Middle East: Market for Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol) 2024

Market Size for Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol) in the Middle East

The Middle Eastern propyl and isopropyl alcohol market expanded to $X in 2022, increasing by 3.2% against the previous year. In general, consumption, however, continues to indicate a slight decline. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol) in the Middle East

In value terms, propyl and isopropyl alcohol production skyrocketed to $X in 2022 estimated in export price. In general, production, however, saw a noticeable slump. The pace of growth appeared the most rapid in 2018 when the production volume increased by 66% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

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Exports of Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol)

Exports in the Middle East

In 2022, the amount of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) exported in the Middle East surged to X tons, rising by 29% on 2021 figures. Over the period under review, exports recorded a prominent increase. The most prominent rate of growth was recorded in 2017 with an increase of 95%. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, propyl and isopropyl alcohol exports surged to $X in 2022. In general, exports saw a resilient expansion. The pace of growth appeared the most rapid in 2017 with an increase of 144%. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Turkey was the main exporter of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) in the Middle East, with the volume of exports amounting to X tons, which was approx. 72% of total exports in 2022. It was distantly followed by the United Arab Emirates (X tons), comprising a 23% share of total exports. Israel (X tons) followed a long way behind the leaders.

Turkey was also the fastest-growing in terms of the propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) exports, with a CAGR of +16.6% from 2012 to 2022. At the same time, the United Arab Emirates (+10.5%) displayed positive paces of growth. By contrast, Israel (-14.7%) illustrated a downward trend over the same period. While the share of Turkey (+26 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (-2.3 p.p.) and Israel (-21.7 p.p.) displayed negative dynamics.

In value terms, Turkey ($X) remains the largest propyl and isopropyl alcohol supplier in the Middle East, comprising 72% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 21% share of total exports.

In Turkey, propyl and isopropyl alcohol exports increased at an average annual rate of +16.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (+7.9% per year) and Israel (-13.6% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, surging by 10% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the export price increased by 25%. Over the period under review, the export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Israel ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+1.3%), while the other leaders experienced a decline in the export price figures.

Imports of Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol)

Imports in the Middle East

In 2022, the amount of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) imported in the Middle East rose notably to X tons, surging by 8% on 2021. The total import volume increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when imports increased by 23% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, propyl and isopropyl alcohol imports expanded rapidly to $X in 2022. Total imports indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -10.3% against 2020 indices. The pace of growth appeared the most rapid in 2017 when imports increased by 50% against the previous year. The level of import peaked at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Turkey (X tons) and the United Arab Emirates (X tons) were the largest importers of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) in the Middle East, together amounting to approx. 73% of total imports. It was distantly followed by Israel (X tons), creating a 19% share of total imports. Iran (X tons) and Oman (X tons) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by the United Arab Emirates (with a CAGR of +7.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest propyl and isopropyl alcohol importing markets in the Middle East were Turkey ($X), the United Arab Emirates ($X) and Israel ($X), with a combined 90% share of total imports.

The United Arab Emirates, with a CAGR of +6.0%, recorded the highest growth rate of 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, almost unchanged from the previous year. In general, the import price, however, saw a slight downturn. The most prominent rate of growth was recorded in 2017 when the import price increased by 33% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+0.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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