Middle East: Market for Saturated Acyclic Monocarboxylic Acids 2024

Market Size for Saturated Acyclic Monocarboxylic Acids in the Middle East

In 2022, the Middle Eastern saturated acyclic monocarboxylic acids market increased by X% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Saturated Acyclic Monocarboxylic Acids in the Middle East

In value terms, saturated acyclic monocarboxylic acids production expanded to $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

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Exports of Saturated Acyclic Monocarboxylic Acids

Exports in the Middle East

In 2022, shipments abroad of saturated acyclic monocarboxylic acids decreased by X% to X tons for the first time since 2017, thus ending a four-year rising trend. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of X%. The volume of export peaked at X tons in 2021, and then dropped in the following year.

In value terms, saturated acyclic monocarboxylic acids exports plummeted to $X in 2022. Overall, exports, however, saw a moderate increase. 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, and then fell significantly in the following year.

Exports by Country

In 2022, Saudi Arabia (X tons) represented the major exporter of saturated acyclic monocarboxylic acids, generating X% of total exports. Turkey (X tons) ranks second in terms of the total exports with a X% share, followed by Iran (X%) and the United Arab Emirates (X%).

From 2012 to 2022, average annual rates of growth with regard to saturated acyclic monocarboxylic acids exports from Saudi Arabia stood at X%. 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 2012-2022. Iran experienced a relatively flat trend pattern. 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 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 ($X) remains the largest saturated acyclic monocarboxylic acids supplier in the Middle East, comprising X% of total exports. The second position in the ranking was held by Turkey ($X), with a X% share of total exports. It was followed by the United Arab Emirates, with a X% share.

In Saudi Arabia, saturated acyclic monocarboxylic acids exports expanded at an average annual rate of X% over the period from 2012-2022. 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 2022, waning by X% against the previous year. Export price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, saturated acyclic monocarboxylic acids export price increased by X% against 2016 indices. The pace of growth was the most pronounced in 2021 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton, and then reduced 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 2022, 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 the Middle East

In 2022, saturated acyclic monocarboxylic acids imports in the Middle East amounted to X tons, picking up by X% compared with the previous year. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by X%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, saturated acyclic monocarboxylic acids imports surged to $X in 2022. Over the period under review, imports continue to indicate resilient growth. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, Turkey (X tons) was the major importer of saturated acyclic monocarboxylic acids, mixing up X% of total imports. It was distantly followed by the United Arab Emirates (X tons) and Saudi Arabia (X tons), together constituting a X% share of total imports. Israel (X tons) and Iran (X tons) held a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to saturated acyclic monocarboxylic acids imports into Turkey stood at X%. At the same time, the United Arab Emirates (X%), Israel (X%) and Iran (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2022. By contrast, Saudi Arabia (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 imports from 2012-2022, the share of Saudi Arabia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey amounted to X%. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Israel (X% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, growing by X% against the previous year. Import price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, saturated acyclic monocarboxylic acids import price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2021 when the import price increased by X%. Over the period under review, import prices attained the maximum in 2022 and is expected to retain growth in the near future.

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 Israel ($X per ton), while Turkey ($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