Saudi Arabia: Unsaturated Acyclic Hydrocarbons Market 2024

Unsaturated Acyclic Hydrocarbons Market Size in Saudi Arabia

The Saudi unsaturated acyclic hydrocarbons market skyrocketed to $X in 2021, picking up by 22% against the previous year. In general, consumption enjoyed a remarkable increase. Unsaturated acyclic hydrocarbons consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Unsaturated Acyclic Hydrocarbons Production in Saudi Arabia

In value terms, unsaturated acyclic hydrocarbons production amounted to less than $X in 2021 estimated in export price. Overall, production saw a precipitous descent. The growth pace was the most rapid in 2014 with a decrease of -1.5%. Unsaturated acyclic hydrocarbons production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Unsaturated Acyclic Hydrocarbons Exports

Exports from Saudi Arabia

In 2021, shipments abroad of unsaturated acyclic hydrocarbons increased by 184% to X tons, rising for the second year in a row after three years of decline. Over the period under review, exports, however, saw a noticeable downturn. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, unsaturated acyclic hydrocarbons exports soared to $X in 2021. In general, exports saw a perceptible increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

India (X tons), the United Arab Emirates (X tons) and the United States (X tons) were the main destinations of unsaturated acyclic hydrocarbons exports from Saudi Arabia, together accounting for 86% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of +206.1%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) remains the key foreign market for unsaturated acyclic hydrocarbons exports from Saudi Arabia, comprising 62% of total exports. The second position in the ranking was taken by India ($X), with a 22% share of total exports. It was followed by the United States, with a 7.6% share.

From 2012 to 2021, the average annual growth rate of value to the United Arab Emirates totaled +241.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+28.9% per year) and the United States (+10.4% per year).

Export Prices by Country

The average unsaturated acyclic hydrocarbons export price stood at $X per ton in 2021, with an increase of 34% against the previous year. In general, export price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, unsaturated acyclic hydrocarbons export price increased by +69.3% against 2019 indices. The pace of growth was the most pronounced in 2013 an increase of 89% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average 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 United Arab Emirates ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+11.4%), while the prices for the other major destinations experienced a decline.

Unsaturated Acyclic Hydrocarbons Imports

Imports into Saudi Arabia

In 2021, purchases abroad of unsaturated acyclic hydrocarbons decreased by -3.2% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, imports, however, showed a remarkable increase. The pace of growth was the most pronounced in 2017 with an increase of 71%. Over the period under review, imports reached the peak figure at X tons in 2020, and then declined slightly in the following year.

In value terms, unsaturated acyclic hydrocarbons imports surged to $X in 2021. Over the period under review, imports, however, showed prominent growth. The most prominent rate of growth was recorded in 2017 when imports increased by 114% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, Belgium (X tons) constituted the largest supplier of unsaturated acyclic hydrocarbons to Saudi Arabia, accounting for a 68% share of total imports. Moreover, unsaturated acyclic hydrocarbons imports from Belgium exceeded the figures recorded by the second-largest supplier, India (X tons), sixfold. South Korea (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from Belgium amounted to +30.1%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+31.2% per year) and South Korea (+6.0% per year).

In value terms, Belgium ($X) constituted the largest supplier of unsaturated acyclic hydrocarbons to Saudi Arabia, comprising 71% of total imports. The second position in the ranking was held by South Korea ($X), with an 11% share of total imports. It was followed by India, with a 9.9% share.

From 2012 to 2021, the average annual growth rate of value from Belgium stood at +25.4%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+3.6% per year) and India (+29.2% per year).

Import Prices by Country

In 2021, the average unsaturated acyclic hydrocarbons import price amounted to $X per ton, increasing by 23% against the previous year. Overall, the import price, however, continues to indicate a perceptible setback. The pace of growth was the most pronounced in 2017 when the average import price increased by 26%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (-1.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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