Middle East: Acrylic Polymer Market 2024

Acrylic Polymer Market Size in the Middle East

In 2023, the Middle Eastern acrylic polymer market decreased by X% to $X, falling for the second year in a row after five years of growth. The total consumption indicated temperate growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market remained at a somewhat lower figure.

Acrylic Polymer Production in the Middle East

In value terms, acrylic polymer production skyrocketed to $X in 2023 estimated in export price. In general, production recorded buoyant growth. The pace of growth appeared the most rapid in 2021 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2023, production stood at a somewhat lower figure.

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Acrylic Polymer Exports

Exports in the Middle East

Acrylic polymer exports surged to X tons in 2023, growing by X% compared with the previous year. Over the period under review, exports continue to indicate resilient growth. The pace of growth appeared the most rapid in 2018 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

In value terms, acrylic polymer exports rose significantly to $X in 2023. In general, exports recorded a strong expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2022 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

In 2023, Turkey (X tons) represented the major exporter of acrylic polymers (in primary forms), making up X% of total exports. It was distantly followed by Saudi Arabia (X tons) and the United Arab Emirates (X tons), together mixing up a X% share of total exports. Israel (X tons) took a little share of total exports.

From 2012 to 2023, average annual rates of growth with regard to acrylic polymer exports from Turkey stood at X%. At the same time, Saudi Arabia (X%), the United Arab Emirates (X%) and Israel (X%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2023. While the share of Saudi Arabia (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Israel (X p.p.) and Turkey (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest acrylic polymer supplier in the Middle East, comprising X% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a X% share of total exports. It was followed by the United Arab Emirates, with a X% share.

In Turkey, acrylic polymer exports 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 the United Arab Emirates (X% per year).

Export Prices by Country

In 2023, the export price in the Middle East amounted to $X per ton, falling by X% against the previous year. Over the period under review, the export price recorded a slight shrinkage. The pace of growth was the most pronounced in 2021 when the export price increased by X%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2023, the export prices failed to regain momentum.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Israel (X%), while the other leaders experienced a decline in the export price figures.

Acrylic Polymer Imports

Imports in the Middle East

In 2023, overseas purchases of acrylic polymers (in primary forms) were finally on the rise to reach X tons after two years of decline. The total import volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of X%. The volume of import peaked at X tons in 2020; however, from 2021 to 2023, imports remained at a lower figure.

In value terms, acrylic polymer imports reduced to $X in 2023. The total import value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2022, and then fell in the following year.

Imports by Country

Turkey represented the major importer of acrylic polymers (in primary forms) in the Middle East, with the volume of imports reaching X tons, which was near X% of total imports in 2023. The United Arab Emirates (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Saudi Arabia (X%), Iran (X%) and Israel (X%). The following importers - Oman (X tons), Jordan (X tons), Lebanon (X tons) and Kuwait (X tons) - together made up X% of total imports.

Imports into Turkey increased at an average annual rate of X% from 2012 to 2023. At the same time, Oman (X%), Jordan (X%), Kuwait (X%), the United Arab Emirates (X%) and Lebanon (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2023. Iran experienced a relatively flat trend pattern. By contrast, Israel (X%) and Saudi Arabia (X%) illustrated a downward trend over the same period. Turkey (X p.p.) significantly strengthened its position in terms of the total imports, while Iran, Israel and Saudi Arabia saw its share reduced by X%, X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported acrylic polymers (in primary forms) in the Middle East, comprising X% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Saudi Arabia, with an X% share.

In Turkey, acrylic polymer imports increased at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Saudi Arabia (X% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2023, which is down by X% against the previous year. Overall, the import price showed a slight descent. The pace of growth was the most pronounced in 2022 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton, and then reduced in the following year.

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 Israel ($X per ton), while Lebanon ($X per ton) was amongst the lowest.

From 2012 to 2023, 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