maximum in 2021 and are likely to continue growth in the near future.

In value terms, unsaturated acyclic hydrocarbons exports soared to $X in 2021. In general, exports showed resilient growth. The most prominent rate of growth was recorded in 2017 when exports increased by 67%. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in years to come.

Exports by Country

In 2021, Iran (X tons) represented the major exporter of unsaturated acyclic hydrocarbons, creating 84% of total exports. It was distantly followed by Saudi Arabia (X tons), constituting a 15% share of total exports.

Iran was also the fastest-growing in terms of the unsaturated acyclic hydrocarbons exports, with a CAGR of +52.2% from 2012 to 2021. Saudi Arabia (-2.4%) illustrated a downward trend over the same period. While the share of Iran (+75 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Saudi Arabia (-74.3 p.p.) displayed negative dynamics.

In value terms, Iran ($X) remains the largest unsaturated acyclic hydrocarbons supplier in the Middle East, comprising 71% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 27% share of total exports.

In Iran, unsaturated acyclic hydrocarbons exports increased at an average annual rate of +49.6% over the period from 2012-2021.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2021, increasing by 13% against the previous year. In general, the export price, however, showed a slight slump. The most prominent rate of growth was recorded in 2013 an increase of 52% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+5.3%).

Unsaturated Acyclic Hydrocarbons Imports

Imports in the Middle East

In 2021, imports of unsaturated acyclic hydrocarbons in the Middle East dropped slightly to X tons, falling by -2.1% on the year before. Overall, imports, however, continue to indicate a resilient expansion. The pace of growth appeared the most rapid in 2016 when imports increased by 154%. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, unsaturated acyclic hydrocarbons imports skyrocketed to $X in 2021. In general, imports, however, continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2017 with an increase of 141% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Saudi Arabia was the main importer of unsaturated acyclic hydrocarbons in the Middle East, with the volume of imports recording X tons, which was near 86% of total imports in 2021. It was distantly followed by the United Arab Emirates (X tons), creating a 10% share of total imports. The following importers - Kuwait (X tons) and Oman (X tons) - each recorded a 3.1% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to unsaturated acyclic hydrocarbons imports into Saudi Arabia stood at +17.7%. At the same time, Oman (+69.9%) and the United Arab Emirates (+15.8%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +69.9% from 2012-2021. By contrast, Kuwait (-2.9%) illustrated a downward trend over the same period. Saudi Arabia (+11 p.p.) significantly strengthened its position in terms of the total imports, while Kuwait saw its share reduced by -6.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported unsaturated acyclic hydrocarbons in the Middle East, comprising 80% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 15% share of total imports. It was followed by Kuwait, with a 2% share.

In Saudi Arabia, unsaturated acyclic hydrocarbons imports increased at an average annual rate of +14.3% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+17.0% per year) and Kuwait (-0.2% per year).

Import Prices by Country

In 2021, the import price in the Middle East amounted to $X per ton, jumping by 22% against the previous year. In general, the import price, however, continues to indicate a noticeable reduction. The pace of growth appeared the most rapid in 2019 an increase of 24%. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+2.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :