MENA: Cumene Market 2024

Cumene Market Size in MENA

The MENA's cumene market was finally on the rise to reach $X in 2023, after two years of decline. Overall, consumption, however, saw a abrupt setback. The level of consumption peaked at $X in 2017; however, from 2018 to 2023, consumption failed to regain momentum.

Cumene Production in MENA

In value terms, cumene production reached $X in 2023 estimated in export price. In general, production, however, continues to indicate a slight setback. The most prominent rate of growth was recorded in 2020 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

Cumene Exports

Exports in MENA

In 2023, after eleven years of growth, there was significant decline in shipments abroad of cumene, when their volume decreased by X% to X tons. Overall, exports, however, saw a significant expansion. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2022, and then reduced dramatically in the following year.

In value terms, cumene exports dropped notably to $X in 2023. Over the period under review, exports, however, enjoyed a significant increase. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2022, and then shrank significantly in the following year.

Exports by Country

Saudi Arabia dominates exports structure, amounting to X tons, which was near X% of total exports in 2023. It was distantly followed by the United Arab Emirates (X tons), comprising a X% share of total exports.

Saudi Arabia was also the fastest-growing in terms of the cumene exports, with a CAGR of X% from 2012 to 2023. At the same time, the United Arab Emirates (X%) displayed positive paces of growth. Saudi Arabia (X p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by X% from 2012 to 2023, respectively.

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

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

Export Prices by Country

The export price in MENA stood at $X per ton in 2023, remaining stable against the previous year. Over the period under review, the export price, however, saw a abrupt slump. The pace of growth appeared the most rapid in 2018 when the export price increased by X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices failed to regain momentum.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%).

Cumene Imports

Imports in MENA

In 2023, overseas purchases of cumene increased by X% to X kg, rising for the second year in a row after two years of decline. Overall, imports, however, recorded a sharp descent. The pace of growth was the most pronounced in 2017 when imports increased by X%. As a result, imports reached the peak of X tons. From 2018 to 2023, the growth of imports remained at a lower figure.

In value terms, cumene imports soared to $X in 2023. Over the period under review, imports, however, continue to indicate a dramatic downturn. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2023, the growth of imports failed to regain momentum.

Imports by Country

Turkey represented the major importing country with an import of about X kg, which reached X% of total imports. It was distantly followed by Oman (X kg), creating a X% share of total imports. The following importers - Jordan (X kg), Kuwait (X kg) and Iran (X kg) - each finished at a X% share of total imports.

Turkey was also the fastest-growing in terms of the cumene imports, with a CAGR of X% from 2012 to 2023. At the same time, Oman (X%) displayed positive paces of growth. By contrast, Iran (X%), Kuwait (X%) and Jordan (X%) illustrated a downward trend over the same period. While the share of Turkey (X p.p.), Oman (X p.p.), Iran (X p.p.) and Kuwait (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Jordan (X p.p.) displayed negative dynamics.

In value terms, the largest cumene importing markets in MENA were Turkey ($X), Jordan ($X) and Oman ($X), with a combined X% share of total imports.

Turkey, 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 a decline in the imports figures.

Import Prices by Country

The import price in MENA stood at $X per ton in 2023, dropping by X% against the previous year. In general, the import price, however, enjoyed strong growth. The growth pace was the most rapid in 2020 an increase of X%. Over the period under review, import prices reached the peak figure at $X per ton in 2021; however, from 2022 to 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Jordan ($X per ton), while Oman ($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 more modest paces of growth.

Source: IndexBox Platform