Middle East: Acetone Market 2024

Acetone Market Size in the Middle East

The Middle Eastern acetone market surged to $X in 2022, rising by X% against the previous year. Overall, consumption recorded a relatively flat trend pattern. Over the period under review, the market hit record highs in 2022 and is likely to see steady growth in the near future.

Acetone Production in the Middle East

In value terms, acetone production dropped to $X in 2022 estimated in export price. Over the period under review, production, however, recorded prominent growth. The pace of growth appeared the most rapid in 2018 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2021, and then shrank in the following year.

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Acetone Exports

Exports in the Middle East

Acetone exports shrank remarkably to X tons in 2022, with a decrease of X% compared with the previous year. Overall, exports, however, recorded resilient growth. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then shrank sharply in the following year.

In value terms, acetone exports shrank sharply to $X in 2022. In general, exports, however, recorded a strong increase. The pace of growth was the most pronounced in 2017 with an increase of X%. The level of export peaked at $X in 2021, and then shrank rapidly in the following year.

Exports by Country

Saudi Arabia prevails in exports structure, accounting for X tons, which was near X% of total exports in 2022. The following exporters - the United Arab Emirates (X tons) and Turkey (X tons) - each amounted to a X% share of total exports.

Exports from Saudi Arabia increased at an average annual rate of X% from 2012 to 2022. At the same time, Turkey (X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2022. The United Arab Emirates experienced a relatively flat trend pattern. From 2012 to 2022, the share of Saudi Arabia increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest acetone supplier in the Middle East, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total exports.

In Saudi Arabia, acetone exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Turkey (X% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, waning by X% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of X%. Over the period under review, the export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

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

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

Acetone Imports

Imports in the Middle East

Acetone imports shrank slightly to X tons in 2022, remaining constant against the previous year. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of X tons, leveling off in the following year.

In value terms, acetone imports fell sharply to $X in 2022. Overall, imports showed a noticeable reduction. The pace of growth was the most pronounced in 2021 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Turkey was the main importer of acetone in the Middle East, with the volume of imports recording X tons, which was near X% of total imports in 2022. The United Arab Emirates (X tons) ranks second in terms of the total imports with a X% share, followed by Israel (X%) and Iran (X%). Jordan (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of X%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest acetone importing markets in the Middle East were Turkey ($X), the United Arab Emirates ($X) and Iran ($X), with a combined X% share of total imports.

In terms of the main importing countries, the United Arab Emirates, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, shrinking by X% against the previous year. In general, the import price recorded a perceptible contraction. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 Iran ($X per ton), while Turkey ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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