MENA: Market for Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol) 2024

Market Size for Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol) in MENA

The MENA's propyl and isopropyl alcohol market rose modestly to $X in 2022, surging by 1.9% against the previous year. In general, consumption, however, recorded a mild downturn. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol) in MENA

In value terms, propyl and isopropyl alcohol production rose sharply to $X in 2022 estimated in export price. Overall, production, however, showed a slight downturn. The pace of growth was the most pronounced in 2018 when the production volume increased by 29%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Exports of Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol)

Exports in MENA

In 2022, the amount of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) exported in MENA surged to X tons, rising by 28% on 2021. In general, exports saw a prominent increase. The most prominent rate of growth was recorded in 2017 with an increase of 112% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, propyl and isopropyl alcohol exports surged to $X in 2022. Over the period under review, exports continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 154% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Turkey (X tons) represented the main exporter of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol), creating 72% of total exports. It was distantly followed by the United Arab Emirates (X tons), comprising a 23% share of total exports. Israel (X tons) took a minor share of total exports.

Turkey was also the fastest-growing in terms of the propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) exports, with a CAGR of +16.6% from 2012 to 2022. At the same time, the United Arab Emirates (+10.5%) displayed positive paces of growth. By contrast, Israel (-14.7%) illustrated a downward trend over the same period. While the share of Turkey (+30 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Israel (-19.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest propyl and isopropyl alcohol supplier in MENA, comprising 72% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 21% share of total exports.

In Turkey, propyl and isopropyl alcohol exports increased at an average annual rate of +16.4% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (+7.9% per year) and Israel (-13.6% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, with an increase of 9.9% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 20%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Israel ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+1.3%), while the other leaders experienced a decline in the export price figures.

Imports of Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol)

Imports in MENA

In 2022, the amount of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) imported in MENA expanded notably to X tons, surging by 6.1% on the previous year's figure. The total import volume increased at an average annual rate of +2.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 when imports increased by 24% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, propyl and isopropyl alcohol imports expanded rapidly to $X in 2022. Total imports indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -14.1% against 2020 indices. The growth pace was the most rapid in 2020 when imports increased by 49%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Turkey (X tons) and the United Arab Emirates (X tons) were the largest importers of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) in 2022, recording near 37% and 32% of total imports, respectively. It was distantly followed by Israel (X tons), making up an 18% share of total imports. The following importers - Iran (X tons) and Egypt (X tons) - each recorded a 5.2% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +7.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest propyl and isopropyl alcohol importing markets in MENA were Turkey ($X), the United Arab Emirates ($X) and Israel ($X), with a combined 83% share of total imports.

The United Arab Emirates, with a CAGR of +6.0%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in MENA amounted to $X per ton, therefore, remained relatively stable against the previous year. Over the period under review, the import price, however, showed a slight curtailment. The most prominent rate of growth was recorded in 2017 an increase of 32%. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Egypt ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+0.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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