Middle East: Phenols Market 2024

Phenols Market Size in the Middle East

The Middle Eastern phenols market expanded significantly to $X in 2023, increasing by X% against the previous year. The total consumption indicated a temperate 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 decreased by X% against 2021 indices. As a result, consumption attained the peak level of $X. From 2022 to 2023, the growth of the market remained at a lower figure.

Phenols Production in the Middle East

In value terms, phenols production reached $X in 2023 estimated in export price. The total production indicated pronounced 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, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2021 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2022 to 2023, production growth failed to regain momentum.

Phenols Exports

Exports in the Middle East

In 2023, phenols exports in the Middle East surged to X tons, growing by X% against 2022 figures. Overall, exports saw a strong increase. Over the period under review, the exports attained the peak figure at X tons in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

In value terms, phenols exports contracted to $X in 2023. In general, exports recorded a noticeable expansion. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports reached the peak of $X. From 2022 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

Saudi Arabia was the major exporter of phenols in the Middle East, with the volume of exports accounting for X tons, which was near X% of total exports in 2023. Jordan (X tons) took the second position in the ranking, distantly followed by Israel (X tons). All these countries together held approx. X% share of total exports.

From 2012 to 2023, the biggest increases were recorded for Saudi Arabia (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

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

From 2012 to 2023, the average annual growth rate of value in Jordan amounted to X%. In the other countries, the average annual rates were as follows: Saudi Arabia (X% per year) and Israel (X% per year).

Export Prices by Country

In 2023, the export price in the Middle East amounted to $X per ton, which is down by X% against the previous year. Overall, the export price saw a noticeable setback. The pace of growth appeared the most rapid in 2022 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then reduced notably in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Israel ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Jordan (X%), while the other leaders experienced mixed trends in the export price figures.

Phenols Imports

Imports in the Middle East

In 2023, approx. X tons of phenols were imported in the Middle East; waning by X% against the previous year. In general, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, phenols imports dropped to $X in 2023. Total imports indicated mild growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

Turkey (X tons) and Jordan (X tons) represented roughly X% of total imports in 2023. The United Arab Emirates (X tons) ranks next in terms of the total imports with an X% share, followed by Iran (X%), Saudi Arabia (X%) and Israel (X%).

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

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

Jordan, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of 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 2023, the import price in the Middle East amounted to $X per ton, jumping by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2021 when the import price increased by X% against the previous year. The level of import peaked in 2023 and is likely to see steady growth in the near future.

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 the United Arab Emirates ($X per ton), while Jordan ($X per ton) was 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 more modest paces of growth.

Source: IndexBox Platform