Saudi Arabia: Acrylic Acid Esters Market 2024

Acrylic Acid Esters Market Size in Saudi Arabia

The Saudi acrylic acid esters market rose significantly to $X in 2022, picking up by X% against the previous year. In general, consumption continues to indicate resilient growth. Acrylic acid esters consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Acrylic Acid Esters Production in Saudi Arabia

In value terms, acrylic acid esters production rose rapidly to $X in 2022 estimated in export price. Over the period under review, production showed a buoyant expansion. The pace of growth was the most pronounced in 2014 with an increase of X%. Acrylic acid esters production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

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Acrylic Acid Esters Exports

Exports from Saudi Arabia

In 2022, approx. X tons of esters of acrylic acid were exported from Saudi Arabia; waning by X% on the previous year. In general, exports, however, showed a significant increase. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, acrylic acid esters exports contracted rapidly to $X in 2022. Overall, exports, however, recorded a significant increase. The pace of growth was the most pronounced in 2014 when exports increased by X%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Kuwait (X tons) was the main destination for acrylic acid esters exports from Saudi Arabia, accounting for a X% share of total exports. Moreover, acrylic acid esters exports to Kuwait exceeded the volume sent to the second major destination, Egypt (X tons), twofold. The third position in this ranking was held by Bangladesh (X tons), with a X% share.

From 2013 to 2022, the average annual growth rate of volume to Kuwait stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (X% per year) and Bangladesh (X% per year).

In value terms, Kuwait ($X) remains the key foreign market for esters of acrylic acid exports from Saudi Arabia, comprising X% of total exports. The second position in the ranking was taken by Egypt ($X), with a X% share of total exports. It was followed by Tunisia, with a X% share.

From 2013 to 2022, the average annual growth rate of value to Kuwait stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (X% per year) and Tunisia (X% per year).

Export Prices by Country

The average acrylic acid esters export price stood at $X per ton in 2022, dropping by X% against the previous year. In general, the export price saw a perceptible downturn. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Morocco ($X per ton), while the average price for exports to Kuwait ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Morocco (X%), while the prices for the other major destinations experienced more modest paces of growth.

Acrylic Acid Esters Imports

Imports into Saudi Arabia

In 2022, purchases abroad of esters of acrylic acid decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, imports continue to indicate a abrupt decrease. The pace of growth was the most pronounced in 2016 when imports increased by X% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, acrylic acid esters imports declined notably to $X in 2022. Over the period under review, imports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Singapore (X tons), Belgium (X tons) and China (X tons) were the main suppliers of acrylic acid esters imports to Saudi Arabia, together comprising X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Singapore ($X), China ($X) and Belgium ($X) appeared to be the largest acrylic acid esters suppliers to Saudi Arabia, with a combined X% share of total imports.

Among the main suppliers, Singapore, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average acrylic acid esters import price amounted to $X per ton, with a decrease of X% against the previous year. Overall, the import price continues to indicate a noticeable curtailment. The pace of growth was the most pronounced in 2017 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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