Middle East: Market for Lauric Acid And Other Acids, Their Salts And Esters 2024

Market Size for Lauric Acid And Other Acids, Their Salts And Esters in the Middle East

In 2021, after four years of growth, there was decline in the Middle Eastern market for lauric acid and other acids, their salts and esters, when its value decreased by -3.6% to $X. The total consumption indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +88.7% against 2016 indices. Over the period under review, the market hit record highs at $X in 2020, and then shrank modestly in the following year.

Production of Lauric Acid And Other Acids, Their Salts And Esters in the Middle East

In value terms, production of lauric acid and other acids, their salts and esters shrank to $X in 2021 estimated in export price. The total production indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +113.9% against 2016 indices. The pace of growth was the most pronounced in 2017 with an increase of 41%. The level of production peaked at $X in 2020, and then dropped in the following year.

Exports of Lauric Acid And Other Acids, Their Salts And Esters

Exports in the Middle East

For the third consecutive year, the Middle East recorded growth in overseas shipments of lauric acid and other acids, their salts and esters, which increased by 39% to X tons in 2021. Total exports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +8.5% 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 +62.4% against 2018 indices. The most prominent rate of growth was recorded in 2013 with an increase of 50% against the previous year. The volume of export peaked in 2021 and is likely to continue growth in the immediate term.

In value terms, exports of lauric acid and other acids, their salts and esters skyrocketed to $X in 2021. Overall, exports continue to indicate prominent growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Israel (X tons) represented the key exporter of lauric acid and other acids, their salts and esters, making up 56% of total exports. Turkey (X tons) held a 34% share (based on physical terms) of total exports, which put it in second place, followed by the United Arab Emirates (4.7%). Iran (X tons) held a minor share of total exports.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +18.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Israel ($X), Turkey ($X) and the United Arab Emirates ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 97% share of total exports.

Turkey, with a CAGR of +24.0%, recorded the highest growth rate of 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, surging by 17% against the previous year. Over the last nine years, it increased at an average annual rate of +1.7%. 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, the country with the highest price was Turkey ($X per ton), while Iran ($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 (+4.5%), while the other leaders experienced mixed trends in the export price figures.

Imports of Lauric Acid And Other Acids, Their Salts And Esters

Imports in the Middle East

For the third year in a row, the Middle East recorded growth in supplies from abroad of lauric acid and other acids, their salts and esters, which increased by 7.8% to X tons in 2021. The total import volume increased at an average annual rate of +4.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 19%. Over the period under review, imports of attained the maximum in 2021 and are likely to see steady growth in the immediate term.

In value terms, imports of lauric acid and other acids, their salts and esters soared to $X in 2021. Total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +58.5% against 2016 indices. As a result, imports attained 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 lauric acid and other acids, their salts and esters, constituting 43% of total imports. It was distantly followed by the United Arab Emirates (X tons), Israel (X tons), Saudi Arabia (X tons) and Iran (X tons), together making up a 53% share of total imports. Qatar (X tons) held a relatively small share of total imports.

Turkey was also the fastest-growing in terms of the lauric acid and other acids, their salts and esters imports, with a CAGR of +9.5% from 2012 to 2021. At the same time, Iran (+5.9%), the United Arab Emirates (+3.1%) and Qatar (+2.1%) displayed positive paces of growth. Saudi Arabia and Israel experienced a relatively flat trend pattern. From 2012 to 2021, the share of Turkey increased by +15 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest lauric acid and other acids, their salts and esters importing markets in the Middle East were Turkey ($X), the United Arab Emirates ($X) and Israel ($X), with a combined 80% share of total imports.

The United Arab Emirates, with a CAGR of +10.8%, 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

The import price in the Middle East stood at $X per ton in 2021, with an increase of 15% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.6%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Qatar ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+7.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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