MENA: Polyurethanes Market 2024

Polyurethanes Market Size in MENA

In 2023, after two years of growth, there was significant decline in the MENA's polyurethanes market, when its value decreased by X% to $X. The total consumption indicated prominent 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, consumption increased by X% against 2020 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2023, consumption failed to regain momentum.

Polyurethanes Production in MENA

In value terms, polyurethanes production totaled $X in 2023 estimated in export price. Overall, production, however, showed resilient growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2019 to 2023, production growth remained at a lower figure.

Polyurethanes Exports

Exports in MENA

In 2023, the amount of polyurethanes in primary forms exported in MENA expanded significantly to X tons, surging by X% compared with 2022 figures. Total exports indicated a buoyant expansion from 2012 to 2023: its volume 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, exports decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2023, the exports remained at a lower figure.

In value terms, polyurethanes exports expanded rapidly to $X in 2023. In general, exports saw buoyant growth. The most prominent rate of growth was recorded in 2013 with an increase of X%. The level of export peaked in 2023 and is expected to retain growth in years to come.

Exports by Country

In 2023, Turkey (X tons) was the largest exporter of polyurethanes in primary forms, constituting X% of total exports. It was distantly followed by the United Arab Emirates (X tons), committing a X% share of total exports. Saudi Arabia (X tons) followed a long way behind the leaders.

Turkey was also the fastest-growing in terms of the polyurethanes in primary forms exports, with a CAGR of X% from 2012 to 2023. At the same time, the United Arab Emirates (X%) and Saudi Arabia (X%) displayed positive paces of growth. While the share of Turkey (X p.p.) and the United Arab Emirates (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Saudi Arabia (X p.p.) displayed negative dynamics.

In value terms, Turkey ($X) remains the largest polyurethanes supplier in MENA, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports.

In Turkey, polyurethanes exports increased at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Saudi Arabia (X% per year).

Export Prices by Country

In 2023, the export price in MENA amounted to $X per ton, falling by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 an increase of X%. The level of export peaked at $X per ton in 2022, and then reduced in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

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

Polyurethanes Imports

Imports in MENA

In 2023, overseas purchases of polyurethanes in primary forms decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. The total import volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2023, imports stood at a somewhat lower figure.

In value terms, polyurethanes imports contracted to $X in 2023. The total import value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of X%. The level of import peaked at $X in 2022, and then fell in the following year.

Imports by Country

In 2023, Iran (X tons) was the main importer of polyurethanes in primary forms, committing X% of total imports. Turkey (X tons) ranks second in terms of the total imports with a X% share, followed by the United Arab Emirates (X%). Tunisia (X tons), Jordan (X tons), Algeria (X tons), Israel (X tons), Oman (X tons), Morocco (X tons), Lebanon (X tons) and Egypt (X tons) took a little share of total imports.

From 2012 to 2023, average annual rates of growth with regard to polyurethanes imports into Iran stood at X%. At the same time, Jordan (X%), Lebanon (X%), Algeria (X%), Oman (X%), Morocco (X%) and Tunisia (X%) displayed positive paces of growth. Moreover, Jordan emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2023. The United Arab Emirates and Israel experienced a relatively flat trend pattern. By contrast, Turkey (X%) and Egypt (X%) illustrated a downward trend over the same period. While the share of Iran (X p.p.) and Jordan (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of the United Arab Emirates (X p.p.), Egypt (X p.p.) and Turkey (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Iran ($X), Turkey ($X) and the United Arab Emirates ($X) constituted the countries with the highest levels of imports in 2023, together accounting for X% of total imports. Tunisia, Israel, Algeria, Jordan, Egypt, Morocco, Oman and Lebanon lagged somewhat behind, together comprising a further X%.

Jordan, with a CAGR of X%, recorded the highest growth rate of 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, declining by X% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 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 Israel ($X per ton), while Jordan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform