MENA: Market for Saturated Acyclic Monocarboxylic Acids 2024

Market Size for Saturated Acyclic Monocarboxylic Acids in MENA

In 2023, the MENA's saturated acyclic monocarboxylic acids market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. The total consumption indicated tangible 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. Over the period under review, the market hit record highs at $X in 2022, and then shrank in the following year.

Production of Saturated Acyclic Monocarboxylic Acids in MENA

In value terms, saturated acyclic monocarboxylic acids production expanded remarkably to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of X%. As a result, production reached the peak level of $X. From 2022 to 2023, production growth remained at a somewhat lower figure.

Exports of Saturated Acyclic Monocarboxylic Acids

Exports in MENA

In 2023, exports of saturated acyclic monocarboxylic acids in MENA soared to X tons, jumping by X% compared with the year before. Overall, exports, however, saw a mild setback. Over the period under review, the exports reached the maximum at X tons in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

In value terms, saturated acyclic monocarboxylic acids exports skyrocketed to $X in 2023. In general, exports showed a perceptible increase. The level of export peaked at $X in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

Exports by Country

Saudi Arabia was the largest exporting country with an export of around X tons, which resulted at X% of total exports. Turkey (X tons) took the second position in the ranking, followed by Iran (X tons). All these countries together held approx. X% share of total exports. The United Arab Emirates (X tons) held a little share of total exports.

Exports from Saudi Arabia decreased at an average annual rate of X% from 2012 to 2023. At the same time, Turkey (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in MENA, with a CAGR of X% from 2012-2023. By contrast, Iran (X%) illustrated a downward trend over the same period. While the share of Turkey (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Iran (X p.p.) and Saudi Arabia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) emerged as the largest saturated acyclic monocarboxylic acids supplier in MENA, comprising X% of total exports. The second position in the ranking was held by Turkey ($X), with a X% share of total exports. It was followed by Iran, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Saudi Arabia amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (X% per year) and Iran (X% per year).

Export Prices by Country

In 2023, the export price in MENA amounted to $X per ton, reducing by X% against the previous year. Overall, the export price, however, showed a resilient increase. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The level of export peaked at $X per ton in 2022, 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 the United Arab Emirates ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the other leaders experienced more modest paces of growth.

Imports of Saturated Acyclic Monocarboxylic Acids

Imports in MENA

Saturated acyclic monocarboxylic acids imports fell to X tons in 2023, shrinking by X% compared with the year before. 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 pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports attained the peak of X tons. From 2022 to 2023, the growth of imports remained at a lower figure.

In value terms, saturated acyclic monocarboxylic acids imports contracted markedly to $X in 2023. Total imports indicated a tangible expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2022, and then reduced sharply in the following year.

Imports by Country

In 2023, Turkey (X tons) represented the key importer of saturated acyclic monocarboxylic acids, committing X% of total imports. The United Arab Emirates (X tons) took the second position in the ranking, followed by Egypt (X tons). All these countries together took near X% share of total imports. Israel (X tons), Saudi Arabia (X tons), Morocco (X tons), Djibouti (X tons), Iran (X tons) and Tunisia (X tons) held a relatively small share of total imports.

From 2012 to 2023, average annual rates of growth with regard to saturated acyclic monocarboxylic acids imports into Turkey stood at X%. At the same time, Djibouti (X%), Egypt (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Djibouti emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2023. Israel experienced a relatively flat trend pattern. By contrast, Morocco (X%), Tunisia (X%), Iran (X%) and Saudi Arabia (X%) illustrated a downward trend over the same period. Turkey (X p.p.), Egypt (X p.p.) and Djibouti (X p.p.) significantly strengthened its position in terms of the total imports, while Saudi Arabia saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported saturated acyclic monocarboxylic acids in MENA, comprising X% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Egypt, with a X% share.

In Turkey, saturated acyclic monocarboxylic acids imports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Egypt (X% per year).

Import Prices by Country

In 2023, the import price in MENA amounted to $X per ton, which is down by X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2022, and then shrank notably in the following year.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform