Middle East: Market for Saturated Acyclic Monocarboxylic Acids 2024

Market Size for Saturated Acyclic Monocarboxylic Acids in the Middle East

In 2022, the Middle Eastern saturated acyclic monocarboxylic acids market increased by X% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Saturated Acyclic Monocarboxylic Acids in the Middle East

In value terms, saturated acyclic monocarboxylic acids production shrank slightly to $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X%. The level of production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Exports of Saturated Acyclic Monocarboxylic Acids

Exports in the Middle East

For the fifth year in a row, the Middle East recorded growth in overseas shipments of saturated acyclic monocarboxylic acids, which increased by X% to X tons in 2022. The total export volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, saturated acyclic monocarboxylic acids exports contracted to $X in 2022. Overall, exports showed a strong increase. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, the exports reached the peak of $X, and then reduced in the following year.

Exports by Country

In 2022, Saudi Arabia (X tons) represented the main exporter of saturated acyclic monocarboxylic acids, comprising X% of total exports. Turkey (X tons) took the second position in the ranking, followed by Iran (X tons). All these countries together held near X% share of total exports. The United Arab Emirates (X tons) followed a long way behind the leaders.

Saudi Arabia experienced a relatively flat trend pattern with regard to volume of exports of saturated acyclic monocarboxylic acids. At the same time, Turkey (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2022. Iran experienced a relatively flat trend pattern. From 2012 to 2022, the share of Turkey and the United Arab Emirates increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest saturated acyclic monocarboxylic acids supplier in the Middle East, comprising X% of total exports. The second position in the ranking was held by Turkey ($X), with a X% share of total exports. It was followed by the United Arab Emirates, with a X% share.

In Saudi Arabia, saturated acyclic monocarboxylic acids exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, declining by X% against the previous year. Export price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, saturated acyclic monocarboxylic acids export price increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2021 an increase of X%. As a result, the export price reached the peak level of $X per ton, and then reduced markedly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the other leaders experienced more modest paces of growth.

Imports of Saturated Acyclic Monocarboxylic Acids

Imports in the Middle East

Saturated acyclic monocarboxylic acids imports fell to X tons in 2022, which is down by X% against 2021. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons, and then declined in the following year.

In value terms, saturated acyclic monocarboxylic acids imports reached $X in 2022. Over the period under review, imports, however, enjoyed a buoyant expansion. The growth pace was the most rapid in 2021 with an increase of X%. The level of import peaked in 2022 and is likely to continue growth in years to come.

Imports by Country

Turkey represented the largest importing country with an import of about X tons, which reached X% of total imports. The United Arab Emirates (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Saudi Arabia (X%) and Israel (X%). Iran (X tons) followed a long way behind the leaders.

Imports into Turkey increased at an average annual rate of X% from 2012 to 2022. At the same time, the United Arab Emirates (X%) and Israel (X%) 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 X% from 2012-2022. Iran experienced a relatively flat trend pattern. By contrast, Saudi Arabia (X%) illustrated a downward trend over the same period. Turkey (X p.p.) and the United Arab Emirates (X p.p.) significantly strengthened its position in terms of the total imports, while Saudi Arabia saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey totaled X%. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Israel (X% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Israel ($X per ton), while Turkey ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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