GCC: Market for Industrial Monocarboxylic Fatty Acids 2025

Market Size for Industrial Monocarboxylic Fatty Acids in GCC

The GCC industrial monocarboxylic fatty acids market declined to $X in 2021, with a decrease of -5.7% against the previous year. Over the period under review, consumption, however, showed pronounced growth. The level of consumption peaked at $X in 2020, and then shrank in the following year.

Production of Industrial Monocarboxylic Fatty Acids in GCC

In value terms, industrial monocarboxylic fatty acids production fell to $X in 2021 estimated in export price. Over the period under review, production, however, saw a moderate expansion. The most prominent rate of growth was recorded in 2017 when the production volume increased by 63% against the previous year. The level of production peaked at $X in 2020, and then declined modestly in the following year.

Exports of Industrial Monocarboxylic Fatty Acids

Exports in GCC

Industrial monocarboxylic fatty acids exports surged to X tons in 2021, rising by 98% against 2020 figures. In general, exports continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2015 when exports increased by 144% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are likely to see gradual growth in years to come.

In value terms, industrial monocarboxylic fatty acids exports surged to $X in 2021. Over the period under review, exports showed a resilient expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Saudi Arabia represented the largest exporter of industrial monocarboxylic fatty acids in GCC, with the volume of exports finishing at X tons, which was approx. 72% of total exports in 2021. The United Arab Emirates (X tons) ranks second in terms of the total exports with a 20% share, followed by Oman (7.7%).

Saudi Arabia was also the fastest-growing in terms of the industrial monocarboxylic fatty acids exports, with a CAGR of +24.9% from 2012 to 2021. At the same time, Oman (+10.1%) and the United Arab Emirates (+7.2%) displayed positive paces of growth. Saudi Arabia (+37 p.p.) significantly strengthened its position in terms of the total exports, while Oman and the United Arab Emirates saw its share reduced by -4% and -18.8% from 2012 to 2021, respectively.

In value terms, Saudi Arabia ($X) remains the largest industrial monocarboxylic fatty acids supplier in GCC, comprising 83% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 12% share of total exports.

In Saudi Arabia, industrial monocarboxylic fatty acids exports expanded at an average annual rate of +17.8% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (+1.8% per year) and Oman (+9.5% per year).

Export Prices by Country

In 2021, the export price in GCC amounted to $X per ton, picking up by 77% against the previous year. Overall, the export price, however, showed a slight setback. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (-0.6%), while the other leaders experienced a decline in the export price figures.

Imports of Industrial Monocarboxylic Fatty Acids

Imports in GCC

In 2021, purchases abroad of industrial monocarboxylic fatty acids decreased by -15% to X tons, falling for the third year in a row after two years of growth. In general, imports saw a pronounced descent. The growth pace was the most rapid in 2017 when imports increased by 74% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, industrial monocarboxylic fatty acids imports fell modestly to $X in 2021. Overall, imports recorded a perceptible decline. The most prominent rate of growth was recorded in 2017 with an increase of 114% against the previous year. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Saudi Arabia (X tons) and the United Arab Emirates (X tons) dominates imports structure, together making up 89% of total imports. It was distantly followed by Kuwait (X tons), achieving a 5.2% share of total imports. Oman (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Oman (with a CAGR of +30.1%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest industrial monocarboxylic fatty acids importing markets in GCC were Saudi Arabia ($X), the United Arab Emirates ($X) and Oman ($X), with a combined 92% share of total imports.

Oman, with a CAGR of +32.8%, saw 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 mixed trends in the imports figures.

Import Prices by Country

The import price in GCC stood at $X per ton in 2021, surging by 17% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the import price increased by 23%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Oman ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+2.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform