MENA: Phenols Market 2024

Phenols Market Size in MENA

The MENA's phenols market soared to $X in 2023, with an increase of X% against the previous year. The total consumption indicated tangible 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 2020 indices. The level of consumption peaked in 2023 and is likely to continue growth in the near future.

Phenols Production in MENA

In value terms, phenols production rose remarkably to $X in 2023 estimated in export price. The total production indicated a tangible expansion 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, production decreased by X% against 2021 indices. The growth pace was the most rapid in 2021 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2022 to 2023, production growth failed to regain momentum.

Phenols Exports

Exports in MENA

Phenols exports surged to X tons in 2023, picking up by X% against the previous year's figure. In general, exports continue to indicate a remarkable increase. Over the period under review, the exports reached the maximum at X tons in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

In value terms, phenols exports shrank to $X in 2023. Overall, exports recorded a measured increase. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. 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 key exporter of phenols in MENA, with the volume of exports accounting for X tons, which was approx. X% of total exports in 2023. Jordan (X tons) held 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 ($X) remains the largest phenols supplier in MENA, comprising X% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in Jordan totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (X% per year) and Israel (X% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2023, dropping by X% against the previous year. In general, the export price continues to indicate a perceptible slump. The pace of growth appeared the most rapid in 2022 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then contracted 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 MENA

In 2023, the amount of phenols imported in MENA declined dramatically to X tons, waning by X% on the year before. In general, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, imports reached the peak of X tons. From 2022 to 2023, the growth of imports failed to regain momentum.

In value terms, phenols imports reduced 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 attained 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) were the major importers of phenols in 2023, amounting to near X% and X% of total imports, respectively. It was distantly followed by the United Arab Emirates (X tons), Iran (X tons), Saudi Arabia (X tons) and Israel (X tons), together creating a X% share of total imports. Egypt (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main 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 MENA were Turkey ($X), Jordan ($X) and the United Arab Emirates ($X), together accounting for X% of total imports.

Jordan, with a CAGR of X%, recorded 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 MENA amounted to $X per ton, picking up by X% against the previous year. Overall, the import price recorded 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 Egypt ($X per ton), while Jordan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform