MENA: O-Acetylsalicylic Acid Market 2024

O-Acetylsalicylic Acid Market Size in MENA

In 2021, the MENA's o-acetylsalicylic acid market decreased by -12.7% to $X for the first time since 2018, thus ending a two-year rising trend. Overall, consumption continues to indicate a noticeable decrease. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

O-Acetylsalicylic Acid Production in MENA

In value terms, o-acetylsalicylic acid production reduced dramatically to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a strong expansion. The pace of growth was the most pronounced in 2020 when the production volume increased by 210%. As a result, production reached the peak level of $X, and then reduced rapidly in the following year.

O-Acetylsalicylic Acid Exports

Exports in MENA

In 2021, o-acetylsalicylic acid exports in MENA declined sharply to X tons, dropping by -59.9% on the previous year's figure. Overall, exports recorded a abrupt curtailment. The growth pace was the most rapid in 2015 when exports increased by 944%. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, o-acetylsalicylic acid exports shrank significantly to $X in 2021. Over the period under review, exports, however, enjoyed a moderate expansion. The pace of growth was the most pronounced in 2015 with an increase of 635%. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The United Arab Emirates was the key exporting country with an export of around X kg, which amounted to 55% of total exports. Israel (X kg) ranks second in terms of the total exports with a 30% share, followed by Turkey (6.7%) and Egypt (5.6%). Jordan (X kg) took a relatively small share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Jordan (with a CAGR of +483.1%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Israel ($X) remains the largest o-acetylsalicylic acid supplier in MENA, comprising 87% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 6.6% share of total exports. It was followed by Egypt, with a 2.8% share.

From 2012 to 2021, the average annual growth rate of value in Israel stood at +91.7%. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (-12.0% per year) and Egypt (-16.1% per year).

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, surging by 107% against the previous year. Over the period under review, the export price saw a significant expansion. The growth pace was the most rapid in 2018 an increase of 122%. The level of export peaked in 2021 and is likely to continue growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+9.8%), while the other leaders experienced more modest paces of growth.

O-Acetylsalicylic Acid Imports

Imports in MENA

In 2021, approx. X tons of o-acetylsalicylic acid, its salts and esters were imported in MENA; falling by -5.4% against 2020. Over the period under review, imports showed a noticeable reduction. The pace of growth was the most pronounced in 2020 with an increase of 12%. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, o-acetylsalicylic acid imports reduced remarkably to $X in 2021. In general, imports recorded a pronounced contraction. The pace of growth appeared the most rapid in 2020 with an increase of 13%. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Turkey was the largest importer of o-acetylsalicylic acid, its salts and esters in MENA, with the volume of imports finishing at X tons, which was approx. 46% of total imports in 2021. Iran (X tons) held the second position in the ranking, followed by Israel (X tons) and Egypt (X tons). All these countries together held approx. 38% share of total imports. Jordan (X tons), Syrian Arab Republic (X tons) and the United Arab Emirates (X tons) took a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to o-acetylsalicylic acid imports into Turkey stood at +2.2%. At the same time, Iran (+15.1%) and Egypt (+2.1%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing importer imported in MENA, with a CAGR of +15.1% from 2012-2021. Israel experienced a relatively flat trend pattern. By contrast, Syrian Arab Republic (-5.8%), Jordan (-9.5%) and the United Arab Emirates (-17.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Turkey, Iran, Egypt and Israel increased by +17, +13, +3.8 and +2.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported o-acetylsalicylic acid, its salts and esters in MENA, comprising 57% of total imports. The second position in the ranking was held by Israel ($X), with a 13% share of total imports. It was followed by Egypt, with a 12% share.

From 2012 to 2021, the average annual growth rate of value in Turkey amounted to +3.9%. The remaining importing countries recorded the following average annual rates of imports growth: Israel (+1.2% per year) and Egypt (+2.5% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2021, shrinking by -11.5% against the previous year. Overall, the import price continues to indicate a slight descent. The most prominent rate of growth was recorded in 2019 when the import price increased by 21% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+12.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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