Iran: Acrylic Acid Esters Market 2024

Acrylic Acid Esters Market Size in Iran

The Iranian acrylic acid esters market declined rapidly to $X in 2022, waning by -17.2% 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). In general, the total consumption indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +3.0% 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 +43.0% against 2020 indices. As a result, consumption reached the peak level of $X, and then plummeted in the following year.

Acrylic Acid Esters Exports

Exports from Iran

In 2022, shipments abroad of esters of acrylic acid increased by 15% to X tons, rising for the eighth year in a row after two years of decline. In general, exports, however, saw a abrupt shrinkage. The growth pace was the most rapid in 2016 with an increase of 19%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, acrylic acid esters exports fell to $X in 2022. Overall, exports, however, saw a abrupt curtailment. The pace of growth was the most pronounced in 2016 with an increase of 14%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Kyrgyzstan (X tons), Uzbekistan (X tons) and Armenia (X kg) were the main destinations of acrylic acid esters exports from Iran, together accounting for 100% of total exports.

From 2012 to 2022, the biggest increases were recorded for Uzbekistan (with a CAGR of +5,313.1%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for acrylic acid esters exported from Iran were Uzbekistan ($X), Kyrgyzstan ($X) and Armenia ($X), together comprising 100% of total exports.

Uzbekistan, with a CAGR of +10,545.5%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average acrylic acid esters export price amounted to $X per ton, shrinking by -18.4% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 51% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Uzbekistan ($X per ton), while the average price for exports to Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Uzbekistan (+96.7%).

Acrylic Acid Esters Imports

Imports into Iran

In 2022, approx. X tons of esters of acrylic acid were imported into Iran; growing by 5.2% against the previous year. In general, total imports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +48.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 41% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, acrylic acid esters imports fell rapidly to $X in 2022. Overall, total imports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +41.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 82%. As a result, imports reached the peak of $X, and then fell rapidly in the following year.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest supplier of acrylic acid esters to Iran, with a 65% share of total imports. Moreover, acrylic acid esters imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, South Korea (X tons), threefold. The third position in this ranking was taken by India (X tons), with an 8.8% share.

From 2012 to 2022, the average annual growth rate of volume from the United Arab Emirates stood at +28.3%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-5.1% per year) and India (+31.5% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of esters of acrylic acid to Iran, comprising 69% of total imports. The second position in the ranking was taken by South Korea ($X), with a 17% share of total imports. It was followed by India, with a 7.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United Arab Emirates amounted to +22.6%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-10.3% per year) and India (+27.6% per year).

Import Prices by Country

In 2022, the average acrylic acid esters import price amounted to $X per ton, declining by -26.4% against the previous year. Over the period under review, the import price continues to indicate a perceptible decrease. The pace of growth appeared the most rapid in 2021 when the average import price increased by 29%. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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