MENA: Market for Industrial Monocarboxylic Fatty Acids 2024

Market Size for Industrial Monocarboxylic Fatty Acids in MENA

In 2022, the MENA's industrial monocarboxylic fatty acids market increased by X% to $X, rising for the seventh year in a row after three years of decline. The total consumption indicated a temperate increase from 2012 to 2022: its value 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, consumption increased by X% against 2015 indices. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.

Production of Industrial Monocarboxylic Fatty Acids in MENA

In value terms, industrial monocarboxylic fatty acids production reached $X in 2022 estimated in export price. The total production indicated a modest increase from 2012 to 2022: its value 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, production decreased by X% against 2019 indices. The pace of growth was the most pronounced in 2018 with an increase of X%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Industrial Monocarboxylic Fatty Acids

Exports in MENA

In 2022, the amount of industrial monocarboxylic fatty acids exported in MENA surged to X tons, with an increase of X% compared with 2021. Overall, exports enjoyed a buoyant expansion. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

In value terms, industrial monocarboxylic fatty acids exports surged to $X in 2022. In general, exports recorded a strong increase. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the near future.

Exports by Country

In 2022, Turkey (X tons), distantly followed by Saudi Arabia (X tons), Iran (X tons), Israel (X tons), Egypt (X tons), Tunisia (X tons), Morocco (X tons) and Iraq (X tons) were the major exporters of industrial monocarboxylic fatty acids, together comprising X% of total exports.

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

In value terms, the largest industrial monocarboxylic fatty acids supplying countries in MENA were Turkey ($X), Saudi Arabia ($X) and Israel ($X), with a combined X% share of total exports. Egypt, Iran, Morocco, Tunisia and Iraq lagged somewhat behind, together comprising a further X%.

Among the main exporting countries, Iran, with a CAGR of X%, saw 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 export price in MENA amounted to $X per ton, surging by X% against the previous year. Export price indicated noticeable growth 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 export price increased by X% against 2019 indices. The growth pace was the most rapid in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the peak figure in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Egypt ($X per ton), while Iran ($X per ton) was amongst the lowest.

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

Imports of Industrial Monocarboxylic Fatty Acids

Imports in MENA

In 2022, supplies from abroad of industrial monocarboxylic fatty acids increased by X% to X tons, rising for the second year in a row after four years of decline. Total imports indicated a moderate increase from 2012 to 2022: its volume 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, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by X%. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in years to come.

In value terms, industrial monocarboxylic fatty acids imports skyrocketed to $X in 2022. In general, imports posted resilient growth. The most prominent rate of growth was recorded in 2021 when imports increased by X%. The level of import peaked in 2022 and is likely to see steady growth in the near future.

Imports by Country

Turkey was the key importer of industrial monocarboxylic fatty acids in MENA, with the volume of imports amounting to X tons, which was near X% of total imports in 2022. Israel (X tons) ranks second in terms of the total imports with a X% share, followed by the United Arab Emirates (X%) and Djibouti (X%). Egypt (X tons) held a little share of total imports.

Imports into Turkey increased at an average annual rate of X% from 2012 to 2022. At the same time, the United Arab Emirates (X%) and Djibouti (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2022. By contrast, Israel (X%) and Egypt (X%) illustrated a downward trend over the same period. While the share of Turkey (X p.p.) and the United Arab Emirates (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Egypt (X p.p.) and Israel (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X), Israel ($X) and the United Arab Emirates ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for X% of total imports.

The United Arab Emirates, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, rising by X% against the previous year. Import price indicated a moderate 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 pace of growth was the most pronounced in 2021 when the import price increased by X%. Over the period under review, import prices reached the peak figure in 2022 and is likely to continue growth in years to come.

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 the United Arab Emirates ($X per ton), while Djibouti ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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