Middle East: Industrial Stearic Acid Market 2024

Industrial Stearic Acid Market Size in the Middle East

The Middle Eastern industrial stearic acid market skyrocketed to $X in 2021, picking up by 62% against the previous year. The total consumption indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +2.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +69.0% against 2019 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Industrial Stearic Acid Production in the Middle East

In value terms, industrial stearic acid production dropped to $X in 2021 estimated in export price. Overall, production, however, saw a abrupt setback. The most prominent rate of growth was recorded in 2020 with an increase of 15%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Industrial Stearic Acid Exports

Exports in the Middle East

Industrial stearic acid exports surged to X tons in 2021, rising by 60% compared with 2020 figures. In general, exports posted a significant expansion. The growth pace was the most rapid in 2015 when exports increased by 211%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, industrial stearic acid exports surged to $X in 2021. Overall, exports continue to indicate strong growth. The most prominent rate of growth was recorded in 2015 with an increase of 134%. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in years to come.

Exports by Country

The United Arab Emirates dominates exports structure, reaching X tons, which was near 92% of total exports in 2021. It was distantly followed by Turkey (X tons), mixing up a 7.4% share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the industrial stearic acid exports, with a CAGR of +31.9% from 2012 to 2021. At the same time, Turkey (+13.0%) displayed positive paces of growth. From 2012 to 2021, the share of the United Arab Emirates increased by +33 percentage points.

In value terms, the United Arab Emirates ($X) remains the largest industrial stearic acid supplier in the Middle East, comprising 82% of total exports. The second position in the ranking was taken by Turkey ($X), with a 17% share of total exports.

In the United Arab Emirates, industrial stearic acid exports increased at an average annual rate of +20.8% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per ton, with a decrease of -3.5% against the previous year. In general, the export price saw a abrupt setback. The pace of growth was the most pronounced in 2017 an increase of 5.8%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Turkey ($X per ton), while the United Arab Emirates totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+0.1%).

Industrial Stearic Acid Imports

Imports in the Middle East

In 2021, imports of industrial stearic acid in the Middle East soared to X tons, picking up by 57% against the previous year. Total imports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +6.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +81.8% against 2015 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, industrial stearic acid imports surged to $X in 2021. In general, imports posted a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Turkey (X tons) represented the major importer of industrial stearic acid, generating 69% of total imports. Iran (X tons) held the second position in the ranking, distantly followed by the United Arab Emirates (X tons). All these countries together took near 27% share of total imports. Israel (X tons) took a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to industrial stearic acid imports into Turkey stood at +6.4%. At the same time, the United Arab Emirates (+17.2%), Iran (+7.1%) and Israel (+6.5%) 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 +17.2% from 2012-2021. From 2012 to 2021, the share of the United Arab Emirates increased by +3.1 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported industrial stearic acid in the Middle East, comprising 74% of total imports. The second position in the ranking was held by Iran ($X), with a 19% share of total imports. It was followed by the United Arab Emirates, with a 2.9% share.

From 2012 to 2021, the average annual growth rate of value in Turkey stood at +7.8%. In the other countries, the average annual rates were as follows: Iran (+6.9% per year) and the United Arab Emirates (+10.0% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2021, increasing by 51% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Israel ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+1.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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