GCC: Acetic Anhydride Market 2024

Acetic Anhydride Market Size in GCC

The GCC acetic anhydride market reduced to $X in 2023, with a decrease of X% against the previous year. Over the period under review, consumption, however, posted prominent growth. As a result, consumption reached the peak level of $X. From 2019 to 2023, the growth of the market remained at a somewhat lower figure.

Acetic Anhydride Production in GCC

In value terms, acetic anhydride production expanded remarkably to $X in 2023 estimated in export price. The total production indicated buoyant growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The growth pace was the most rapid in 2021 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2022 to 2023, production growth failed to regain momentum.

Acetic Anhydride Exports

Exports in GCC

In 2023, the amount of acetic anhydride exported in GCC skyrocketed to X tons, jumping by X% against 2022 figures. In general, exports, however, saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2023, the exports failed to regain momentum.

In value terms, acetic anhydride exports skyrocketed to $X in 2023. Over the period under review, exports posted a resilient expansion. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, the exports reached the peak of $X. From 2022 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

The biggest shipments were from Saudi Arabia (X tons), together amounting to X% of total export.

Saudi Arabia was also the fastest-growing in terms of the acetic anhydride exports, with a CAGR of X% from 2012 to 2023. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) also remains the largest acetic anhydride supplier in GCC.

In Saudi Arabia, acetic anhydride exports expanded at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

The export price in GCC stood at $X per ton in 2023, increasing by X% against the previous year. Overall, the export price recorded strong growth. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. Over the period under review, the export prices hit record highs in 2023 and is expected to retain growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Saudi Arabia.

From 2012 to 2023, the rate of growth in terms of prices for Saudi Arabia amounted to X% per year.

Acetic Anhydride Imports

Imports in GCC

In 2023, after two years of decline, there was significant growth in overseas purchases of acetic anhydride, when their volume increased by X% to X tons. Over the period under review, imports showed a buoyant expansion. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2023, imports remained at a lower figure.

In value terms, acetic anhydride imports skyrocketed to $X in 2023. In general, imports showed a prominent expansion. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021; however, from 2022 to 2023, imports failed to regain momentum.

Imports by Country

The United Arab Emirates was the main importer of acetic anhydride in GCC, with the volume of imports resulting at X tons, which was approx. X% of total imports in 2023. It was distantly followed by Saudi Arabia (X tons), making up a X% share of total imports. Kuwait (X kg) took a minor share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the acetic anhydride imports, with a CAGR of X% from 2012 to 2023. Saudi Arabia experienced a relatively flat trend pattern. Kuwait (X%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Kuwait (X p.p.) and Saudi Arabia (X p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported acetic anhydride in GCC, comprising X% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total imports.

In the United Arab Emirates, acetic anhydride imports increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Saudi Arabia (X% per year) and Kuwait (X% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2023, with an increase of X% against the previous year. In general, the import price saw a perceptible increase. The pace of growth was the most pronounced in 2020 when the import price increased by X% against the previous year. Over the period under review, import prices reached the peak figure in 2023 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform