Saudi Arabia: Acrylic Acid Esters Market 2024

Acrylic Acid Esters Market Size in Saudi Arabia

The Saudi acrylic acid esters market was estimated at $X in 2022, growing by 5.4% against the previous year. Over the period under review, consumption recorded a buoyant increase. Acrylic acid esters consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Acrylic Acid Esters Production in Saudi Arabia

In value terms, acrylic acid esters production totaled $X in 2022 estimated in export price. In general, production posted buoyant growth. The most prominent rate of growth was recorded in 2014 when the production volume increased by 148%. Acrylic acid esters production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Acrylic Acid Esters Exports

Exports from Saudi Arabia

Acrylic acid esters exports from Saudi Arabia declined markedly to X tons in 2022, falling by -23.3% against the year before. In general, exports, however, posted significant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 27,344%. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, acrylic acid esters exports reduced sharply to $X in 2022. Over the period under review, exports, however, continue to indicate a significant increase. The pace of growth appeared the most rapid in 2014 with an increase of 25,982% against the previous year. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Kuwait (X tons) was the main destination for acrylic acid esters exports from Saudi Arabia, with a 47% share of total exports. Moreover, acrylic acid esters exports to Kuwait exceeded the volume sent to the second major destination, Egypt (X tons), twofold. The third position in this ranking was held by Bangladesh (X tons), with a 9.3% share.

From 2013 to 2022, the average annual rate of growth in terms of volume to Kuwait amounted to -15.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (+69.4% per year) and Bangladesh (-15.0% per year).

In value terms, Kuwait ($X) remains the key foreign market for esters of acrylic acid exports from Saudi Arabia, comprising 42% of total exports. The second position in the ranking was taken by Egypt ($X), with a 20% share of total exports. It was followed by Tunisia, with a 12% share.

From 2013 to 2022, the average annual growth rate of value to Kuwait amounted to -4.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (+71.5% per year) and Tunisia (+18.1% per year).

Export Prices by Country

In 2022, the average acrylic acid esters export price amounted to $X per ton, waning by -3.8% against the previous year. In general, the export price continues to indicate a noticeable decline. The most prominent rate of growth was recorded in 2021 an increase of 36% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Morocco ($X per ton), while the average price for exports to Kuwait ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kuwait (+13.5%), while the prices for the other major destinations experienced more modest paces of growth.

Acrylic Acid Esters Imports

Imports into Saudi Arabia

After two years of growth, purchases abroad of esters of acrylic acid decreased by -7.3% to X tons in 2022. Over the period under review, imports saw a abrupt downturn. The most prominent rate of growth was recorded in 2016 when imports increased by 62% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, acrylic acid esters imports fell markedly to $X in 2022. In general, imports recorded a deep reduction. The growth pace was the most rapid in 2017 when imports increased by 180%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Singapore (X tons), Belgium (X tons) and China (X tons) were the main suppliers of acrylic acid esters imports to Saudi Arabia, together comprising 88% of total imports.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +19.6%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Singapore ($X), China ($X) and Belgium ($X) were the largest acrylic acid esters suppliers to Saudi Arabia, together accounting for 86% of total imports.

Singapore, with a CAGR of +15.8%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average acrylic acid esters import price stood at $X per ton in 2022, with a decrease of -13.3% against the previous year. Over the period under review, the import price continues to indicate a pronounced decrease. The pace of growth was the most pronounced in 2017 when the average import price increased by 83%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+9.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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