United Arab Emirates: Carboxylic Acid Market 2024

Carboxylic Acid Market Size in the United Arab Emirates

The carboxylic acid market in the United Arab Emirates soared to $X in 2021, picking up by 41% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption saw a significant increase. Over the period under review, the market attained the maximum level in 2021 and is expected to retain growth in the near future.

Carboxylic Acid Exports

Exports from the United Arab Emirates

In 2021, overseas shipments of carboxylic acid with alcohol, phenol, aldehyde or ketone functions increased by 40% to X tons, rising for the second year in a row after two years of decline. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 55% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, carboxylic acid exports soared to $X in 2021. Overall, exports saw resilient growth. The most prominent rate of growth was recorded in 2013 with an increase of 167%. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Oman (X tons) was the main destination for carboxylic acid exports from the United Arab Emirates, with a 83% share of total exports. Moreover, carboxylic acid exports to Oman exceeded the volume sent to the second major destination, India (X tons), eightfold. The third position in this ranking was taken by Egypt (X tons), with a 3.6% share.

From 2012 to 2021, the average annual growth rate of volume to Oman stood at +46.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-17.3% per year) and Egypt (+33.9% per year).

In value terms, Oman ($X) remains the key foreign market for carboxylic acid with alcohol, phenol, aldehyde or ketone functions exports from the United Arab Emirates, comprising 63% of total exports. The second position in the ranking was held by India ($X), with a 27% share of total exports. It was followed by Egypt, with a 5.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Oman stood at +43.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-3.8% per year) and Egypt (+26.9% per year).

Export Prices by Country

The average carboxylic acid export price stood at $X per ton in 2021, surging by 78% against the previous year. In general, export price indicated resilient growth from 2012 to 2021: its price increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained 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 India ($X per ton), while the average price for exports to Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Iran (+34.5%), while the prices for the other major destinations experienced mixed trend patterns.

Carboxylic Acid Imports

Imports into the United Arab Emirates

In 2021, carboxylic acid imports into the United Arab Emirates rose to X tons, with an increase of 2.3% compared with 2020. Overall, imports showed a prominent increase. The growth pace was the most rapid in 2013 with an increase of 41%. Imports peaked in 2021 and are likely to see steady growth in the near future.

In value terms, carboxylic acid imports skyrocketed to $X in 2021. In general, imports saw a significant increase. The most prominent rate of growth was recorded in 2013 when imports increased by 68% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of carboxylic acid to the United Arab Emirates, accounting for a 45% share of total imports. Moreover, carboxylic acid imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), twofold. The third position in this ranking was held by Taiwan (Chinese) (X tons), with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+50.0% per year) and Taiwan (Chinese) (+40.8% per year).

In value terms, India ($X), China ($X) and Taiwan (Chinese) ($X) constituted the largest carboxylic acid suppliers to the United Arab Emirates, with a combined 85% share of total imports. These countries were followed by South Korea, which accounted for a further 8.5%.

In terms of the main suppliers, South Korea, with a CAGR of +69.5%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average carboxylic acid import price amounted to $X per ton, jumping by 57% against the previous year. Overall, the import price saw a resilient expansion. As a result, import 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 supplying countries. In 2021, the country with the highest price was India ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+8.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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