MENA: Market for Palmitic Acid, Stearic Acid, Their Salts And Esters 2024

Market Size for Palmitic Acid, Stearic Acid, Their Salts And Esters in MENA

After three years of decline, the MENA's market for palmitic acid, stearic acid, their salts and esters increased by 1.7% to $X in 2021. Overall, consumption recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the market value increased by 9.7% against the previous year. The level of consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Production of Palmitic Acid, Stearic Acid, Their Salts And Esters in MENA

In value terms, production of palmitic acid, stearic acid, their salts and esters totaled $X in 2021 estimated in export price. Over the period under review, production, however, saw a perceptible reduction. The pace of growth appeared the most rapid in 2016 with an increase of 15%. Over the period under review, production of attained the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Palmitic Acid, Stearic Acid, Their Salts And Esters

Exports in MENA

In 2021, approx. X tons of palmitic acid, stearic acid, their salts and esters were exported in MENA; increasing by 13% on the previous year's figure. Over the period under review, exports posted a prominent expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 43%. Over the period under review, the exports of attained the maximum in 2021 and are likely to see gradual growth in the near future.

In value terms, exports of palmitic acid, stearic acid, their salts and esters skyrocketed to $X in 2021. Overall, exports showed a buoyant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey was the key exporter of palmitic acid, stearic acid, their salts and esters in MENA, with the volume of exports finishing at X tons, which was near 63% of total exports in 2021. It was distantly followed by the United Arab Emirates (X tons), constituting a 36% share of total exports.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +28.5%).

In value terms, Turkey ($X) remains the largest palmitic acid, stearic acid, their salts and esters supplier in MENA, comprising 79% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 20% share of total exports.

In Turkey, exports of palmitic acid, stearic acid, their salts and esters expanded at an average annual rate of +10.1% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, jumping by 27% against the previous year. In general, the export price showed a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the United Arab Emirates totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+2.6%).

Imports of Palmitic Acid, Stearic Acid, Their Salts And Esters

Imports in MENA

In 2021, approx. X tons of palmitic acid, stearic acid, their salts and esters were imported in MENA; falling by -10.9% compared with the previous year's figure. Total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -30.9% against 2017 indices. The most prominent rate of growth was recorded in 2014 with an increase of 53%. Over the period under review, imports of hit record highs at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, imports of palmitic acid, stearic acid, their salts and esters totaled $X in 2021. Total imports indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when imports increased by 34%. As a result, imports attained the peak of $X. From 2018 to 2021, the growth of imports of failed to regain momentum.

Imports by Country

Saudi Arabia represented the major importing country with an import of around X tons, which finished at 48% of total imports. The United Arab Emirates (X tons) ranks second in terms of the total imports with an 11% share, followed by Turkey (8.6%), Israel (6.3%), Bahrain (5.8%) and Egypt (5.1%). Djibouti (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to palmitic acid, stearic acid, their salts and esters imports into Saudi Arabia stood at +8.3%. At the same time, Bahrain (+40.6%), Djibouti (+19.6%), Israel (+12.9%), Egypt (+9.4%), the United Arab Emirates (+5.0%) and Turkey (+4.6%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in MENA, with a CAGR of +40.6% from 2012-2021. While the share of Saudi Arabia (+10 p.p.), Bahrain (+5.4 p.p.), Israel (+2.9 p.p.) and Djibouti (+2.5 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported palmitic acid, stearic acid, their salts and esters in MENA, comprising 48% of total imports. The second position in the ranking was held by Turkey ($X), with an 11% share of total imports. It was followed by the United Arab Emirates, with an 8.3% share.

From 2012 to 2021, the average annual growth rate of value in Saudi Arabia totaled +7.2%. In the other countries, the average annual rates were as follows: Turkey (+4.4% per year) and the United Arab Emirates (+3.1% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2021, increasing by 27% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Turkey ($X per ton), while Djibouti ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bahrain (+3.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform