Saudi Arabia: Saturated Acyclic Hydrocarbons Market 2024

Saturated Acyclic Hydrocarbons Market Size in Saudi Arabia

In 2022, the Saudi saturated acyclic hydrocarbons market increased by 9.1% to $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption recorded resilient growth. Saturated acyclic hydrocarbons consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Saturated Acyclic Hydrocarbons Production in Saudi Arabia

In value terms, saturated acyclic hydrocarbons production declined modestly to $X in 2022 estimated in export price. In general, production recorded a temperate increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by 111% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Saturated Acyclic Hydrocarbons Exports

Exports from Saudi Arabia

After three years of growth, shipments abroad of saturated acyclic hydrocarbons decreased by -12.4% to X tons in 2022. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 72%. As a result, the exports attained the peak of X tons, and then shrank in the following year.

In value terms, saturated acyclic hydrocarbons exports declined significantly to $X in 2022. In general, exports showed a mild downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 106%. As a result, the exports attained the peak of $X, and then shrank significantly in the following year.

Exports by Country

The United Arab Emirates (X tons), Belgium (X tons) and Singapore (X tons) were the main destinations of saturated acyclic hydrocarbons exports from Saudi Arabia, together comprising 69% of total exports.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +82.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), France ($X) and the United Arab Emirates ($X) were the largest markets for saturated acyclic hydrocarbons exported from Saudi Arabia worldwide, together comprising 67% of total exports.

In terms of the main countries of destination, Singapore, with a CAGR of +81.7%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average saturated acyclic hydrocarbons export price stood at $X per ton in 2022, which is down by -15.2% against the previous year. Over the period under review, the export price saw a mild decrease. The growth pace was the most rapid in 2017 when the average export price increased by 21%. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+5.6%), while the prices for the other major destinations experienced more modest paces of growth.

Saturated Acyclic Hydrocarbons Imports

Imports into Saudi Arabia

In 2022, the amount of saturated acyclic hydrocarbons imported into Saudi Arabia rose to X tons, growing by 3.7% on 2021. Overall, imports posted a strong increase. The most prominent rate of growth was recorded in 2017 when imports increased by 24%. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, saturated acyclic hydrocarbons imports declined remarkably to $X in 2022. Over the period under review, imports showed a prominent increase. The growth pace was the most rapid in 2017 when imports increased by 50% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

South Africa (X tons), Belgium (X tons) and the Netherlands (X tons) were the main suppliers of saturated acyclic hydrocarbons imports to Saudi Arabia, together comprising 90% of total imports.

From 2012 to 2022, the biggest increases were recorded for South Africa (with a CAGR of +52.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($X) constituted the largest supplier of saturated acyclic hydrocarbons to Saudi Arabia, comprising 48% of total imports. The second position in the ranking was held by Belgium ($X), with a 22% share of total imports. It was followed by the Netherlands, with a 19% share.

From 2012 to 2022, the average annual growth rate of value from South Africa totaled +48.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+3.0% per year) and the Netherlands (+5.7% per year).

Import Prices by Country

In 2022, the average saturated acyclic hydrocarbons import price amounted to $X per ton, falling by -19.5% against the previous year. Overall, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average import price increased by 39% against the previous year. As a result, import price reached the peak level of $X per ton, and then dropped sharply in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was South Africa ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+10.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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