United Arab Emirates: Cyclic Hydrocarbons Market 2024

Cyclic Hydrocarbons Market Size in the United Arab Emirates

The cyclic hydrocarbons market in the United Arab Emirates declined significantly to $X in 2021, shrinking by -15.2% against the previous year. In general, consumption continues to indicate a slight decline. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Cyclic Hydrocarbons Production in the United Arab Emirates

In value terms, cyclic hydrocarbons production reduced dramatically to $X in 2021 estimated in export price. Overall, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the production volume increased by 152%. Cyclic hydrocarbons production peaked at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Cyclic Hydrocarbons Exports

Exports from the United Arab Emirates

In 2021, overseas shipments of other cyclic hydrocarbons decreased by -3.8% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, exports, however, posted buoyant growth. The pace of growth appeared the most rapid in 2016 with an increase of 734%. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, cyclic hydrocarbons exports dropped dramatically to $X in 2021. Over the period under review, exports, however, continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2016 when exports increased by 639% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Germany (X tons) was the main destination for cyclic hydrocarbons exports from the United Arab Emirates, accounting for a 58% share of total exports. Moreover, cyclic hydrocarbons exports to Germany exceeded the volume sent to the second major destination, Kuwait (X tons), sixfold. Nigeria (X tons) ranked third in terms of total exports with a 6.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany stood at +25.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (+24.8% per year) and Nigeria (+20.4% per year).

In value terms, Germany ($X) remains the key foreign market for other cyclic hydrocarbons exports from the United Arab Emirates, comprising 41% of total exports. The second position in the ranking was taken by Kuwait ($X), with a 15% share of total exports. It was followed by the United States, with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany amounted to +21.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (+26.8% per year) and the United States (-3.8% per year).

Export Prices by Country

The average cyclic hydrocarbons export price stood at $X per ton in 2021, waning by -17.5% against the previous year. Overall, the export price showed a perceptible contraction. The most prominent rate of growth was recorded in 2014 when the average export price increased by 47%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Iran ($X per ton), while the average price for exports to Sudan ($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 Iran (+19.9%), while the prices for the other major destinations experienced more modest paces of growth.

Cyclic Hydrocarbons Imports

Imports into the United Arab Emirates

In 2021, the amount of other cyclic hydrocarbons imported into the United Arab Emirates soared to X tons, jumping by 118% compared with the previous year's figure. Over the period under review, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 233%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, cyclic hydrocarbons imports surged to $X in 2021. Overall, imports posted a strong increase. The growth pace was the most rapid in 2013 with an increase of 219% against the previous year. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Iran (X tons) was the main cyclic hydrocarbons supplier to the United Arab Emirates, accounting for a approx. 99% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from Iran totaled +31.2%.

In value terms, Iran ($X) constituted the largest supplier of other cyclic hydrocarbons to the United Arab Emirates.

From 2012 to 2021, the average annual growth rate of value from Iran stood at +17.5%.

Import Prices by Country

The average cyclic hydrocarbons import price stood at $X per ton in 2021, growing by 18% against the previous year. Overall, the import price, however, continues to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2020 when the average import price increased by 22%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Iran.

From 2012 to 2021, the rate of growth in terms of prices for Iran amounted to -10.4% per year.

Source: IndexBox Platform

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