Middle East: Chemically Modified Oils Market 2024

Chemically Modified Oils Market Size in the Middle East

The Middle Eastern chemically modified oils market amounted to $X in 2022, rising by X% against the previous year. The total consumption indicated a strong expansion from 2012 to 2022: its value 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, consumption decreased by X% against 2019 indices. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Chemically Modified Oils Production in the Middle East

In value terms, chemically modified oils production dropped slightly to $X in 2022 estimated in export price. The total production indicated a buoyant increase from 2012 to 2022: its value 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, production decreased by X% against 2019 indices. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

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Chemically Modified Oils Exports

Exports in the Middle East

Chemically modified oils exports shrank significantly to X tons in 2022, waning by X% compared with 2021 figures. Overall, exports, however, recorded a strong increase. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, chemically modified oils exports shrank rapidly to $X in 2022. In general, exports, however, showed prominent growth. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The level of export peaked at $X in 2021, and then reduced notably in the following year.

Exports by Country

Saudi Arabia represented the largest exporting country with an export of around X tons, which finished at X% of total exports. The United Arab Emirates (X tons) ranks second in terms of the total exports with an X% share, followed by Qatar (X%), Kuwait (X%) and Turkey (X%). The following exporters - Lebanon (X tons) and Israel (X tons) - each finished at an 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, Israel (X%), the United Arab Emirates (X%), Qatar (X%), Kuwait (X%), Turkey (X%) and Lebanon (X%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Saudi Arabia, the United Arab Emirates, Kuwait, Israel and Qatar increased by X, X, X, X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Turkey ($X) constituted the countries with the highest levels of exports in 2022, with a combined X% share of total exports. Qatar, Kuwait, Israel and Lebanon lagged somewhat behind, together accounting for a further X%.

In terms of the main exporting countries, Israel, with a CAGR of X%, recorded the highest growth rate of the value of exports, 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, approximately equating the previous year. Export price indicated a temperate increase from 2012 to 2022: its price 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, chemically modified oils export price increased by X% against 2017 indices. The pace of growth was the most pronounced in 2021 an increase of X%. As a result, the export price reached the peak level of $X per ton, leveling off in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (X%), while the other leaders experienced more modest paces of growth.

Chemically Modified Oils Imports

Imports in the Middle East

Chemically modified oils imports stood at X tons in 2022, approximately reflecting the previous year's figure. Total imports indicated a modest increase 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 2020 indices. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, chemically modified oils imports skyrocketed to $X in 2022. Total imports indicated a mild increase from 2012 to 2022: its value 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 2020 indices. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates was the largest importing country with an import of about X tons, which accounted for X% of total imports. Turkey (X tons) took the second position in the ranking, followed by Palestine (X tons) and Israel (X tons). All these countries together held near X% share of total imports. The following importers - Iraq (X tons), Iran (X tons) and Qatar (X tons) - each finished at a X% share of total imports.

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 more modest paces of growth.

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

The United Arab Emirates, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among 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

The import price in the Middle East stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iraq (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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