United Arab Emirates: Market for Processed Petroleum Oils and Distillates 2024

Market Size for Processed Petroleum Oils and Distillates in the United Arab Emirates

In 2022, after five years of decline, there was growth in the market for processed petroleum oils and distillates in the United Arab Emirates, when its value increased by X% to $X. In general, consumption, however, recorded a deep setback. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Production of Processed Petroleum Oils and Distillates in the United Arab Emirates

In value terms, processed petroleum oils and distillates production contracted to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the production volume increased by X% against the previous year. Processed petroleum oils and distillates production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

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Exports of Processed Petroleum Oils and Distillates

Exports from the United Arab Emirates

In 2022, exports of processed petroleum oils and distillates from the United Arab Emirates reduced remarkably to X tons, declining by X% compared with the year before. Over the period under review, exports, however, enjoyed a resilient expansion. The pace of growth was the most pronounced in 2021 when exports increased by X%. As a result, the exports reached the peak of X tons, and then contracted dramatically in the following year.

In value terms, processed petroleum oils and distillates exports contracted rapidly to $X in 2022. Overall, exports, however, saw a moderate increase. The growth pace was the most rapid in 2021 with an increase of X%. As a result, the exports reached the peak of $X, and then declined markedly in the following year.

Exports by Country

Singapore (X tons), South Korea (X tons) and Pakistan (X tons) were the main destinations of processed petroleum oils and distillates exports from the United Arab Emirates, with a combined X% share of total exports. China, Japan, Taiwan (Chinese), South Africa, Kenya, India, Mozambique, the UK, Thailand and Tanzania lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Singapore ($X) and Pakistan ($X) constituted the largest markets for processed petroleum oils and distillates exported from the United Arab Emirates worldwide, together comprising X% of total exports. Japan, South Africa, Kenya, Taiwan (Chinese), the UK, China, India, Tanzania, Thailand and Mozambique lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, China, with a CAGR of X%, recorded the highest rates of growth with regard to 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 average export price for processed petroleum oils and distillates stood at $X per ton in 2022, approximately reflecting the previous year. Over the period under review, the export price, however, recorded a abrupt setback. The growth pace was the most rapid in 2018 when the average export price increased by X% against the previous year. The export price 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 destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Mozambique ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kenya (X%), while the prices for the other major destinations experienced a decline.

Imports of Processed Petroleum Oils and Distillates

Imports into the United Arab Emirates

In 2022, after two years of growth, there was significant decline in supplies from abroad of processed petroleum oils and distillates, when their volume decreased by X% to X tons. In general, imports, however, continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons, and then declined sharply in the following year.

In value terms, processed petroleum oils and distillates imports reduced dramatically to $X in 2022. Overall, imports saw a perceptible decrease. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of $X, and then declined sharply in the following year.

Imports by Country

In 2022, India (X tons) constituted the largest supplier of processed petroleum oils and distillates to the United Arab Emirates, with a X% share of total imports. Moreover, processed petroleum oils and distillates imports from India exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), ninefold. Turkey (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from India stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and Turkey (X% per year).

In value terms, India ($X) constituted the largest supplier of processed petroleum oils and distillates to the United Arab Emirates, comprising X% of total imports. The second position in the ranking was held by Malaysia ($X), with a X% share of total imports. It was followed by Singapore, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from India amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and Singapore (X% per year).

Import Prices by Country

In 2022, the average import price for processed petroleum oils and distillates amounted to $X per ton, which is down by X% against the previous year. Over the period under review, the import price continues to indicate a drastic downturn. The growth pace was the most rapid in 2017 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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