Middle East: Aromatic Hydrocarbon Mixtures Market 2024

Aromatic Hydrocarbon Mixtures Market Size in the Middle East

In 2022, the Middle Eastern aromatic hydrocarbon mixtures market decreased by X% to $X, falling for the second year in a row after two years of growth. Overall, consumption continues to indicate a mild decrease. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Aromatic Hydrocarbon Mixtures Production in the Middle East

In value terms, aromatic hydrocarbon mixtures production rose remarkably to $X in 2022 estimated in export price. Overall, production posted prominent growth. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Aromatic Hydrocarbon Mixtures Exports

Exports in the Middle East

For the fourth consecutive year, the Middle East recorded growth in shipments abroad of naphthalene and other aromatic hydrocarbon mixtures, which increased by X% to X tons in 2022. In general, exports saw a strong expansion. The most prominent rate of growth was recorded in 2013 when exports increased by X%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, aromatic hydrocarbon mixtures exports soared to $X in 2022. Over the period under review, exports recorded a remarkable increase. The pace of growth was the most pronounced in 2013 when exports increased by X%. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Yemen was the major exporting country with an export of around X tons, which finished at X% of total exports. Turkey (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Iran (X%). Saudi Arabia (X tons) held a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to aromatic hydrocarbon mixtures exports from Yemen stood at X%. At the same time, Turkey (X%) and Iran (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. By contrast, Saudi Arabia (X%) illustrated a downward trend over the same period. While the share of Yemen (X p.p.), Turkey (X p.p.) and Iran (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Saudi Arabia (X p.p.) displayed negative dynamics.

In value terms, Yemen ($X), Turkey ($X) and Iran ($X) were the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

Turkey, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of 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, with an increase of X% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible decline. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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

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

Aromatic Hydrocarbon Mixtures Imports

Imports in the Middle East

In 2022, supplies from abroad of naphthalene and other aromatic hydrocarbon mixtures decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports recorded a mild shrinkage. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, aromatic hydrocarbon mixtures imports declined notably to $X in 2022. In general, imports showed a abrupt decline. The growth pace was the most rapid in 2021 when imports increased by X%. As a result, imports attained the peak of $X, and then dropped sharply in the following year.

Imports by Country

The United Arab Emirates prevails in imports structure, finishing at X tons, which was approx. X% of total imports in 2022. It was distantly followed by Turkey (X tons), Saudi Arabia (X tons) and Iraq (X tons), together making up a X% share of total imports. Kuwait (X tons) held a relatively small share of total imports.

Imports into the United Arab Emirates increased at an average annual rate of X% from 2012 to 2022. At the same time, Iraq (X%), Saudi Arabia (X%), Kuwait (X%) and Turkey (X%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of the United Arab Emirates, Saudi Arabia, Iraq, Turkey and Kuwait 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, the United Arab Emirates ($X) constitutes the largest market for imported naphthalene and other aromatic hydrocarbon mixtures in the Middle East, comprising X% of total imports. The second position in the ranking was held by Turkey ($X), with a X% share of total imports. It was followed by Saudi Arabia, with a X% share.

In the United Arab Emirates, aromatic hydrocarbon mixtures imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Turkey (X% per year) and Saudi Arabia (X% per year).

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. Overall, the import price, however, continues to indicate a pronounced slump. The pace of growth appeared the most rapid in 2018 when the import price increased by X%. The level of import peaked at $X per ton in 2012; however, from 2013 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 Kuwait ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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