Middle East: Monocarboxylic Acid Market 2025

Monocarboxylic Acid Market Size in the Middle East

The Middle Eastern monocarboxylic acid market reduced slightly to $X in 2022, stabilizing at the previous year. The total consumption indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -4.5% against 2019 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Monocarboxylic Acid Production in the Middle East

In value terms, monocarboxylic acid production fell modestly to $X in 2022 estimated in export price. The total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +4.0% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 32% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Monocarboxylic Acid Exports

Exports in the Middle East

In 2022, exports of acrylic acid and its salts and other monocarboxylic acid in the Middle East declined notably to X tons, reducing by -18.2% on the previous year. Overall, exports, however, showed significant growth. The growth pace was the most rapid in 2013 when exports increased by 319% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then plummeted in the following year.

In value terms, monocarboxylic acid exports declined dramatically to $X in 2022. Over the period under review, exports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 259%. The level of export peaked at $X in 2021, and then reduced sharply in the following year.

Exports by Country

The biggest shipments were from Saudi Arabia (X tons), together recording 98% of total export.

Saudi Arabia was also the fastest-growing in terms of the acrylic acid and its salts and other monocarboxylic acid exports, with a CAGR of +44.5% from 2012 to 2022. Saudi Arabia (+27 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, Saudi Arabia ($X) also remains the largest monocarboxylic acid supplier in the Middle East.

In Saudi Arabia, monocarboxylic acid exports increased at an average annual rate of +42.6% over the period from 2012-2022.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, remaining stable against the previous year. In general, the export price, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2021 an increase of 32%. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Saudi Arabia.

From 2012 to 2022, the rate of growth in terms of prices for Saudi Arabia amounted to -1.4% per year.

Monocarboxylic Acid Imports

Imports in the Middle East

In 2022, approx. X tons of acrylic acid and its salts and other monocarboxylic acid were imported in the Middle East; dropping by -33.6% on 2021. Total imports indicated slight growth from 2012 to 2022: its volume increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 with an increase of 29%. The volume of import peaked at X tons in 2021, and then fell significantly in the following year.

In value terms, monocarboxylic acid imports rose remarkably to $X in 2022. Over the period under review, imports, however, continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 56% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the immediate term.

Imports by Country

Turkey was the key importer of acrylic acid and its salts and other monocarboxylic acid in the Middle East, with the volume of imports amounting to X tons, which was near 65% of total imports in 2022. It was distantly followed by the United Arab Emirates (X tons) and Saudi Arabia (X tons), together achieving a 28% share of total imports. Israel (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to monocarboxylic acid imports into Turkey stood at +6.0%. At the same time, the United Arab Emirates (+20.8%) and Israel (+3.0%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +20.8% from 2012-2022. By contrast, Saudi Arabia (-11.7%) illustrated a downward trend over the same period. Turkey (+24 p.p.) and the United Arab Emirates (+13 p.p.) significantly strengthened its position in terms of the total imports, while Saudi Arabia saw its share reduced by -35.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported acrylic acid and its salts and other monocarboxylic acid in the Middle East, comprising 53% of total imports. The second position in the ranking was taken by Israel ($X), with a 24% share of total imports. It was followed by the United Arab Emirates, with an 11% share.

In Turkey, monocarboxylic acid imports expanded at an average annual rate of +8.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Israel (+23.6% per year) and the United Arab Emirates (+19.0% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, jumping by 62% against the previous year. Import price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, monocarboxylic acid import price increased by +108.3% against 2020 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+20.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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