Middle East: Phenols Market 2024

Phenols Market Size in the Middle East

The Middle Eastern phenols market surged to $X in 2023, picking up by X% against the previous year. The total consumption indicated a moderate increase 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 2020 indices. Over the period under review, the market reached the maximum level in 2023 and is likely to see gradual growth in the immediate term.

Phenols Production in the Middle East

In value terms, phenols production expanded markedly to $X in 2023 estimated in export price. The total production indicated noticeable 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 remained at a somewhat lower figure.

Phenols Exports

Exports in the Middle East

Phenols exports surged to X tons in 2023, increasing by X% compared with the year before. In general, exports enjoyed buoyant growth. Over the period under review, the exports attained the maximum at X tons in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

In value terms, phenols exports fell to $X in 2023. Over the period under review, exports recorded measured growth. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, the exports attained 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 exporting country with an export of about X tons, which resulted at X% of total exports. Jordan (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Israel (X%).

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Saudi Arabia (with a CAGR of X%), while 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.

In Jordan, phenols exports increased at an average annual rate of X% over the period from 2012-2023. 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

The export price in the Middle East stood at $X per ton in 2023, dropping by X% against the previous year. Over the period under review, the export price saw a pronounced decrease. The pace of growth was the most pronounced in 2022 an increase of X%. As a result, the export price attained the peak level of $X per ton, and then dropped dramatically in the following year.

Prices varied noticeably by country of origin: 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

Phenols imports dropped remarkably to X tons in 2023, waning by X% on 2022 figures. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2022 to 2023, the growth of imports remained at a lower figure.

In value terms, phenols imports fell to $X in 2023. Total imports indicated a slight 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, imports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports remained at a lower figure.

Imports by Country

Turkey (X tons) and Jordan (X tons) represented the main importers of phenols in 2023, finishing at approx. X% and X% of total imports, respectively. The United Arab Emirates (X tons) ranks next in terms of the total imports with a 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.

Among the main importing countries, Jordan, with a CAGR of X%, recorded 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 the Middle East amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: 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