Report Update Nov 1, 2024

GCC - Acrylic Acid and Its Salts and Other Monocarboxylic Acid - Market Analysis, Forecast, Size, Trends and Insights

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GCC: Monocarboxylic Acid Market 2024

Monocarboxylic Acid Market Size in GCC

The GCC monocarboxylic acid market shrank to $X in 2022, falling by -8.5% against the previous year. In general, consumption recorded a prominent increase. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Monocarboxylic Acid Production in GCC

In value terms, monocarboxylic acid production shrank to $X in 2022 estimated in export price. Overall, production, however, saw significant growth. The pace of growth was the most pronounced in 2013 when the production volume increased by 318%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Monocarboxylic Acid Exports

Exports in GCC

In 2022, approx. X tons of acrylic acid and its salts and other monocarboxylic acid were exported in GCC; waning by -18.6% compared with 2021 figures. In general, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 377% against the previous year. The volume of export peaked at X tons in 2021, and then reduced sharply in the following year.

In value terms, monocarboxylic acid exports contracted notably to $X in 2022. Overall, exports, however, enjoyed a significant increase. The growth pace was the most rapid in 2013 with an increase of 411%. The level of export peaked at $X in 2021, and then shrank sharply in the following year.

Exports by Country

Saudi Arabia (X tons) represented roughly 99% of total exports in 2022.

Saudi Arabia was also the fastest-growing in terms of the acrylic acid and its salts and other monocarboxylic acid exports, with a CAGR of +44.5% from 2012 to 2022. From 2012 to 2022, the share of Saudi Arabia increased by +16 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) also remains the largest monocarboxylic acid supplier in GCC.

From 2012 to 2022, the average annual growth rate of value in Saudi Arabia totaled +42.6%.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, remaining constant against the previous year. Overall, the export price, however, continues to indicate a perceptible curtailment. The most prominent rate of growth was recorded in 2021 when the export price increased by 36%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Saudi Arabia.

From 2012 to 2022, the rate of growth in terms of prices for Saudi Arabia amounted to -1.4% per year.

Monocarboxylic Acid Imports

Imports in GCC

In 2022, supplies from abroad of acrylic acid and its salts and other monocarboxylic acid decreased by -63.7% to X tons for the first time since 2017, thus ending a four-year rising trend. Over the period under review, imports recorded a perceptible reduction. The growth pace was the most rapid in 2016 when imports increased by 95%. Over the period under review, imports hit record highs at X tons in 2021, and then fell rapidly in the following year.

In value terms, monocarboxylic acid imports declined dramatically to $X in 2022. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 69%. As a result, imports reached the peak of $X, and then contracted rapidly in the following year.

Imports by Country

The United Arab Emirates (X tons) and Saudi Arabia (X tons) prevails in imports structure, together creating 94% of total imports. The following importers - Qatar (X tons) and Bahrain (X tons) - together made up 5.2% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Bahrain (with a CAGR of +30.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest monocarboxylic acid importing markets in GCC were the United Arab Emirates ($X), Saudi Arabia ($X) and Qatar ($X), together comprising 96% of total imports. Bahrain lagged somewhat behind, comprising a further 3.1%.

In terms of the main importing countries, Bahrain, with a CAGR of +26.2%, saw 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

The import price in GCC stood at $X per ton in 2022, with an increase of 52% against the previous year. Import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, monocarboxylic acid import price increased by +126.6% against 2020 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Qatar ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+3.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

This report provides an in-depth analysis of the monocarboxylic acid market in GCC. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 20143310 - Acrylic acid and its salts and other monocarboxylic acid

Country coverage:

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Production in GCC, split by region and country
Trade (exports and imports) in GCC
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. CONSUMPTION BY COUNTRY
3. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
2. PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
11. COUNTRY PROFILES

The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO
- Bahrain
- Kuwait
- Oman
- Qatar
- Saudi Arabia
- United Arab Emirates
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption, By Country, 2018–2023
5. Production, In Physical Terms, By Country, 2012–2023
6. Imports, In Physical Terms, By Country, 2012–2023
7. Imports, In Value Terms, By Country, 2012–2023
8. Import Prices, By Country Of Destination, 2012–2023
9. Exports, In Physical Terms, By Country, 2012–2023
10. Exports, In Value Terms, By Country, 2012–2023
11. Export Prices, By Country Of Origin, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Consumption, By Country, 2023
4. Market Volume Forecast to 2030
5. Market Value Forecast to 2030
6. Products: Market Size And Growth, By Type
7. Products: Average Per Capita Consumption, By Type
8. Products: Exports And Growth, By Type
9. Products: Export Prices And Growth, By Type
10. Production Volume And Growth
11. Exports And Growth
12. Export Prices And Growth
13. Market Size And Growth
14. Per Capita Consumption
15. Imports And Growth
16. Import Prices
17. Production, In Physical Terms, 2012–2023
18. Production, In Value Terms, 2012–2023
19. Production, By Country, 2023
20. Production, In Physical Terms, By Country, 2012–2023
21. Imports, In Physical Terms, 2012–2023
22. Imports, In Value Terms, 2012–2023
23. Imports, In Physical Terms, By Country, 2023
24. Imports, In Physical Terms, By Country, 2012–2023
25. Imports, In Value Terms, By Country, 2012–2023
26. Import Prices, By Country, 2012–2023
27. Exports, In Physical Terms, 2012–2023
28. Exports, In Value Terms, 2012–2023
29. Exports, In Physical Terms, By Country, 2023
30. Exports, In Physical Terms, By Country, 2012–2023
31. Exports, In Value Terms, By Country, 2012–2023
32. Export Prices, 2012–2023