GCC: Market for Saturated Acyclic Monocarboxylic Acids 2024

Market Size for Saturated Acyclic Monocarboxylic Acids in GCC

The GCC saturated acyclic monocarboxylic acids market skyrocketed to $X in 2022, jumping by X% against the previous year. The total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2015 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Saturated Acyclic Monocarboxylic Acids in GCC

In value terms, saturated acyclic monocarboxylic acids production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 with an increase of X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Saturated Acyclic Monocarboxylic Acids

Exports in GCC

Saturated acyclic monocarboxylic acids exports was estimated at X tons in 2022, surging by X% compared with the previous year. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, saturated acyclic monocarboxylic acids exports shrank to $X in 2022. Over the period under review, exports continue to indicate a tangible increase. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, the exports attained the peak of $X, and then declined in the following year.

Exports by Country

Saudi Arabia dominates exports structure, reaching X tons, which was near X% of total exports in 2022. It was distantly followed by the United Arab Emirates (X tons), comprising a X% share of total exports.

Saudi Arabia experienced a relatively flat trend pattern with regard to volume of exports of saturated acyclic monocarboxylic acids. At the same time, the United Arab Emirates (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2022. The United Arab Emirates (X p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia saw its share reduced by X% from 2012 to 2022, respectively.

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

From 2012 to 2022, the average annual growth rate of value in Saudi Arabia amounted to X%.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, which is down by X% against the previous year. Export price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, saturated acyclic monocarboxylic acids export price increased by X% against 2016 indices. The pace of growth was the most pronounced in 2021 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then reduced dramatically in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%).

Imports of Saturated Acyclic Monocarboxylic Acids

Imports in GCC

In 2022, overseas purchases of saturated acyclic monocarboxylic acids increased by X% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when imports increased by X%. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, saturated acyclic monocarboxylic acids imports rose rapidly to $X in 2022. Overall, imports saw a strong expansion. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

The United Arab Emirates represented the major importing country with an import of around X tons, which amounted to X% of total imports. It was distantly followed by Saudi Arabia (X tons), generating a X% share of total imports. The following importers - Bahrain (X tons) and Oman (X tons) - each resulted at a X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to saturated acyclic monocarboxylic acids imports into the United Arab Emirates stood at X%. At the same time, Bahrain (X%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2022. By contrast, Saudi Arabia (X%) and Oman (X%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Saudi Arabia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported saturated acyclic monocarboxylic acids in GCC, comprising X% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total imports. It was followed by Bahrain, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Saudi Arabia (X% per year) and Bahrain (X% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, which is down by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X%. As a result, import price reached the peak level of $X per ton, and then shrank in the following year.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Bahrain ($X per ton) and the United Arab Emirates ($X per ton), while Saudi Arabia ($X per ton) and Oman ($X per ton) were amongst the lowest.

From 2012 to 2022, 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.

Source: IndexBox Platform