Middle East: Ethyl Acetate Market 2024

Ethyl Acetate Market Size in the Middle East

In 2023, the Middle Eastern ethyl acetate market increased by X% to $X, rising for the third consecutive year after two years of decline. In general, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2023, consumption remained at a lower figure.

Ethyl Acetate Production in the Middle East

In value terms, ethyl acetate production stood at $X in 2023 estimated in export price. The total production indicated a buoyant expansion 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, production decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, production attained the peak level of $X. From 2022 to 2023, production growth remained at a somewhat lower figure.

Ethyl Acetate Exports

Exports in the Middle East

In 2023, overseas shipments of ethyl acetate decreased by X% to X tons, falling for the second year in a row after two years of growth. In general, exports, however, posted significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2023, the exports failed to regain momentum.

In value terms, ethyl acetate exports shrank to $X in 2023. Over the period under review, exports, however, continue to indicate a significant increase. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. The level of export peaked at $X in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

Exports by Country

In 2023, Saudi Arabia (X tons) represented the major exporter of ethyl acetate, mixing up X% of total exports. Turkey (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by the United Arab Emirates (X%).

Exports from Saudi Arabia increased 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 the Middle East, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of Saudi Arabia increased by X percentage points.

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

In Saudi Arabia, ethyl acetate exports 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: Turkey (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2023, reducing by X% against the previous year. Export price indicated modest growth from 2012 to 2023: its price 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. 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 dropped 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 the United Arab Emirates ($X per ton), while Turkey ($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.

Ethyl Acetate Imports

Imports in the Middle East

In 2023, approx. X tons of ethyl acetate were imported in the Middle East; declining by X% against 2022 figures. Overall, imports showed a noticeable decline. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2023, imports failed to regain momentum.

In value terms, ethyl acetate imports declined sharply to $X in 2023. In general, imports showed a perceptible contraction. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

Imports by Country

Turkey was the major importing country with an import of around X tons, which recorded X% of total imports. It was distantly followed by the United Arab Emirates (X tons), achieving a X% share of total imports. The following importers - Israel (X tons), Lebanon (X tons), Jordan (X tons) and Bahrain (X tons) - together made up X% of total imports.

Turkey experienced a relatively flat trend pattern with regard to volume of imports of ethyl acetate. At the same time, Bahrain (X%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2023. By contrast, Jordan (X%), Lebanon (X%), the United Arab Emirates (X%) and Israel (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 ($X) constitutes the largest market for imported ethyl acetate in the Middle East, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($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 was relatively modest. 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

In 2023, the import price in the Middle East amounted to $X per ton, reducing by X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2022 to 2023, the import prices remained at a lower figure.

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

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

Source: IndexBox Platform