MENA: Industrial Oleic Acid Market 2024

Industrial Oleic Acid Market Size in MENA

The MENA's industrial oleic acid market amounted to $X in 2022, increasing by X% against the previous year. The total consumption indicated a noticeable expansion 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 decreased by X% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Industrial Oleic Acid Production in MENA

In value terms, industrial oleic acid production expanded significantly to $X in 2022 estimated in export price. The total production indicated a tangible 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 2020 indices. The growth pace was the most rapid in 2020 with an increase of X%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Industrial Oleic Acid Exports

Exports in MENA

In 2022, shipments abroad of industrial oleic acid was finally on the rise to reach X tons after two years of decline. Overall, exports posted a measured expansion. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, industrial oleic acid exports surged to $X in 2022. Over the period under review, exports saw a prominent expansion. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates represented the key exporting country with an export of around X tons, which amounted to X% of total exports. Turkey (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Iran (X%). Morocco (X tons) and Jordan (X tons) took a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to industrial oleic acid exports from the United Arab Emirates stood at X%. At the same time, Iran (X%) and Turkey (X%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing exporter exported in MENA, with a CAGR of X% from 2012-2022. By contrast, Jordan (X%) and Morocco (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates, Turkey, Iran, Morocco and Jordan increased by X, X, X, X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest industrial oleic acid supplying countries in MENA were the United Arab Emirates ($X), Turkey ($X) and Iran ($X), together accounting for X% of total exports.

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

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, declining by X% against the previous year. Over the period under review, the export price, however, showed a strong expansion. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton, and then shrank in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Morocco ($X per ton) was amongst the lowest.

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

Industrial Oleic Acid Imports

Imports in MENA

In 2022, approx. X tons of industrial oleic acid were imported in MENA; which is down by X% compared with 2021 figures. In general, imports, however, enjoyed a prominent expansion. The growth pace was the most rapid in 2015 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, industrial oleic acid imports contracted rapidly to $X in 2022. Overall, imports, however, enjoyed a resilient expansion. The pace of growth was the most pronounced in 2021 when imports increased by X%. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Turkey (X tons) and the United Arab Emirates (X tons) were the key importers of industrial oleic acid in MENA, together generating X% of total imports. It was distantly followed by Iran (X tons), comprising a X% share of total imports. Algeria (X tons), Egypt (X tons) and Morocco (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Algeria (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), the United Arab Emirates ($X) and Iran ($X) were the countries with the highest levels of imports in 2022, together comprising X% of total imports.

Among the main importing countries, the United Arab Emirates, with a CAGR of X%, recorded the highest rates of growth with regard to 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 import price in MENA stood at $X per ton in 2022, surging by X% against the previous year. Import price indicated notable 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 oleic acid import price increased by X% against 2020 indices. The pace of growth was the most pronounced 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 near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Egypt ($X per ton), while Morocco ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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