Middle East: Market for Salts Of Acetic Acid 2024

Market Size for Salts Of Acetic Acid in the Middle East

The Middle Eastern salts of acetic acid market reached $X in 2022, increasing by 6.2% against the previous year. The total consumption indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Production of Salts Of Acetic Acid in the Middle East

In value terms, salts of acetic acid production stood at $X in 2022 estimated in export price. Overall, production showed a abrupt decline. The most prominent rate of growth was recorded in 2017 with an increase of 36% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Salts Of Acetic Acid

Exports in the Middle East

Salts of acetic acid exports plummeted to X tons in 2022, which is down by -44.8% against the previous year. Overall, exports recorded a dramatic descent. The most prominent rate of growth was recorded in 2014 when exports increased by 5,219% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, salts of acetic acid exports reduced to $X in 2022. In general, exports saw a sharp downturn. The most prominent rate of growth was recorded in 2014 when exports increased by 1,893% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Turkey (X tons) was the key exporter of salts of acetic acid, committing 36% of total exports. Oman (X tons) ranks second in terms of the total exports with an 18% share, followed by Iran (17%), Israel (16%) and the United Arab Emirates (11%). Lebanon (X tons) followed a long way behind the leaders.

Exports from Turkey decreased at an average annual rate of -2.5% from 2012 to 2022. At the same time, Iran (+36.0%) and Israel (+29.7%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +36.0% from 2012-2022. By contrast, Oman (-5.0%), Lebanon (-8.3%) and the United Arab Emirates (-9.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey, Oman, Iran, Israel, the United Arab Emirates and Lebanon increased by +36, +18, +17, +16, +11 and +1.6 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X), Israel ($X) and Iran ($X) were the countries with the highest levels of exports in 2022, together comprising 81% of total exports.

Among the main exporting countries, Iran, with a CAGR of +31.9%, recorded the highest rates of growth with regard to 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

The export price in the Middle East stood at $X per ton in 2022, picking up by 60% against the previous year. In general, the export price recorded a remarkable increase. The pace of growth was the most pronounced in 2017 when the export price increased by 208% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: 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 2022, the most notable rate of growth in terms of prices was attained by Turkey (+8.4%), while the other leaders experienced mixed trends in the export price figures.

Imports of Salts Of Acetic Acid

Imports in the Middle East

In 2022, imports of salts of acetic acid in the Middle East was estimated at X tons, picking up by 4.8% on 2021. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 50% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, salts of acetic acid imports surged to $X in 2022. Over the period under review, imports, however, saw a pronounced reduction. The pace of growth appeared the most rapid in 2018 when imports increased by 62% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Turkey (X tons) was the major importer of salts of acetic acid, constituting 45% of total imports. The United Arab Emirates (X tons) took the second position in the ranking, followed by Iran (X tons), Israel (X tons) and Kuwait (X tons). All these countries together held near 48% share of total imports. Syrian Arab Republic (X tons) and Jordan (X tons) held a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to salts of acetic acid imports into Turkey stood at +4.6%. At the same time, Kuwait (+29.0%), Jordan (+16.0%), Israel (+2.6%) and the United Arab Emirates (+1.4%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +29.0% from 2012-2022. By contrast, Iran (-5.8%) and Syrian Arab Republic (-5.9%) illustrated a downward trend over the same period. While the share of Turkey (+17 p.p.), Kuwait (+5.7 p.p.), Israel (+3 p.p.) and the United Arab Emirates (+2.7 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Syrian Arab Republic (-2.6 p.p.) and Iran (-10 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported salts of acetic acid in the Middle East, comprising 49% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 17% share of total imports. It was followed by Israel, with a 14% share.

In Turkey, salts of acetic acid imports expanded at an average annual rate of +2.3% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (-3.9% per year) and Israel (+4.0% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, with an increase of 9.8% against the previous year. Overall, the import price, however, recorded a perceptible reduction. The pace of growth was the most pronounced in 2018 an increase of 23% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Syrian Arab Republic (+15.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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