Middle East: Cyclic Hydrocarbons Market 2024

Cyclic Hydrocarbons Market Size in the Middle East

In 2022, the Middle Eastern cyclic hydrocarbons market increased by X% to $X, rising for the second consecutive year after two years of decline. 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 throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Cyclic Hydrocarbons Production in the Middle East

In value terms, cyclic hydrocarbons production shrank to $X in 2022 estimated in export price. In general, production showed a pronounced slump. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Cyclic Hydrocarbons Exports

Exports in the Middle East

In 2022, the amount of cyclic hydrocarbons exported in the Middle East shrank to X tons, dropping by X% compared with 2021 figures. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, cyclic hydrocarbons exports reduced remarkably to $X in 2022. Overall, exports recorded a pronounced curtailment. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Saudi Arabia was the key exporter of cyclic hydrocarbons in the Middle East, with the volume of exports reaching X tons, which was approx. X% of total exports in 2022. Iran (X tons) held the second position in the ranking, distantly followed by Israel (X tons) and Oman (X tons). All these countries together held near X% share of total exports. The United Arab Emirates (X tons) took a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to cyclic hydrocarbons exports from Saudi Arabia stood at X%. At the same time, the United Arab Emirates (X%) and Iran (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2022. By contrast, Israel (X%) and Oman (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Saudi Arabia and the United Arab Emirates increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest cyclic hydrocarbons supplier in the Middle East, comprising X% of total exports. The second position in the ranking was held by Iran ($X), with a X% share of total exports. It was followed by Israel, with a X% share.

In Saudi Arabia, cyclic hydrocarbons exports remained relatively stable over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Iran (X% per year) and Israel (X% per year).

Export Prices by Country

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

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 the United Arab Emirates ($X per ton), while Iran ($X per ton) was amongst the lowest.

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

Cyclic Hydrocarbons Imports

Imports in the Middle East

In 2022, purchases abroad of cyclic hydrocarbons increased by X% to X tons, rising for the second year in a row after two years of decline. Total imports indicated a buoyant increase from 2012 to 2022: its volume 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, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2014 when imports increased by X%. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, cyclic hydrocarbons imports expanded notably to $X in 2022. Total imports indicated pronounced 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, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2018; afterwards, it flattened through to 2022.

Imports by Country

In 2022, Turkey (X tons) and Saudi Arabia (X tons) represented the major importers of cyclic hydrocarbons in the Middle East, together resulting at near X% of total imports. The United Arab Emirates (X tons) ranks next in terms of the total imports with a X% share, followed by Kuwait (X%). The following importers - Iraq (X tons) and Iran (X tons) - each reached a X% 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 Iran (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) constitutes the largest market for imported cyclic hydrocarbons in the Middle East, comprising X% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total imports. It was followed by the United Arab Emirates, with a X% share.

In Turkey, cyclic hydrocarbons 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: Saudi Arabia (X% per year) and the United Arab Emirates (X% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the import price, however, continues to indicate a slight decrease. The pace of growth appeared the most rapid in 2021 when the import price increased by X%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 Turkey ($X per ton), while Iraq ($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 a decline in the import price figures.

Source: IndexBox Platform

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