MENA: Monoethanolamine Market 2024

Monoethanolamine Market Size in MENA

In 2023, the MENA's monoethanolamine market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. The total consumption indicated perceptible growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2017 indices. As a result, consumption attained the peak level of $X, and then plummeted in the following year.

Monoethanolamine Production in MENA

In value terms, monoethanolamine production expanded modestly to $X in 2023 estimated in export price. Over the period under review, production, however, showed buoyant growth. The most prominent rate of growth was recorded in 2017 with an increase of X%. The level of production peaked at $X in 2019; however, from 2020 to 2023, production stood at a somewhat lower figure.

Monoethanolamine Exports

Exports in MENA

In 2023, overseas shipments of monoethanolamine and its salts increased by X% to X tons for the first time since 2019, thus ending a three-year declining trend. Over the period under review, exports showed a prominent increase. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, the exports reached the maximum at X tons in 2019; however, from 2020 to 2023, the exports stood at a somewhat lower figure.

In value terms, monoethanolamine exports dropped to $X in 2023. Overall, exports posted a significant increase. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2023, the exports failed to regain momentum.

Exports by Country

Saudi Arabia prevails in exports structure, reaching X tons, which was near X% of total exports in 2023. Iran (X tons), the United Arab Emirates (X tons) and Turkey (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to monoethanolamine exports from Saudi Arabia stood at X%. At the same time, Turkey (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in MENA, with a CAGR of X% from 2012-2023. By contrast, Iran (X%) illustrated a downward trend over the same period. While the share of Saudi Arabia (X p.p.) and Turkey (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of the United Arab Emirates (X p.p.) and Iran (X p.p.) displayed negative dynamics.

In value terms, Saudi Arabia ($X) remains the largest monoethanolamine supplier in MENA, comprising X% of total exports. The second position in the ranking was held by Iran ($X), with a X% share of total exports. It was followed by the United Arab Emirates, with a X% share.

In Saudi Arabia, monoethanolamine exports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Iran (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2023, declining by X% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2022 an increase of X%. As a result, the export price reached the peak level of $X per ton, and then dropped remarkably in the following year.

Average prices varied noticeably amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in Turkey ($X per ton) and Saudi Arabia ($X per ton), while Iran ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.

From 2012 to 2023, 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 export price figures.

Monoethanolamine Imports

Imports in MENA

In 2023, approx. X tons of monoethanolamine and its salts were imported in MENA; increasing by X% against 2022 figures. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2023, imports stood at a somewhat lower figure.

In value terms, monoethanolamine imports rose significantly to $X in 2023. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X%. The level of import peaked at $X in 2019; however, from 2020 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, Turkey (X tons) and the United Arab Emirates (X tons) represented the largest importers of monoethanolamine and its salts in MENA, together committing X% of total imports. Egypt (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Qatar (X%) and Oman (X%). The following importers - Kuwait (X tons) and Israel (X tons) - each resulted at a X% share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Oman (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest monoethanolamine importing markets in MENA were the United Arab Emirates ($X), Turkey ($X) and Egypt ($X), with a combined X% share of total imports. Qatar, Oman, Kuwait and Israel lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Oman, with a CAGR of X%, saw 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 2023, the import price in MENA amounted to $X per ton, falling by X% against the previous year. Over the period under review, the import price continues to indicate a mild curtailment. The pace of growth was the most pronounced in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Qatar ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Kuwait (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform