MENA: Market for Salts Of Acetic Acid 2024

Market Size for Salts Of Acetic Acid in MENA

The MENA's salts of acetic acid market expanded notably to $X in 2022, growing by 11% against the previous year. The market value increased at an average annual rate of +3.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Production of Salts Of Acetic Acid in MENA

In value terms, salts of acetic acid production expanded to $X in 2022 estimated in export price. Overall, production recorded a deep setback. The pace of growth appeared the most rapid in 2017 when the production volume increased by 36%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Salts Of Acetic Acid

Exports in MENA

Salts of acetic acid exports dropped remarkably to X tons in 2022, which is down by -44.9% on the previous year. In general, exports continue to indicate a significant curtailment. The most prominent rate of growth was recorded in 2014 with an increase of 5,132% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, salts of acetic acid exports reduced to $X in 2022. Overall, exports faced a sharp descent. The pace of growth appeared the most rapid in 2014 with an increase of 1,787%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Turkey was the major exporting country with an export of around X tons, which resulted at 36% of total exports. Oman (X tons) ranks second in terms of the total exports with an 18% share, followed by Iran (17%), Israel (16%) and the United Arab Emirates (11%). Lebanon (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to salts of acetic acid exports from Turkey stood at -2.5%. At the same time, Iran (+36.0%) and Israel (+29.7%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing exporter exported in MENA, with a CAGR of +36.0% from 2012-2022. By contrast, Oman (-5.0%), Lebanon (-8.3%) and the United Arab Emirates (-9.1%) illustrated a downward trend over the same period. Turkey (+36 p.p.), Oman (+18 p.p.), Iran (+17 p.p.), Israel (+16 p.p.), the United Arab Emirates (+10 p.p.) and Lebanon (+1.6 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X), Israel ($X) and Iran ($X) appeared to be the countries with the highest levels of exports in 2022, together accounting for 81% of total exports.

Iran, with a CAGR of +31.9%, recorded the highest rates of growth with regard to 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

In 2022, the export price in MENA amounted to $X per ton, with an increase of 60% against the previous year. Over the period under review, the export price saw a remarkable increase. The pace of growth was the most pronounced in 2017 an increase of 206% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2019; afterwards, it flattened through to 2022.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Israel ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+8.4%), while the other leaders experienced mixed trends in the export price figures.

Imports of Salts Of Acetic Acid

Imports in MENA

In 2022, purchases abroad of salts of acetic acid increased by 18% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, continue to indicate a mild slump. The pace of growth was the most pronounced in 2015 with an increase of 36%. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, salts of acetic acid imports soared to $X in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when imports increased by 40%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Turkey (X tons), distantly followed by Egypt (X tons), the United Arab Emirates (X tons), Iran (X tons), Israel (X tons) and Kuwait (X tons) were the key importers of salts of acetic acid, together comprising 89% of total imports. Syrian Arab Republic (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Kuwait (with a CAGR of +29.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest salts of acetic acid importing markets in MENA were Turkey ($X), Egypt ($X) and the United Arab Emirates ($X), together comprising 71% of total imports. Israel, Iran, Syrian Arab Republic and Kuwait lagged somewhat behind, together accounting for a further 21%.

Kuwait, with a CAGR of +11.5%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in MENA amounted to $X per ton, with an increase of 12% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by 19% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Syrian Arab Republic (+15.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform