MENA: Market for Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate) 2024

Market Size for Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate) in MENA

The MENA's market for acrylic polymers, in primary forms (excluding polymethyl methacrylate) was finally on the rise to reach $X in 2021, after three years of decline. In general, consumption continues to indicate a slight decline. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Production of Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate) in MENA

In value terms, production of acrylic polymers, in primary forms (excluding polymethyl methacrylate) expanded rapidly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.3% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 with an increase of 21% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2021, production of growth remained at a somewhat lower figure.

Exports of Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate)

Exports in MENA

For the sixth year in a row, MENA recorded growth in shipments abroad of acrylic polymers, in primary forms (excluding polymethyl methacrylate), which increased by 15% to X tons in 2021. Overall, exports recorded strong growth. The growth pace was the most rapid in 2013 with an increase of 48%. Over the period under review, the exports of attained the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, exports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) skyrocketed to $X in 2021. In general, exports showed a buoyant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey represented the key exporting country with an export of around X tons, which reached 67% of total exports. The United Arab Emirates (X tons) held a 12% share (based on physical terms) of total exports, which put it in second place, followed by Saudi Arabia (9.8%) and Israel (4.8%). Egypt (X tons) took a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to acrylic polymers, in primary forms (excluding polymethyl methacrylate) exports from Turkey stood at +14.9%. At the same time, Egypt (+72.2%), the United Arab Emirates (+16.9%), Israel (+16.7%) and Saudi Arabia (+8.4%) displayed positive paces of growth. Moreover, Egypt emerged as the fastest-growing exporter exported in MENA, with a CAGR of +72.2% from 2012-2021. From 2012 to 2021, the share of Egypt and the United Arab Emirates increased by +3.4 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest acrylic polymers, in primary forms (excluding polymethyl methacrylate) supplier in MENA, comprising 64% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 12% share of total exports. It was followed by Saudi Arabia, with a 9.5% share.

In Turkey, exports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) expanded at an average annual rate of +12.4% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (+13.0% per year) and Saudi Arabia (+2.5% per year).

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, growing by 32% against the previous year. In general, the export price, however, recorded a pronounced descent. Over the period under review, the export prices reached the peak figure 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 Israel ($X per ton), while Egypt ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (-2.2%), while the other leaders experienced a decline in the export price figures.

Imports of Acrylic Polymers, In Primary Forms (Excluding Polymethyl Methacrylate)

Imports in MENA

In 2021, imports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) in MENA dropped modestly to X tons, remaining constant against 2020 figures. The total import volume increased at an average annual rate of +4.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 with an increase of 12% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports of failed to regain momentum.

In value terms, imports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) soared to $X in 2021. The total import value increased at an average annual rate of +1.4% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey represented the major importer of acrylic polymers, in primary forms (excluding polymethyl methacrylate) in MENA, with the volume of imports amounting to X tons, which was approx. 30% of total imports in 2021. It was distantly followed by Egypt (X tons), Saudi Arabia (X tons), Algeria (X tons), the United Arab Emirates (X tons), Morocco (X tons) and Israel (X tons), together committing a 52% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to acrylic polymers, in primary forms (excluding polymethyl methacrylate) imports into Turkey stood at +4.5%. At the same time, Algeria (+8.8%), Morocco (+5.7%), the United Arab Emirates (+4.2%), Egypt (+3.5%), Saudi Arabia (+3.3%) and Israel (+1.8%) displayed positive paces of growth. Moreover, Algeria emerged as the fastest-growing importer imported in MENA, with a CAGR of +8.8% from 2012-2021. From 2012 to 2021, the share of Algeria increased by +2.5 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported acrylic polymers, in primary forms (excluding polymethyl methacrylate) in MENA, comprising 32% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a 14% share of total imports. It was followed by Egypt, with a 12% share.

In Turkey, imports of acrylic polymers, in primary forms (excluding polymethyl methacrylate) expanded at an average annual rate of +2.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Saudi Arabia (+0.2% per year) and Egypt (+1.3% per year).

Import Prices by Country

In 2021, the import price in MENA amounted to $X per ton, jumping by 16% against the previous year. Overall, the import price, however, saw a pronounced decline. Over the period under review, import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

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 Israel ($X per ton), while Algeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+2.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform