United Arab Emirates: Polyphenols And Phenol-Alcohols Market 2024

Polyphenols And Phenol-Alcohols Market Size in the United Arab Emirates

The polyphenols and phenol-alcohols market in the United Arab Emirates expanded remarkably to $X in 2022, increasing by 9.4% against the previous year. Over the period under review, consumption enjoyed a buoyant expansion. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Polyphenols And Phenol-Alcohols Production in the United Arab Emirates

In value terms, polyphenols and phenol-alcohols production dropped markedly to $X in 2022 estimated in export price. In general, production recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 41%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Polyphenols And Phenol-Alcohols Exports

Exports from the United Arab Emirates

In 2022, after three years of decline, there was significant growth in shipments abroad of polyphenols and phenol-alcohols, when their volume increased by 30% to X tons. Over the period under review, exports, however, faced a abrupt curtailment. The pace of growth was the most pronounced in 2017 when exports increased by 344% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, polyphenols and phenol-alcohols exports rose significantly to $X in 2022. Overall, exports, however, recorded a deep slump. The growth pace was the most rapid in 2017 when exports increased by 235% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Iran (X tons) was the main destination for polyphenols and phenol-alcohols exports from the United Arab Emirates, with a 44% share of total exports. Moreover, polyphenols and phenol-alcohols exports to Iran exceeded the volume sent to the second major destination, Iraq (X tons), twofold. Togo (X kg) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Iran amounted to -19.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iraq (-15.9% per year) and Togo (-22.0% per year).

In value terms, Iran ($X) remains the key foreign market for polyphenols and phenol-alcohols exports from the United Arab Emirates, comprising 45% of total exports. The second position in the ranking was held by Algeria ($X), with an 18% share of total exports. It was followed by Togo, with a 15% share.

From 2012 to 2022, the average annual growth rate of value to Iran totaled -19.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Algeria (+11.5% per year) and Togo (-26.4% per year).

Export Prices by Country

The average polyphenols and phenol-alcohols export price stood at $X per ton in 2022, dropping by -14.4% against the previous year. Overall, the export price saw a slight descent. The most prominent rate of growth was recorded in 2021 an increase of 35% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Algeria ($X per ton), while the average price for exports to Iraq ($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 Free Zones (+47.6%), while the prices for the other major destinations experienced more modest paces of growth.

Polyphenols And Phenol-Alcohols Imports

Imports into the United Arab Emirates

In 2022, purchases abroad of polyphenols and phenol-alcohols increased by 26% to X tons, rising for the fourth consecutive year after five years of decline. Overall, imports saw a prominent increase. The pace of growth appeared the most rapid in 2013 when imports increased by 485% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, polyphenols and phenol-alcohols imports surged to $X in 2022. Over the period under review, imports recorded significant growth. The pace of growth was the most pronounced in 2013 when imports increased by 465% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of polyphenols and phenol-alcohols to the United Arab Emirates, with a 43% share of total imports. Moreover, polyphenols and phenol-alcohols imports from the United States exceeded the figures recorded by the second-largest supplier, South Korea (X tons), twofold. The third position in this ranking was taken by China (X tons), with a 15% share.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at +36.7%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+27.4% per year) and China (+21.2% per year).

In value terms, the United States ($X), China ($X) and Japan ($X) constituted the largest polyphenols and phenol-alcohols suppliers to the United Arab Emirates, together comprising 69% of total imports. South Korea, India, the Czech Republic and Spain lagged somewhat behind, together comprising a further 28%.

Spain, with a CAGR of +142.2%, recorded the highest rates of growth with regard to 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 polyphenols and phenol-alcohols import price stood at $X per ton in 2022, shrinking by -6.5% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 41% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

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 Japan ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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