MENA: Derivatives Of Hydrocarbons Market 2024

Derivatives Of Hydrocarbons Market Size in MENA

The MENA's derivatives of hydrocarbons market declined to $X in 2022, with a decrease of X% against the previous year. Over the period under review, consumption saw a sharp decrease. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Derivatives Of Hydrocarbons Production in MENA

In value terms, derivatives of hydrocarbons production reduced to $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of X%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Derivatives Of Hydrocarbons Exports

Exports in MENA

For the fifth year in a row, MENA recorded growth in shipments abroad of derivatives of hydrocarbons other than containing only sulpho-, nitro-, or nitroso groups, which increased by X% to X tons in 2022. Over the period under review, exports continue to indicate significant growth. The growth pace was the most rapid in 2018 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the near future.

In value terms, derivatives of hydrocarbons exports stood at $X in 2022. In general, exports saw significant growth. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in years to come.

Exports by Country

The shipments of the one major exporters of derivatives of hydrocarbons other than containing only sulpho-, nitro-, or nitroso groups, namely Kuwait, represented more than two-thirds of total export.

Kuwait was also the fastest-growing in terms of the derivatives of hydrocarbons other than containing only sulpho-, nitro-, or nitroso groups exports, with a CAGR of X% from 2012 to 2022. Kuwait (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Kuwait ($X) also remains the largest derivatives of hydrocarbons supplier in MENA.

In Kuwait, derivatives of hydrocarbons exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, standing approx. at the previous year. In general, the export price, however, recorded a noticeable slump. The most prominent rate of growth was recorded in 2017 when the export price increased by X%. Over the period under review, the export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Kuwait.

From 2012 to 2022, the rate of growth in terms of prices for Kuwait amounted to X% per year.

Derivatives Of Hydrocarbons Imports

Imports in MENA

After two years of growth, purchases abroad of derivatives of hydrocarbons other than containing only sulpho-, nitro-, or nitroso groups decreased by X% to X tons in 2022. Total imports indicated a pronounced expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2018 indices. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2021, and then declined slightly in the following year.

In value terms, derivatives of hydrocarbons imports stood at $X in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by X%. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Turkey represented the largest importer of derivatives of hydrocarbons other than containing only sulpho-, nitro-, or nitroso groups in MENA, with the volume of imports accounting for X tons, which was approx. X% of total imports in 2022. Israel (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Syrian Arab Republic (X%) and the United Arab Emirates (X%). Libya (X tons) held a minor share of total imports.

Imports into Turkey increased at an average annual rate of X% from 2012 to 2022. At the same time, Libya (X%), Syrian Arab Republic (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Libya emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2022. By contrast, Israel (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey, Syrian Arab Republic, the United Arab Emirates and Libya increased by X, X, X and X percentage points, respectively.

In value terms, Turkey ($X) constitutes the largest market for imported derivatives of hydrocarbons other than containing only sulpho-, nitro-, or nitroso groups in MENA, comprising X% of total imports. The second position in the ranking was taken by Israel ($X), with a X% share of total imports. It was followed by the United Arab Emirates, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Israel (X% per year) and the United Arab Emirates (X% per year).

Import Prices by Country

In 2022, the import price in MENA amounted to $X per ton, with an increase of X% against the previous year. In general, the import price, however, showed a perceptible decline. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Israel ($X per ton), while Syrian Arab Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Syrian Arab Republic (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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