United Arab Emirates: Octyl Alcohol Market 2024

Octyl Alcohol Market Size in the United Arab Emirates

After three years of decline, the octyl alcohol market in the United Arab Emirates increased by 5.9% to $X in 2022. The market value increased at an average annual rate of +4.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Octyl alcohol consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Octyl Alcohol Production in the United Arab Emirates

In value terms, octyl alcohol production expanded markedly to $X in 2022 estimated in export price. Over the period under review, production showed a resilient expansion. The most prominent rate of growth was recorded in 2017 when the production volume increased by 147%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Octyl Alcohol Exports

Exports from the United Arab Emirates

Octyl alcohol exports from the United Arab Emirates shrank to X tons in 2022, reducing by -5.4% against 2021. In general, exports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2016 when exports increased by 263%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, octyl alcohol exports fell to $X in 2022. Overall, exports continue to indicate a deep contraction. The growth pace was the most rapid in 2016 when exports increased by 286%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Iran (X tons) was the main destination for octyl alcohol exports from the United Arab Emirates, with a 54% share of total exports. Moreover, octyl alcohol exports to Iran exceeded the volume sent to the second major destination, Bangladesh (X tons), twofold. India (X tons) ranked third in terms of total exports with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Iran stood at +66.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (+3.7% per year) and India (+14.8% per year).

In value terms, Iran ($X), Bangladesh ($X) and Iraq ($X) appeared to be the largest markets for octyl alcohol exported from the United Arab Emirates worldwide, together accounting for 83% of total exports.

Among the main countries of destination, Iran, with a CAGR of +33.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average octyl alcohol export price stood at $X per ton in 2022, reducing by -6.1% against the previous year. Overall, the export price showed a perceptible decline. The pace of growth appeared the most rapid in 2013 when the average export price increased by 13% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Iraq ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Pakistan (-1.7%), while the prices for the other major destinations experienced a decline.

Octyl Alcohol Imports

Imports into the United Arab Emirates

Octyl alcohol imports into the United Arab Emirates contracted to X tons in 2022, waning by -7.4% on 2021. Overall, imports showed a pronounced setback. The growth pace was the most rapid in 2019 when imports increased by 137%. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, octyl alcohol imports shrank sharply to $X in 2022. Over the period under review, imports saw a deep contraction. The pace of growth appeared the most rapid in 2019 with an increase of 99%. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Saudi Arabia (X tons), South Korea (X tons) and Germany (X tons) were the main suppliers of octyl alcohol imports to the United Arab Emirates, together comprising 96% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +45.4%), while imports for the other leaders experienced a decline.

In value terms, the largest octyl alcohol suppliers to the United Arab Emirates were Saudi Arabia ($X), South Korea ($X) and Germany ($X), with a combined 98% share of total imports.

South Korea, with a CAGR of +45.4%, recorded 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 a decline.

Import Prices by Country

The average octyl alcohol import price stood at $X per ton in 2022, which is down by -17.4% against the previous year. Over the period under review, the import price continues to indicate a pronounced decline. The growth pace was the most rapid in 2021 an increase of 64% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+7.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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