United Arab Emirates: Ethyl Acetate Market 2024

Ethyl Acetate Market Size in the United Arab Emirates

In 2021, the ethyl acetate market in the United Arab Emirates increased by 61% to $X, rising for the second consecutive year after two years of decline. Overall, consumption, however, recorded a perceptible downturn. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Ethyl Acetate Exports

Exports from the United Arab Emirates

In 2021, after four years of growth, there was significant decline in shipments abroad of ethyl acetate, when their volume decreased by -26% to X tons. Overall, exports, however, saw perceptible growth. The growth pace was the most rapid in 2017 when exports increased by 664% against the previous year. The exports peaked at X tons in 2020, and then reduced markedly in the following year.

In value terms, ethyl acetate exports skyrocketed to $X in 2021. Over the period under review, exports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2017 when exports increased by 658%. The exports peaked in 2021 and are likely to see gradual growth in the near future.

Exports by Country

Nigeria (X tons) was the main destination for ethyl acetate exports from the United Arab Emirates, with a 39% share of total exports. Moreover, ethyl acetate exports to Nigeria exceeded the volume sent to the second major destination, Lebanon (X tons), threefold. Egypt (X tons) ranked third in terms of total exports with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Nigeria totaled +23.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lebanon (+40.8% per year) and Egypt (+2.9% per year).

In value terms, Nigeria ($X) remains the key foreign market for ethyl acetate exports from the United Arab Emirates, comprising 38% of total exports. The second position in the ranking was taken by Egypt ($X), with a 15% share of total exports. It was followed by Lebanon, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Nigeria amounted to +24.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (+4.5% per year) and Lebanon (+47.5% per year).

Export Prices by Country

In 2021, the average ethyl acetate export price amounted to $X per ton, picking up by 56% against the previous year. Over the period under review, the export price enjoyed a noticeable expansion. The most prominent rate of growth was recorded in 2016 when the average export price increased by 169%. Over the period under review, the average export prices reached the maximum in 2021 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Lebanon ($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 Spain (+29.9%), while the prices for the other major destinations experienced more modest paces of growth.

Ethyl Acetate Imports

Imports into the United Arab Emirates

In 2021, supplies from abroad of ethyl acetate increased by 2% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports, however, recorded a perceptible decrease. The pace of growth appeared the most rapid in 2020 when imports increased by 37% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, ethyl acetate imports soared to $X in 2021. Overall, imports, however, recorded a relatively flat trend pattern. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Saudi Arabia (X tons), India (X tons) and China (X tons) were the main suppliers of ethyl acetate imports to the United Arab Emirates, with a combined 98% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Saudi Arabia (with a CAGR of +4.2%), while imports for the other leaders experienced a decline.

In value terms, Saudi Arabia ($X), India ($X) and China ($X) were the largest ethyl acetate suppliers to the United Arab Emirates, with a combined 98% share of total imports.

In terms of the main suppliers, Saudi Arabia, with a CAGR of +8.9%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average ethyl acetate import price amounted to $X per ton, rising by 67% against the previous year. In general, import price indicated a pronounced increase from 2012 to 2021: its price increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, ethyl acetate import price increased by +68.2% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Saudi Arabia ($X per ton) and India ($X per ton), while the price for South Africa ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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