Middle East: Ethyl Acetate Market 2024

Ethyl Acetate Market Size in the Middle East

The Middle Eastern ethyl acetate market contracted significantly to $X in 2021, with a decrease of -24.4% against the previous year. In general, consumption recorded a deep slump. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Ethyl Acetate Production in the Middle East

In value terms, ethyl acetate production reduced to $X in 2021 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 44% against the previous year. The level of production peaked at $X in 2020, and then contracted in the following year.

Ethyl Acetate Exports

Exports in the Middle East

Ethyl acetate exports surged to X tons in 2021, rising by 25% compared with the year before. Total exports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +7.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +68.9% against 2017 indices. The most prominent rate of growth was recorded in 2014 when exports increased by 105% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in years to come.

In value terms, ethyl acetate exports skyrocketed to $X in 2021. Over the period under review, exports showed a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Saudi Arabia (X tons) represented the main exporter of ethyl acetate, mixing up 58% of total exports. It was distantly followed by Turkey (X tons), making up a 38% share of total exports. The United Arab Emirates (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Turkey (with a CAGR of +32.7%), while the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), Turkey ($X) and the United Arab Emirates ($X) were the countries with the highest levels of exports in 2021, together comprising 99% of total exports.

Turkey, with a CAGR of +35.1%, 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 2021, the export price in the Middle East amounted to $X per ton, jumping by 68% against the previous year. Export price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+5.2%), while the other leaders experienced more modest paces of growth.

Ethyl Acetate Imports

Imports in the Middle East

For the third year in a row, the Middle East recorded decline in supplies from abroad of ethyl acetate, which decreased by -4% to X tons in 2021. In general, imports showed a perceptible descent. The most prominent rate of growth was recorded in 2018 when imports increased by 14% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, ethyl acetate imports skyrocketed to $X in 2021. Overall, imports showed a relatively flat trend pattern. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Turkey represented the main importing country with an import of around X tons, which resulted at 56% of total imports. It was distantly followed by the United Arab Emirates (X tons), achieving a 29% share of total imports. Israel (X tons), Jordan (X tons) and Lebanon (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Jordan (with a CAGR of +1.7%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, Turkey ($X) constitutes the largest market for imported ethyl acetate in the Middle East, comprising 59% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 26% share of total imports. It was followed by Israel, with a 4.8% share.

From 2012 to 2021, the average annual growth rate of value in Turkey amounted to +1.5%. In the other countries, the average annual rates were as follows: the United Arab Emirates (-0.9% per year) and Israel (-7.7% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2021, picking up by 71% against the previous year. Import price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Israel ($X per ton) and Lebanon ($X per ton), while the United Arab Emirates ($X per ton) and Jordan ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+3.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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