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Turkey Constitutes the Biggest Market for Imported Acetone in the Middle East

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Turkey Constitutes the Biggest Market for Imported Acetone in the Middle East

IndexBox has just published a new report: ‘Middle East – Acetone – Market Analysis, Forecast, Size, Trends And Insights’. Here is a summary of the report’s key findings.

Exports in the Middle East

In 2018, acetone exports stood at $125M (IndexBox estimates). Overall, acetone exports continue to indicate a prominent expansion. The growth pace was the most rapid in 2017 when exports more than doubled against the previous year. The level of exports peaked in 2018 and are likely to continue its growth in the near future.

Exports by Country

Saudi Arabia ($124M) represented roughly 99% of total exports of acetone in 2018.

Saudi Arabia was also the fastest-growing in terms of the acetone exports, with a CAGR of +16.6%% from 2013 to 2018. This country significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

Imports in the Middle East

In value terms, acetone imports stood at $37M (IndexBox estimates) in 2018. In general, acetone imports, however, continue to indicate a deep decrease. The pace of growth appeared the most rapid in 2017 with an increase of 39% against the previous year. The level of imports peaked at $66M in 2014; however, from 2015 to 2018, imports remained at a lower figure.

Imports by Country

Turkey ($22M) constitutes the largest market for imported acetone in the Middle East, comprising 58% of total acetone imports. The second position in the ranking was occupied by Iran ($4.3M), with a 12% share of total imports. It was followed by Israel, with a 11% share.

Import Prices by Country

The acetone import price in the Middle East stood at $737 per tonne in 2018.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was Iran ($972 per tonne), while the United Arab Emirates ($561 per tonne) was amongst the lowest.

From 2013 to 2018, the most notable rate of growth in terms of prices was attained by Iran, while the other leaders experienced a decline in the import price figures.

Source: IndexBox AI Platform