Iran: Carboxylic Acid Market 2024

Carboxylic Acid Market Size in Iran

The Iranian carboxylic acid market skyrocketed to $X in 2021, with an increase of 49% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -2.5% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Carboxylic Acid Exports

Exports from Iran

Carboxylic acid exports from Iran skyrocketed to X tons in 2020, jumping by 258% on the previous year's figure. Over the period under review, exports continue to indicate a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, carboxylic acid exports rose rapidly to $X in 2020. Overall, exports recorded a prominent expansion. The growth pace was the most rapid in 2018 when exports increased by 53%. The exports peaked in 2020 and are likely to see steady growth in the near future.

Exports by Country

Tajikistan (X tons) was the main destination for carboxylic acid exports from Iran, accounting for a approx. 100% share of total exports.

From 2012 to 2020, the average annual growth rate of volume to Tajikistan was relatively modest.

In value terms, Tajikistan ($X) emerged as the key foreign market for carboxylic acid with alcohol, phenol, aldehyde or ketone functions exports from Iran.

From 2012 to 2020, the average annual rate of growth in terms of value to Tajikistan was relatively modest.

Export Prices by Country

In 2020, the average carboxylic acid export price amounted to $X per ton, shrinking by -68.7% against the previous year. Overall, the export price continues to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2013 an increase of 545%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2020, the average export prices remained at a somewhat lower figure.

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

From 2012 to 2020, the rate of growth in terms of prices for the United Arab Emirates amounted to +26.7% per year.

Carboxylic Acid Imports

Imports into Iran

In 2021, the amount of carboxylic acid with alcohol, phenol, aldehyde or ketone functions imported into Iran surged to X tons, picking up by 21% on the previous year. Overall, imports, however, continue to indicate a noticeable decrease. The growth pace was the most rapid in 2016 when imports increased by 55%. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, carboxylic acid imports soared to $X in 2021. Over the period under review, total imports indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -0.8% against 2019 indices. The growth pace was the most rapid in 2019 when imports increased by 64% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Taiwan (Chinese) (X tons), China (X tons) and the United Arab Emirates (X tons) were the main suppliers of carboxylic acid imports to Iran, together comprising 63% of total imports. These countries were followed by the Czech Republic, Oman, India, Malaysia, the Netherlands, South Korea and Turkey, which together accounted for a further 22%.

From 2012 to 2021, the biggest increases were recorded for the Czech Republic (with a CAGR of +13,089,200.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of carboxylic acid with alcohol, phenol, aldehyde or ketone functions to Iran, comprising 40% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with an 18% share of total imports. It was followed by India, with an 8.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +7.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-1.2% per year) and India (-2.1% per year).

Import Prices by Country

The average carboxylic acid import price stood at $X per ton in 2021, rising by 1.7% against the previous year. Over the period under review, the import price enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2020 when the average import price increased by 33% against the previous year. Over the period under review, average import prices reached the maximum in 2021 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was South Korea ($X per ton), while the price for Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+82.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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