Iran: Market for Industrial Monocarboxylic Fatty Acids 2024

Market Size for Industrial Monocarboxylic Fatty Acids in Iran

After three years of growth, the Iranian industrial monocarboxylic fatty acids market decreased by -13.1% to $X in 2021. Over the period under review, consumption continues to indicate a pronounced contraction. Industrial monocarboxylic fatty acids consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Production of Industrial Monocarboxylic Fatty Acids in Iran

In value terms, industrial monocarboxylic fatty acids production declined to $X in 2021 estimated in export price. Over the period under review, production saw a pronounced descent. The pace of growth was the most pronounced in 2020 when the production volume increased by 22% against the previous year. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Exports of Industrial Monocarboxylic Fatty Acids

Exports from Iran

In 2021, industrial monocarboxylic fatty acids exports from Iran soared to X tons, with an increase of 542% on 2020. In general, exports posted significant growth. The pace of growth was the most pronounced in 2017 with an increase of 778% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

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

Exports by Country

Turkey (X tons) was the main destination for industrial monocarboxylic fatty acids exports from Iran, with a 53% share of total exports. Moreover, industrial monocarboxylic fatty acids exports to Turkey exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), twofold. The third position in this ranking was taken by the Netherlands (X tons), with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Turkey amounted to +89.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+76.5% per year) and the Netherlands (+400.4% per year).

In value terms, Turkey ($X), the United Arab Emirates ($X) and the Netherlands ($X) constituted the largest markets for industrial monocarboxylic fatty acids exported from Iran worldwide, with a combined 91% share of total exports.

Among the main countries of destination, the Netherlands, with a CAGR of +442.8%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average industrial monocarboxylic fatty acids export price amounted to $X per ton, increasing by 24% against the previous year. In general, the export price, however, recorded a pronounced setback. The most prominent rate of growth was recorded in 2015 when the average export price increased by 34%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Industrial Monocarboxylic Fatty Acids

Imports into Iran

In 2021, purchases abroad of industrial monocarboxylic fatty acids was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports, however, saw a dramatic setback. The most prominent rate of growth was recorded in 2013 with an increase of 157% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, industrial monocarboxylic fatty acids imports fell to $X in 2021. In general, imports, however, continue to indicate a dramatic downturn. The most prominent rate of growth was recorded in 2013 with an increase of 139%. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Malaysia (X tons), Turkey (X tons) and India (X tons) were the main suppliers of industrial monocarboxylic fatty acids imports to Iran, with a combined 57% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +16.2%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest industrial monocarboxylic fatty acids suppliers to Iran were Malaysia ($X), Turkey ($X) and India ($X), with a combined 65% share of total imports.

In terms of the main suppliers, Turkey, with a CAGR of +12.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average industrial monocarboxylic fatty acids import price stood at $X per ton in 2021, waning by -18.9% against the previous year. In general, import price indicated a perceptible increase from 2012 to 2021: its price increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, industrial monocarboxylic fatty acids import price increased by +22.0% against 2019 indices. The most prominent rate of growth was recorded in 2020 when the average import price increased by 51%. As a result, import price attained the peak level of $X per ton, and then shrank notably in the following year.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was India ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kazakhstan (+15.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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