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Report United Arab Emirates - Formic Acid, Its Salts and Esters - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Nov 1, 2024

United Arab Emirates - Formic Acid, Its Salts and Esters - Market Analysis, Forecast, Size, Trends and Insights

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United Arab Emirates: Market for Formic Acid, Its Salts And Esters 2024

Market Size for Formic Acid, Its Salts And Esters in the United Arab Emirates

In 2021, the market for formic acid, its salts and esters in the United Arab Emirates was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. In general, consumption recorded a resilient increase. Consumption of peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Exports of Formic Acid, Its Salts And Esters

Exports from the United Arab Emirates

In 2021, the amount of formic acid, its salts and esters exported from the United Arab Emirates surged to X tons, increasing by 124% against 2020. In general, exports posted noticeable growth. The most prominent rate of growth was recorded in 2017 when exports increased by 226% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports of remained at a lower figure.

In value terms, exports of formic acid, its salts and esters surged to $X in 2021. Overall, exports continue to indicate prominent growth. Over the period under review, the exports of reached the peak figure at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

Oman (X tons) was the main destination for exports of formic acid, its salts and esters from the United Arab Emirates, accounting for a 77% share of total exports. Moreover, exports of formic acid, its salts and esters to Oman exceeded the volume sent to the second major destination, Austria (X tons), eightfold.

From 2012 to 2021, the average annual growth rate of volume to Oman stood at +21.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (0.0% per year) and Uzbekistan (0.0% per year).

In value terms, Oman ($X) remains the key foreign market for formic acid, its salts and esters exports from the United Arab Emirates, comprising 86% of total exports. The second position in the ranking was held by Austria ($X), with a 4.8% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Oman totaled +20.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (0.0% per year) and Uzbekistan (0.0% per year).

Export Prices by Country

The average export price for formic acid, its salts and esters stood at $X per ton in 2021, waning by -16% against the previous year. Overall, the export price, however, continues to indicate a resilient expansion. The pace of growth was the most pronounced in 2016 an increase of 261% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Oman ($X per ton), while the average price for exports to Uzbekistan ($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 Bangladesh (+14.8%), while the prices for the other major destinations experienced a decline.

Imports of Formic Acid, Its Salts And Esters

Imports into the United Arab Emirates

After three years of decline, purchases abroad of formic acid, its salts and esters increased by 220% to X tons in 2021. Over the period under review, imports showed a resilient expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of formic acid, its salts and esters soared to $X in 2021. In general, imports showed resilient growth. Over the period under review, imports of hit record highs at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

India (X tons), China (X tons) and Saudi Arabia (X tons) were the main suppliers of imports of formic acid, its salts and esters to the United Arab Emirates, with a combined 95% 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 +526.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X) constituted the largest supplier of formic acid, its salts and esters to the United Arab Emirates, comprising 60% of total imports. The second position in the ranking was taken by China ($X), with a 27% share of total imports.

From 2012 to 2021, the average annual growth rate of value from India amounted to +136.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+2.8% per year) and Saudi Arabia (+373.7% per year).

Import Prices by Country

The average import price for formic acid, its salts and esters stood at $X per ton in 2021, jumping by 28% against the previous year. Overall, the import price, however, continues to indicate a perceptible downturn. The pace of growth was the most pronounced in 2016 an increase of 97% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was India ($X per ton), while the price for Saudi Arabia ($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 (-4.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

China remains the largest formic acid, its salts and esters consuming country worldwide, comprising approx. 26% of total volume. Moreover, consumption of formic acid, its salts and esters in China exceeded the figures recorded by the second-largest consumer, India, twofold. The third position in this ranking was occupied by the United States, with a 9.8% share.
China constituted the country with the largest volume of production of formic acid, its salts and esters, accounting for 41% of total volume. Moreover, production of formic acid, its salts and esters in China exceeded the figures recorded by the second-largest producer, the United States, fourfold. India ranked third in terms of total production with an 8.1% share.
In value terms, the United States constituted the largest supplier of formic acid, its salts and esters to the United Arab Emirates, comprising 74% of total imports. The second position in the ranking was occupied by China, with an 18% share of total imports. It was followed by Germany, with a 3.2% share.
In value terms, India, Iran and Iraq were the largest markets for formic acid, its salts and esters exported from the United Arab Emirates worldwide, with a combined 65% share of total exports.
The average export price for formic acid, its salts and esters stood at $1,255 per ton in 2020, rising by 49% against the previous year.
In 2020, the average import price for formic acid, its salts and esters amounted to $1,792 per ton, rising by 74% against the previous year.

This report provides an in-depth analysis of the market for formic acid, its salts and esters in the United Arab Emirates. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 20143250 - Formic acid, its salts and esters

Country coverage:

  • United Arab Emirates

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in the United Arab Emirates
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023

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