Middle East: Market for Industrial Monocarboxylic Fatty Acids 2025

Market Size for Industrial Monocarboxylic Fatty Acids in the Middle East

After four years of growth, the Middle Eastern industrial monocarboxylic fatty acids market decreased by -7.2% to $X in 2021. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020, and then fell in the following year.

Production of Industrial Monocarboxylic Fatty Acids in the Middle East

In value terms, industrial monocarboxylic fatty acids production shrank to $X in 2021 estimated in export price. The total production indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -24.7% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 39%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Exports of Industrial Monocarboxylic Fatty Acids

Exports in the Middle East

In 2021, shipments abroad of industrial monocarboxylic fatty acids increased by 191% to X tons, rising for the second year in a row after four years of decline. Over the period under review, exports recorded a resilient expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, industrial monocarboxylic fatty acids exports surged to $X in 2021. Overall, exports enjoyed a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Turkey (X tons) was the largest exporter of industrial monocarboxylic fatty acids, committing 42% of total exports. Iran (X tons) held a 20% share (based on physical terms) of total exports, which put it in second place, followed by Saudi Arabia (20%), Israel (9.6%) and the United Arab Emirates (5.6%). Oman (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to industrial monocarboxylic fatty acids exports from Turkey stood at +14.2%. At the same time, Iran (+74.0%), Saudi Arabia (+24.9%), Oman (+10.1%) and the United Arab Emirates (+7.2%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +74.0% from 2012-2021. Israel experienced a relatively flat trend pattern. From 2012 to 2021, the share of Iran and Saudi Arabia increased by +20 and +11 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X), Saudi Arabia ($X) and Iran ($X) were the countries with the highest levels of exports in 2021, with a combined 82% share of total exports.

In terms of the main exporting countries, Iran, with a CAGR of +65.8%, recorded the highest growth rate of the value of exports, 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, with an increase of 54% against the previous year. Over the period under review, the export price recorded 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.

There were significant differences in the average prices amongst the major exporting countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by Israel (+3.8%), while the other leaders experienced mixed trends in the export price figures.

Imports of Industrial Monocarboxylic Fatty Acids

Imports in the Middle East

In 2021, supplies from abroad of industrial monocarboxylic fatty acids was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Total imports indicated a notable increase from 2012 to 2021: its volume 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, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, industrial monocarboxylic fatty acids imports soared to $X in 2021. Total imports indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +4.2% 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 increased by +126.7% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey was the key importing country with an import of about X tons, which amounted to 54% of total imports. Israel (X tons) took a 30% share (based on physical terms) of total imports, which put it in second place, followed by Saudi Arabia (6.6%) and the United Arab Emirates (5.4%).

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +16.0%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest industrial monocarboxylic fatty acids importing markets in the Middle East were Turkey ($X), Israel ($X) and Saudi Arabia ($X), together comprising 90% of total imports.

In terms of the main importing countries, Turkey, with a CAGR of +13.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in the Middle East amounted to $X per ton, jumping by 18% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.2%. The growth pace was the most rapid in 2018 an increase of 29%. Over the period under review, import prices reached the peak figure in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+3.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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