Middle East: Propene Market 2024

Propene Market Size in the Middle East

The Middle Eastern propene market amounted to $X in 2022, surging by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2020; afterwards, it flattened through to 2022.

Propene Production in the Middle East

In value terms, propene production expanded modestly to $X in 2022 estimated in export price. The total production indicated measured growth 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 2020 indices. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Propene Exports

Exports in the Middle East

In 2022, propene exports in the Middle East declined significantly to X tons, falling by X% against 2021 figures. Overall, exports saw a deep contraction. The pace of growth appeared the most rapid in 2018 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, propene exports declined sharply to $X in 2022. Over the period under review, exports continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Saudi Arabia prevails in exports structure, finishing at X tons, which was approx. X% of total exports in 2022. Turkey (X tons) took the second position in the ranking, followed by Iraq (X tons). All these countries together held approx. X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to propene exports from Saudi Arabia stood at X%. At the same time, Iraq (X%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2022. Turkey experienced a relatively flat trend pattern. From 2012 to 2022, the share of Iraq and Turkey increased by X and X percentage points, respectively.

In value terms, Saudi Arabia ($X) remains the largest propene supplier in the Middle East, comprising X% of total exports. The second position in the ranking was taken by Turkey ($X), with a X% share of total exports.

In Saudi Arabia, propene exports plunged by an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (X% per year) and Iraq (X% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, rising by X% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of X%. Over the period under review, the export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while Iraq ($X per ton) was amongst the lowest.

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

Propene Imports

Imports in the Middle East

In 2022, purchases abroad of propene (propylene) decreased by X% to X tons, falling for the third year in a row after three years of growth. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when imports increased by X%. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, propene imports shrank sharply to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when imports increased by X%. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

Turkey was the major importer of propene (propylene) in the Middle East, with the volume of imports recording X tons, which was approx. X% of total imports in 2022. Israel (X tons) ranks second in terms of the total imports with an X% share, followed by Iran (X%) and the United Arab Emirates (X%). Iraq (X tons) took a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to propene imports into Turkey stood at X%. At the same time, the United Arab Emirates (X%), Iraq (X%) and Israel (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2022. By contrast, Iran (X%) illustrated a downward trend over the same period. While the share of Turkey (X p.p.), Israel (X p.p.) and the United Arab Emirates (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Iran (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

The United Arab Emirates, with a CAGR of X%, saw 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

In 2022, the import price in the Middle East amounted to $X per ton, with a decrease of X% against the previous year. Overall, the import price continues to indicate a slight decrease. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. Over the period under review, import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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