Middle East: Industrial Stearic Acid Market 2024

Industrial Stearic Acid Market Size in the Middle East

For the third consecutive year, the Middle Eastern industrial stearic acid market recorded growth in sales value, which increased by X% to $X in 2022. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2022 and is likely to see steady growth in years to come.

Industrial Stearic Acid Production in the Middle East

In value terms, industrial stearic acid production stood at $X in 2022 estimated in export price. Over the period under review, production saw a deep downturn. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. The level of production peaked at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

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Industrial Stearic Acid Exports

Exports in the Middle East

In 2022, overseas shipments of industrial stearic acid decreased by X% to X tons, falling for the second consecutive year after two years of growth. Overall, exports, however, posted buoyant growth. The pace of growth was the most pronounced in 2015 when exports increased by X%. Over the period under review, the exports reached the peak figure at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, industrial stearic acid exports declined notably to $X in 2022. In general, exports, however, enjoyed a prominent expansion. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. The level of export peaked at $X in 2021, and then dropped markedly in the following year.

Exports by Country

In 2022, Turkey (X tons) was the key exporter of industrial stearic acid, committing X% of total exports. It was distantly followed by the United Arab Emirates (X tons), achieving a X% share of total exports. Jordan (X tons) and Israel (X tons) held a minor share of total exports.

Exports from Turkey increased at an average annual rate of X% from 2012 to 2022. At the same time, the United Arab Emirates (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2022. By contrast, Jordan (X%) and Israel (X%) illustrated a downward trend over the same period. While the share of Turkey (X p.p.) and the United Arab Emirates (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Israel (X p.p.) and Jordan (X p.p.) displayed negative dynamics.

In value terms, Turkey ($X) emerged as the largest industrial stearic acid supplier in the Middle East, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Jordan, with a X% share.

In Turkey, industrial stearic acid exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Jordan (X% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, jumping by X% against the previous year. Overall, the export price posted measured growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Turkey ($X per ton) and Israel ($X per ton), while Jordan ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Jordan (X%), while the other leaders experienced more modest paces of growth.

Industrial Stearic Acid Imports

Imports in the Middle East

In 2022, approx. X tons of industrial stearic acid were imported in the Middle East; with a decrease of X% compared with the previous year. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X tons, and then reduced in the following year.

In value terms, industrial stearic acid imports totaled $X in 2022. Overall, imports, however, saw a prominent increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of import peaked in 2022 and is likely to see steady growth in years to come.

Imports by Country

In 2022, Turkey (X tons) represented the key importer of industrial stearic acid, committing X% of total imports. It was distantly followed by Iran (X tons), achieving a X% share of total imports. The United Arab Emirates (X tons) and Jordan (X tons) took a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to industrial stearic acid imports into Turkey stood at X%. At the same time, Jordan (X%), the United Arab Emirates (X%) and Iran (X%) displayed positive paces of growth. Moreover, Jordan emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of the United Arab Emirates increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

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

In Turkey, industrial stearic acid imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Iran (X% per year) and the United Arab Emirates (X% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the import price continues to indicate pronounced growth. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, 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 2022, 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

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