Middle East: Alkyd Resins Market 2024

Alkyd Resins Market Size in the Middle East

The Middle Eastern alkyd resins market shrank to $X in 2022, waning by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Alkyd Resins Production in the Middle East

In value terms, alkyd resins production plummeted to $X in 2022 estimated in export price. In general, production, however, enjoyed buoyant growth. The pace of growth was the most pronounced in 2019 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

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Alkyd Resins Exports

Exports in the Middle East

In 2022, approx. X tons of alkyd resins in primary forms were exported in the Middle East; with an increase of X% compared with the previous year. Over the period under review, exports recorded strong growth. The pace of growth appeared the most rapid in 2021 with an increase of X%. The volume of export peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, alkyd resins exports surged to $X in 2022. In general, exports recorded a buoyant expansion. The pace of growth appeared the most rapid in 2021 when exports increased by X%. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

The United Arab Emirates (X tons) and Turkey (X tons) dominates exports structure, together creating X% of total exports. It was distantly followed by Saudi Arabia (X tons), comprising a X% share of total exports. Iran (X tons) and Jordan (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest alkyd resins supplying countries in the Middle East were Turkey ($X), the United Arab Emirates ($X) and Saudi Arabia ($X), with a combined X% share of total exports.

The United Arab Emirates, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, rising by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Jordan ($X per ton), while Iran ($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 more modest paces of growth.

Alkyd Resins Imports

Imports in the Middle East

In 2022, alkyd resins imports in the Middle East dropped to X tons, reducing by X% compared with the previous year. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2013 when imports increased by X%. The volume of import peaked at X tons in 2021, and then declined in the following year.

In value terms, alkyd resins imports expanded to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of X%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Iraq (X tons), distantly followed by Saudi Arabia (X tons), the United Arab Emirates (X tons), Yemen (X tons), Turkey (X tons), Oman (X tons), Lebanon (X tons) and Syrian Arab Republic (X tons) were the key importers of alkyd resins in primary forms, together committing X% of total imports. Jordan (X tons) held a relatively small share of total imports.

Iraq was also the fastest-growing in terms of the alkyd resins in primary forms imports, with a CAGR of X% from 2012 to 2022. At the same time, Syrian Arab Republic (X%), Saudi Arabia (X%), Oman (X%) and Turkey (X%) displayed positive paces of growth. By contrast, Jordan (X%), the United Arab Emirates (X%), Yemen (X%) and Lebanon (X%) illustrated a downward trend over the same period. Iraq (X p.p.), Saudi Arabia (X p.p.) and Syrian Arab Republic (X p.p.) significantly strengthened its position in terms of the total imports, while Turkey, Jordan, Yemen, the United Arab Emirates and Lebanon saw its share reduced by X%, X%, X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest alkyd resins importing markets in the Middle East were Iraq ($X), Saudi Arabia ($X) and Turkey ($X), with a combined X% share of total imports. Oman, Yemen, the United Arab Emirates, Lebanon, Jordan and Syrian Arab Republic lagged somewhat behind, together accounting for a further X%.

Syrian Arab Republic, with a CAGR of X%, recorded the highest growth rate of 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 the Middle East amounted to $X per ton, jumping by X% against the previous year. Overall, the import price, however, continues to indicate a mild downturn. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Oman ($X per ton), while Iraq ($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 more modest paces of growth.

Source: IndexBox Platform