Middle East: Cyclic Hydrocarbons Market 2024

Cyclic Hydrocarbons Market Size in the Middle East

The Middle Eastern cyclic hydrocarbons market shrank remarkably to $X in 2022, which is down by X% against the previous year. Overall, consumption, however, saw a temperate increase. The level of consumption peaked at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Cyclic Hydrocarbons Production in the Middle East

In value terms, cyclic hydrocarbons production totaled $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of X%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

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Cyclic Hydrocarbons Exports

Exports in the Middle East

In 2022, exports of other cyclic hydrocarbons in the Middle East reduced notably to X tons, with a decrease of X% on the year before. Overall, exports continue to indicate a abrupt decline. The pace of growth was the most pronounced in 2021 when exports increased by X%. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, cyclic hydrocarbons exports dropped notably to $X in 2022. Over the period under review, exports faced a abrupt contraction. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia dominates exports structure, reaching X tons, which was approx. X% of total exports in 2022. It was distantly followed by Israel (X tons), creating a X% share of total exports. The United Arab Emirates (X tons) and Iran (X tons) took a relatively small share of total exports.

Saudi Arabia was also the fastest-growing in terms of the other cyclic hydrocarbons exports, with a CAGR of X% from 2012 to 2022. The United Arab Emirates (X%), Iran (X%) and Israel (X%) illustrated a downward trend over the same period. While the share of Saudi Arabia (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Iran (X p.p.) and Israel (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In terms of the main exporting countries, Saudi Arabia, 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 a decline in the exports figures.

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, waning by X% against the previous year. In general, the export price showed a noticeable shrinkage. The most prominent rate of growth was recorded in 2017 an increase of X%. Over the period under review, the export prices hit record highs at $X per ton in 2021, and then contracted notably in the following year.

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 Israel ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

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

Cyclic Hydrocarbons Imports

Imports in the Middle East

In 2022, the amount of other cyclic hydrocarbons imported in the Middle East contracted dramatically to X tons, with a decrease of X% on 2021 figures. In general, imports saw a perceptible reduction. The pace of growth appeared the most rapid in 2015 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, cyclic hydrocarbons imports contracted significantly to $X in 2022. Over the period under review, imports continue to indicate a pronounced slump. The pace of growth was the most pronounced in 2015 with an increase of X%. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Iraq represented the key importer of other cyclic hydrocarbons in the Middle East, with the volume of imports finishing at X tons, which was approx. X% of total imports in 2022. Turkey (X tons) ranks second in terms of the total imports with a X% share, followed by Saudi Arabia (X%). The following importers - Kuwait (X tons) and the United Arab Emirates (X tons) - each amounted to a X% share of total imports.

Imports into Iraq increased at an average annual rate of X% from 2012 to 2022. At the same time, Kuwait (X%), Turkey (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported 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. Iraq (X p.p.), Turkey (X p.p.) and Kuwait (X p.p.) significantly strengthened its position in terms of the total imports, while Saudi Arabia saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest cyclic hydrocarbons importing markets in the Middle East were Turkey ($X), Iraq ($X) and Saudi Arabia ($X), together accounting for X% of total imports.

In terms of the main importing countries, Turkey, with a CAGR of X%, recorded the highest growth rate of 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 2022, the import price in the Middle East amounted to $X per ton, with an increase of X% against the previous year. Overall, the import price, however, continues to indicate a slight setback. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 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 the United Arab Emirates ($X per ton), while Iraq ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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