Middle East: Market for Esters Of Acetic Acid (excluding Ethyl Acetate) 2024

Market Size for Esters Of Acetic Acid (excluding Ethyl Acetate) in the Middle East

After three years of growth, the Middle Eastern market for esters of acetic acid (excluding ethyl acetate) decreased by X% to $X in 2023. The market value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2022, and then shrank in the following year.

Production of Esters Of Acetic Acid (excluding Ethyl Acetate) in the Middle East

In value terms, production of esters of acetic acid (excluding ethyl acetate) rose remarkably to $X in 2023 estimated in export price. Over the period under review, production recorded a mild increase. The most prominent rate of growth was recorded in 2021 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2022 to 2023, production of growth remained at a somewhat lower figure.

Exports of Esters Of Acetic Acid (excluding Ethyl Acetate)

Exports in the Middle East

In 2023, the amount of esters of acetic acid (excluding ethyl acetate) exported in the Middle East stood at X tons, almost unchanged from 2022 figures. In general, exports, however, showed a perceptible reduction. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, the exports of reached the peak figure at X tons in 2014; however, from 2015 to 2023, the exports remained at a lower figure.

In value terms, exports of esters of acetic acid (excluding ethyl acetate) reduced to $X in 2023. Overall, exports posted a measured increase. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. Over the period under review, the exports of hit record highs at $X in 2022, and then reduced in the following year.

Exports by Country

Saudi Arabia prevails in acetate) structure, amounting to X tons, which was near X% of total exports in 2023. It was distantly followed by Turkey (X tons), comprising a X% share of total exports. Iran (X tons) followed a long way behind the leaders.

Exports from Saudi Arabia decreased at an average annual rate of X% from 2012 to 2023. At the same time, Turkey (X%) and Iran (X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of Turkey and Iran increased by X and X percentage points, respectively.

In value terms, Saudi Arabia ($X) remains the largest esters of acetic acid (excluding ethyl acetate) supplier in the Middle East, comprising X% of total exports. The second position in the ranking was taken by Turkey ($X), with a X% share of total exports.

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 the Middle East amounted to $X per ton, reducing by X% against the previous year. In general, the export price, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2022, and then fell in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while Turkey ($X per ton) was amongst the lowest.

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

Imports of Esters Of Acetic Acid (excluding Ethyl Acetate)

Imports in the Middle East

In 2023, supplies from abroad of esters of acetic acid (excluding ethyl acetate) decreased by X% to X tons, falling for the second year in a row after four years of growth. The total import volume increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports reached the peak of X tons. From 2022 to 2023, the growth of imports of failed to regain momentum.

In value terms, imports of esters of acetic acid (excluding ethyl acetate) fell significantly to $X in 2023. Overall, imports, however, posted slight growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports of failed to regain momentum.

Imports by Country

Turkey was the key importing country with an import of around X tons, which reached X% of total imports. It was distantly followed by the United Arab Emirates (X tons), committing an X% share of total imports. Israel (X tons), Jordan (X tons) and Lebanon (X tons) took a relatively small share of total imports.

Imports into Turkey increased at an average annual rate of X% from 2012 to 2023. At the same time, Israel (X%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2023. The United Arab Emirates and Lebanon experienced a relatively flat trend pattern. By contrast, Jordan (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Turkey increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported esters of acetic acid (excluding ethyl acetate) in the Middle East, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Israel, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Turkey totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Israel (X% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2023, shrinking by X% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. The level of import peaked at $X per ton in 2022, and then reduced sharply in the following year.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Jordan ($X per ton) and Israel ($X per ton), while Turkey ($X per ton) and Lebanon ($X per ton) were 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