GCC: Market for Industrial Monocarboxylic Fatty Acids 2024

Market Size for Industrial Monocarboxylic Fatty Acids in GCC

In 2022, the GCC industrial monocarboxylic fatty acids market decreased by X% to $X, falling for the second year in a row after four years of growth. Over the period under review, consumption enjoyed a perceptible increase. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Industrial Monocarboxylic Fatty Acids in GCC

In value terms, industrial monocarboxylic fatty acids production amounted to $X in 2022 estimated in export price. In general, production enjoyed a pronounced expansion. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Industrial Monocarboxylic Fatty Acids

Exports in GCC

In 2022, the amount of industrial monocarboxylic fatty acids exported in GCC rose significantly to X tons, increasing by X% compared with 2021. In general, exports posted buoyant growth. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in years to come.

In value terms, industrial monocarboxylic fatty acids exports amounted to $X in 2022. Over the period under review, exports recorded a remarkable increase. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The level of export peaked in 2022 and is likely to continue growth in years to come.

Exports by Country

In 2022, Saudi Arabia (X tons) was the largest exporter of industrial monocarboxylic fatty acids, achieving X% of total exports. It was distantly followed by the United Arab Emirates (X tons), creating a X% share of total exports. Oman (X tons) followed a long way behind the leaders.

Saudi Arabia was also the fastest-growing in terms of the industrial monocarboxylic fatty acids exports, with a CAGR of X% from 2012 to 2022. At the same time, the United Arab Emirates (X%) and Oman (X%) displayed positive paces of growth. Saudi Arabia (X p.p.) significantly strengthened its position in terms of the total exports, while Oman and the United Arab Emirates saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, Saudi Arabia ($X) remains the largest industrial monocarboxylic fatty acids supplier in GCC, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total exports.

In Saudi Arabia, industrial monocarboxylic fatty acids exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Oman (X% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, shrinking by X% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. As a result, the export price reached the peak level of $X per ton, and then dropped in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Industrial Monocarboxylic Fatty Acids

Imports in GCC

In 2022, purchases abroad of industrial monocarboxylic fatty acids decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by X%. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, industrial monocarboxylic fatty acids imports surged to $X in 2022. Over the period under review, imports, however, saw a tangible expansion. The pace of growth was the most pronounced in 2017 when imports increased by X%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

The United Arab Emirates dominates imports structure, accounting for X tons, which was near X% of total imports in 2022. It was distantly followed by Qatar (X tons), achieving a X% share of total imports. Oman (X tons) held a little share of total imports.

Imports into the United Arab Emirates increased at an average annual rate of X% from 2012 to 2022. At the same time, Qatar (X%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2022. By contrast, Oman (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates and Qatar increased by X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported industrial monocarboxylic fatty acids in GCC, comprising X% of total imports. The second position in the ranking was held by Qatar ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Qatar (X% per year) and Oman (X% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, rising by X% against the previous year. Import price indicated a pronounced increase 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, industrial monocarboxylic fatty acids import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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