Saudi Arabia: Aromatic Hydrocarbon Mixtures Market 2024

Aromatic Hydrocarbon Mixtures Market Size in Saudi Arabia

After two years of growth, the Saudi aromatic hydrocarbon mixtures market decreased by -20.9% to $X in 2022. Over the period under review, consumption, however, recorded a mild increase. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Aromatic Hydrocarbon Mixtures Production in Saudi Arabia

In value terms, aromatic hydrocarbon mixtures production rose sharply to $X in 2022 estimated in export price. In general, production, however, continues to indicate a abrupt curtailment. The pace of growth appeared the most rapid in 2014 when the production volume increased by 104%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Aromatic Hydrocarbon Mixtures Exports

Exports from Saudi Arabia

In 2022, the amount of naphthalene and other aromatic hydrocarbon mixtures exported from Saudi Arabia soared to X tons, growing by 162% against the previous year. In general, exports, however, recorded a deep slump. The most prominent rate of growth was recorded in 2014 when exports increased by 243%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, aromatic hydrocarbon mixtures exports skyrocketed to $X in 2022. Overall, exports, however, saw a abrupt contraction. The pace of growth was the most pronounced in 2014 with an increase of 156%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for aromatic hydrocarbon mixtures exports from Saudi Arabia, accounting for a 79% share of total exports. Moreover, aromatic hydrocarbon mixtures exports to the United Arab Emirates exceeded the volume sent to the second major destination, Singapore (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates totaled +123.2%.

In value terms, the United Arab Emirates ($X) remains the key foreign market for naphthalene and other aromatic hydrocarbon mixtures exports from Saudi Arabia, comprising 67% of total exports. The second position in the ranking was taken by Singapore ($X), with a 9.6% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates stood at +80.9%.

Export Prices by Country

In 2022, the average aromatic hydrocarbon mixtures export price amounted to $X per ton, with a decrease of -31.9% against the previous year. In general, the export price recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2021 an increase of 65%. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to the United Arab Emirates totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (-19.0%).

Aromatic Hydrocarbon Mixtures Imports

Imports into Saudi Arabia

In 2021, after two years of growth, there was decline in purchases abroad of naphthalene and other aromatic hydrocarbon mixtures, when their volume decreased by -4.9% to X tons. Overall, imports, however, enjoyed a prominent increase. The pace of growth appeared the most rapid in 2014 with an increase of 281% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, aromatic hydrocarbon mixtures imports surged to $X in 2021. Over the period under review, imports, however, continue to indicate prominent growth. The most prominent rate of growth was recorded in 2014 when imports increased by 266% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Japan (X tons), India (X tons) and Denmark (X tons) were the main suppliers of aromatic hydrocarbon mixtures imports to Saudi Arabia, together comprising 68% of total imports.

From 2012 to 2021, the biggest increases were recorded for Japan (with a CAGR of +131.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest aromatic hydrocarbon mixtures suppliers to Saudi Arabia were India ($X), Japan ($X) and Denmark ($X), together accounting for 64% of total imports.

Japan, with a CAGR of +45.6%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average aromatic hydrocarbon mixtures import price stood at $X per ton in 2021, rising by 26% against the previous year. Over the period under review, the import price, however, continues to indicate a mild shrinkage. The most prominent rate of growth was recorded in 2018 when the average import price increased by 32% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from South Korea ($X per ton) and Singapore ($X per ton), while the price for Australia ($X per ton) and Denmark ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (-4.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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