MENA: Ethyl Acetate Market 2024

Ethyl Acetate Market Size in MENA

The MENA's ethyl acetate market declined significantly to $X in 2021, waning by -20.4% against the previous year. Over the period under review, consumption saw a noticeable descent. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Ethyl Acetate Production in MENA

In value terms, ethyl acetate production shrank to $X in 2021 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 44%. Over the period under review, production hit record highs at $X in 2020, and then declined in the following year.

Ethyl Acetate Exports

Exports in MENA

Ethyl acetate exports surged to X tons in 2021, picking up by 25% on 2020 figures. Total exports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +7.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +68.5% against 2017 indices. The pace of growth was the most pronounced in 2014 with an increase of 105%. Over the period under review, the exports attained the peak figure in 2021 and are likely to see gradual growth in the near future.

In value terms, ethyl acetate exports soared to $X in 2021. Over the period under review, exports enjoyed strong growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Saudi Arabia (X tons) represented the major exporter of ethyl acetate, making up 58% of total exports. It was distantly followed by Turkey (X tons), constituting a 38% share of total exports. The United Arab Emirates (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Turkey (with a CAGR of +32.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest ethyl acetate supplying countries in MENA were Saudi Arabia ($X), Turkey ($X) and the United Arab Emirates ($X), with a combined 99% share of total exports.

Turkey, with a CAGR of +35.1%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in MENA stood at $X per ton in 2021, with an increase of 68% against the previous year. Export price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+5.2%), while the other leaders experienced more modest paces of growth.

Ethyl Acetate Imports

Imports in MENA

In 2021, ethyl acetate imports in MENA shrank to X tons, reducing by -7% against the year before. In general, imports saw a noticeable descent. The most prominent rate of growth was recorded in 2018 with an increase of 17%. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, ethyl acetate imports surged to $X in 2021. Overall, imports, however, recorded a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey represented the main importing country with an import of around X tons, which amounted to 43% of total imports. The United Arab Emirates (X tons) ranks second in terms of the total imports with a 22% share, followed by Egypt (15%). The following importers - Israel (X tons), Algeria (X tons), Tunisia (X tons) and Jordan (X tons) - each recorded a 12% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Egypt (with a CAGR of +5.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) constitutes the largest market for imported ethyl acetate in MENA, comprising 44% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 20% share of total imports. It was followed by Egypt, with a 17% share.

In Turkey, ethyl acetate imports expanded at an average annual rate of +1.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the United Arab Emirates (-0.9% per year) and Egypt (+7.1% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2021, increasing by 68% against the previous year. Import price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Algeria ($X per ton) and Egypt ($X per ton), while Tunisia ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+3.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform