Middle East: Monoethanolamine Market 2024

Monoethanolamine Market Size in the Middle East

After five years of growth, the Middle Eastern monoethanolamine market decreased by X% to $X in 2023. The total consumption indicated a noticeable expansion 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 reached the peak level of $X, and then shrank rapidly in the following year.

Monoethanolamine Production in the Middle East

In value terms, monoethanolamine production stood at $X in 2023 estimated in export price. Over the period under review, production, however, posted a strong increase. The pace of growth appeared the most rapid in 2017 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2023, production stood at a somewhat lower figure.

Monoethanolamine Exports

Exports in the Middle East

In 2023, overseas shipments of monoethanolamine and its salts were finally on the rise to reach X tons for the first time since 2019, thus ending a three-year declining trend. In general, exports recorded a strong increase. The pace of growth was the most pronounced in 2017 when exports increased by X%. The volume of export peaked at X tons in 2019; however, from 2020 to 2023, the exports remained at a lower figure.

In value terms, monoethanolamine exports shrank to $X in 2023. Overall, exports recorded significant growth. The most prominent rate of growth was recorded 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 stood at a somewhat lower figure.

Exports by Country

Saudi Arabia prevails in exports structure, resulting at X tons, which was near X% of total exports in 2023. Iran (X tons), the United Arab Emirates (X tons) and Turkey (X tons) held a minor share of total exports.

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 the Middle East, 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 ($X) remains the largest monoethanolamine supplier in the Middle East, comprising X% of total exports. The second position in the ranking was taken by Iran ($X), with a X% share of total exports. It was followed by the United Arab Emirates, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Saudi Arabia stood at X%. 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 the Middle East stood at $X per ton in 2023, shrinking by X% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2022 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton, and then declined dramatically 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 the Middle East

Monoethanolamine imports soared to X tons in 2023, picking up by X% against 2022 figures. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, imports attained the peak of X tons. From 2019 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, monoethanolamine imports rose sharply to $X in 2023. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

Turkey (X tons) and the United Arab Emirates (X tons) prevails in imports structure, together creating X% of total imports. Qatar (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Oman (X%) and Kuwait (X%). The following importers - Israel (X tons) and Iran (X tons) - together made up X% 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 United Arab Emirates ($X), Turkey ($X) and Qatar ($X) appeared to be the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Oman, Kuwait, Israel and Iran lagged somewhat behind, together accounting for a further X%.

Oman, with a CAGR of X%, saw 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 2023, shrinking by X% against the previous year. In general, the import price recorded a slight reduction. The pace of growth appeared the most rapid in 2021 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2023, import prices failed to regain momentum.

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