MENA: Industrial Stearic Acid Market 2024

Industrial Stearic Acid Market Size in MENA

The MENA's industrial stearic acid market skyrocketed to $X in 2021, jumping by 44% against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Industrial Stearic Acid Production in MENA

In value terms, industrial stearic acid production contracted to $X in 2021 estimated in export price. In general, production, however, continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2020 when the production volume increased by 20% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Industrial Stearic Acid Exports

Exports in MENA

For the third year in a row, MENA recorded growth in overseas shipments of industrial stearic acid, which increased by 60% to X tons in 2021. Overall, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2015 with an increase of 148% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are likely to see steady growth in years to come.

In value terms, industrial stearic acid exports surged to $X in 2021. Over the period under review, exports continue to indicate resilient growth. The pace of growth appeared the most rapid in 2015 when exports increased by 99% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

The United Arab Emirates dominates exports structure, accounting for X tons, which was near 92% of total exports in 2021. It was distantly followed by Turkey (X tons), committing a 7.3% share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the industrial stearic acid exports, with a CAGR of +31.9% from 2012 to 2021. At the same time, Turkey (+13.0%) displayed positive paces of growth. The United Arab Emirates (+33 p.p.) significantly strengthened its position in terms of the total exports, while Turkey saw its share reduced by -11.5% from 2012 to 2021, respectively.

In value terms, the United Arab Emirates ($X) remains the largest industrial stearic acid supplier in MENA, comprising 81% of total exports. The second position in the ranking was held by Turkey ($X), with a 17% share of total exports.

In the United Arab Emirates, industrial stearic acid exports expanded at an average annual rate of +20.8% over the period from 2012-2021.

Export Prices by Country

The export price in MENA stood at $X per ton in 2021, shrinking by -3.3% against the previous year. Overall, the export price recorded a abrupt decline. The most prominent rate of growth was recorded in 2017 an increase of 6.3%. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Turkey ($X per ton), while the United Arab Emirates amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+0.1%).

Industrial Stearic Acid Imports

Imports in MENA

Industrial stearic acid imports skyrocketed to X tons in 2021, rising by 56% against 2020 figures. Total imports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, industrial stearic acid imports skyrocketed to $X in 2021. Overall, imports enjoyed prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Turkey (X tons) was the major importer of industrial stearic acid, comprising 62% of total imports. Iran (X tons) held the second position in the ranking, distantly followed by Egypt (X tons) and the United Arab Emirates (X tons). All these countries together took near 33% share of total imports. Israel (X tons) held a little share of total imports.

Imports into Turkey increased at an average annual rate of +6.4% from 2012 to 2021. At the same time, the United Arab Emirates (+17.2%), Egypt (+14.2%), Iran (+7.1%) and Israel (+6.5%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in MENA, with a CAGR of +17.2% from 2012-2021. Egypt (+3.7 p.p.) and the United Arab Emirates (+2.7 p.p.) significantly strengthened its position in terms of the total imports, while Turkey saw its share reduced by -4.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported industrial stearic acid in MENA, comprising 66% of total imports. The second position in the ranking was taken by Iran ($X), with a 17% share of total imports. It was followed by Egypt, with a 9.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Turkey totaled +7.8%. The remaining importing countries recorded the following average annual rates of imports growth: Iran (+6.9% per year) and Egypt (+13.7% per year).

Import Prices by Country

In 2021, the import price in MENA amounted to $X per ton, increasing by 47% against the previous year. In general, the import price showed a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Egypt ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+1.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform