United Arab Emirates: Phenylacetic Acid Market 2024

Phenylacetic Acid Market Size in the United Arab Emirates

The phenylacetic acid market in the United Arab Emirates declined to $X in 2022, with a decrease of X% against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Phenylacetic Acid Production in the United Arab Emirates

In value terms, phenylacetic acid production shrank modestly to $X in 2022 estimated in export price. Over the period under review, production saw a mild downturn. The growth pace was the most rapid in 2017 with an increase of X%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Phenylacetic Acid Exports

Exports from the United Arab Emirates

In 2022, overseas shipments of phenylacetic acid, its salts and esters decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, recorded a resilient expansion. The pace of growth appeared the most rapid in 2019 when exports increased by X%. Over the period under review, the exports reached the peak figure at X tons in 2021, and then contracted significantly in the following year.

In value terms, phenylacetic acid exports declined rapidly to $X in 2022. In general, exports, however, saw a resilient increase. The pace of growth appeared the most rapid in 2019 when exports increased by X%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Azerbaijan (X tons), Jordan (X tons) and Iran (X tons) were the main destinations of phenylacetic acid exports from the United Arab Emirates, together comprising X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Jordan (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Azerbaijan ($X), Iran ($X) and Jordan ($X) were the largest markets for phenylacetic acid exported from the United Arab Emirates worldwide, with a combined X% share of total exports.

Among the main countries of destination, Iran, with a CAGR of X%, recorded the highest rates of growth with regard to 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

In 2022, the average phenylacetic acid export price amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the export price, however, continues to indicate a moderate expansion. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Iran ($X per ton), while the average price for exports to Sudan ($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 Nigeria (X%), while the prices for the other major destinations experienced more modest paces of growth.

Phenylacetic Acid Imports

Imports into the United Arab Emirates

After four years of growth, purchases abroad of phenylacetic acid, its salts and esters decreased by X% to X tons in 2022. Over the period under review, imports, however, showed prominent growth. The growth pace was the most rapid in 2019 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2021, and then declined notably in the following year.

In value terms, phenylacetic acid imports plummeted to $X in 2022. Overall, imports, however, enjoyed a buoyant expansion. The growth pace was the most rapid in 2018 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

India (X tons), Japan (X tons) and China (X tons) were the main suppliers of phenylacetic acid imports to the United Arab Emirates, together comprising X% of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest phenylacetic acid suppliers to the United Arab Emirates were India ($X), Japan ($X) and China ($X), with a combined X% share of total imports.

In terms of the main suppliers, India, with a CAGR of X%, recorded the highest growth rate of 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

The average phenylacetic acid import price stood at $X per ton in 2022, waning by X% against the previous year. Over the period under review, import price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, phenylacetic acid import price decreased by X% against 2018 indices. The pace of growth appeared the most rapid in 2018 when the average import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Japan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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