MENA: Polycarboxylic Acid Market 2024

Polycarboxylic Acid Market Size in MENA

The MENA's polycarboxylic acid market surged to $X in 2022, increasing by 15% against the previous year. The total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +58.0% against 2020 indices. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.

Polycarboxylic Acid Production in MENA

In value terms, polycarboxylic acid production shrank to $X in 2022 estimated in export price. Over the period under review, production recorded a mild decrease. The most prominent rate of growth was recorded in 2021 when the production volume increased by 13% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Polycarboxylic Acid Exports

Exports in MENA

In 2022, the amount of polycarboxylic acids exported in MENA rose to X tons, growing by 2.3% on the previous year. Over the period under review, exports continue to indicate a temperate expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 43%. The volume of export peaked in 2022 and is likely to see steady growth in the immediate term.

In value terms, polycarboxylic acid exports rose sharply to $X in 2022. In general, exports recorded a pronounced increase. The growth pace was the most rapid in 2021 when exports increased by 104% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

In 2022, Turkey (X tons) represented the main exporter of polycarboxylic acids, committing 58% of total exports. The United Arab Emirates (X tons) held a 20% share (based on physical terms) of total exports, which put it in second place, followed by Israel (12%) and Iran (7.4%).

From 2012 to 2022, average annual rates of growth with regard to polycarboxylic acid exports from Turkey stood at +13.1%. At the same time, the United Arab Emirates (+14.4%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in MENA, with a CAGR of +14.4% from 2012-2022. By contrast, Israel (-2.4%) and Iran (-13.9%) illustrated a downward trend over the same period. Turkey (+34 p.p.) and the United Arab Emirates (+13 p.p.) significantly strengthened its position in terms of the total exports, while Israel and Iran saw its share reduced by -9.2% and -39% from 2012 to 2022, respectively.

In value terms, Turkey ($X) remains the largest polycarboxylic acid supplier in MENA, comprising 72% of total exports. The second position in the ranking was taken by Israel ($X), with an 11% share of total exports. It was followed by the United Arab Emirates, with a 9% share.

From 2012 to 2022, the average annual growth rate of value in Turkey amounted to +14.9%. In the other countries, the average annual rates were as follows: Israel (-2.5% per year) and the United Arab Emirates (+8.6% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, picking up by 4.1% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the export price increased by 43%. The level of export peaked in 2022 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 ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+1.6%), while the other leaders experienced a decline in the export price figures.

Polycarboxylic Acid Imports

Imports in MENA

For the fifth consecutive year, MENA recorded growth in supplies from abroad of polycarboxylic acids, which increased by 23% to X tons in 2022. Over the period under review, imports showed strong growth. The most prominent rate of growth was recorded in 2013 when imports increased by 28%. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in years to come.

In value terms, polycarboxylic acid imports skyrocketed to $X in 2022. Overall, imports saw a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of 73%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

Turkey represented the major importing country with an import of around X tons, which finished at 58% of total imports. Oman (X tons) took the second position in the ranking, followed by Egypt (X tons) and Saudi Arabia (X tons). All these countries together took near 37% share of total imports. The United Arab Emirates (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to polycarboxylic acid imports into Turkey stood at +18.3%. At the same time, Egypt (+23.4%), Saudi Arabia (+14.5%) and Oman (+6.5%) displayed positive paces of growth. Moreover, Egypt emerged as the fastest-growing importer imported in MENA, with a CAGR of +23.4% from 2012-2022. By contrast, the United Arab Emirates (-11.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey, Egypt and Saudi Arabia increased by +27, +6.9 and +2.5 percentage points, respectively.

In value terms, Turkey ($X) constitutes the largest market for imported polycarboxylic acids in MENA, comprising 60% of total imports. The second position in the ranking was held by Egypt ($X), with a 13% share of total imports. It was followed by Oman, with an 11% share.

In Turkey, polycarboxylic acid imports expanded at an average annual rate of +15.3% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Egypt (+19.7% per year) and Oman (+0.4% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, leveling off at the previous year. In general, the import price showed a pronounced decline. The most prominent rate of growth was recorded in 2021 an increase of 49% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Egypt ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+0.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform