MENA: Phenols Market 2024

Phenols Market Size in MENA

The MENA's phenols market expanded markedly to $X in 2023, with an increase of X% against the previous year. The total consumption indicated buoyant growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market remained at a lower figure.

Phenols Production in MENA

In value terms, phenols production amounted to $X in 2023 estimated in export price. The total production indicated a tangible increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2021 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2022 to 2023, production growth remained at a somewhat lower figure.

Phenols Exports

Exports in MENA

Phenols exports contracted slightly to X tons in 2023, standing approx. at the year before. In general, exports, however, showed a strong increase. The pace of growth appeared the most rapid in 2021 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2022 to 2023, the growth of the exports remained at a lower figure.

In value terms, phenols exports declined sharply to $X in 2023. Overall, exports, however, saw perceptible growth. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. The level of export peaked at $X in 2022, and then fell rapidly in the following year.

Exports by Country

In 2023, Saudi Arabia (X tons) was the major exporter of phenols, generating X% of total exports. Jordan (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Israel (X%).

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Saudi Arabia (with a CAGR of X%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Jordan ($X), Saudi Arabia ($X) and Israel ($X) were the countries with the highest levels of exports in 2023, together accounting for X% of total exports.

Saudi Arabia, 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 mixed trends in the exports figures.

Export Prices by Country

The export price in MENA stood at $X per ton in 2023, reducing by X% against the previous year. Over the period under review, the export price continues to indicate a noticeable reduction. The pace of growth appeared the most rapid in 2022 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then contracted significantly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Israel ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2023, 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.

Phenols Imports

Imports in MENA

In 2023, approx. X tons of phenols were imported in MENA; with a decrease of X% against the previous year's figure. Total imports indicated a mild expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

In value terms, phenols imports fell remarkably to $X in 2023. In general, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports remained at a lower figure.

Imports by Country

Turkey represented the largest importer of phenols in MENA, with the volume of imports recording X tons, which was near X% of total imports in 2023. Jordan (X tons) ranks second in terms of the total imports with a X% share, followed by the United Arab Emirates (X%), Iran (X%), Saudi Arabia (X%) and Israel (X%). Egypt (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Jordan (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

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

In terms of the main importing countries, Jordan, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in MENA amounted to $X per ton, shrinking by X% against the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of X% against the previous year. The level of import peaked at $X per ton in 2022, and then dropped in the following year.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform