Saudi Arabia: Market for Industrial Monocarboxylic Fatty Acids 2024

Market Size for Industrial Monocarboxylic Fatty Acids in Saudi Arabia

In 2022, the Saudi industrial monocarboxylic fatty acids market decreased by X% to $X, falling for the second year in a row after four years of growth. In general, consumption, however, saw a perceptible increase. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Industrial Monocarboxylic Fatty Acids in Saudi Arabia

In value terms, industrial monocarboxylic fatty acids production stood at $X in 2022 estimated in export price. In general, production continues to indicate a measured increase. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Industrial monocarboxylic fatty acids production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Industrial Monocarboxylic Fatty Acids

Exports from Saudi Arabia

In 2022, the amount of industrial monocarboxylic fatty acids exported from Saudi Arabia skyrocketed to X tons, growing by X% compared with the previous year's figure. Overall, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2015 when exports increased by X%. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, industrial monocarboxylic fatty acids exports skyrocketed to $X in 2022. In general, exports showed buoyant growth. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

The United Arab Emirates (X tons), Turkey (X tons) and Kuwait (X tons) were the main destinations of industrial monocarboxylic fatty acids exports from Saudi Arabia, with a combined X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) remains the key foreign market for industrial monocarboxylic fatty acids exports from Saudi Arabia, comprising X% of total exports. The second position in the ranking was taken by Belgium ($X), with a X% share of total exports. It was followed by Malaysia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (X% per year) and Malaysia (X% per year).

Export Prices by Country

The average industrial monocarboxylic fatty acids export price stood at $X per ton in 2022, which is down by X% against the previous year. Over the period under review, the export price showed a abrupt contraction. The growth pace was the most rapid in 2021 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 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 Belgium ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Industrial Monocarboxylic Fatty Acids

Imports into Saudi Arabia

In 2021, the amount of industrial monocarboxylic fatty acids imported into Saudi Arabia shrank modestly to X tons, remaining stable against the year before. In general, imports recorded a abrupt setback. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, industrial monocarboxylic fatty acids imports expanded rapidly to $X in 2021. Overall, imports showed a abrupt descent. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

The United States (X tons), India (X tons) and Egypt (X tons) were the main suppliers of industrial monocarboxylic fatty acids imports to Saudi Arabia, together comprising X% of total imports. Malaysia, the United Arab Emirates, Belgium and Indonesia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest industrial monocarboxylic fatty acids suppliers to Saudi Arabia were India ($X), the United States ($X) and the United Arab Emirates ($X), with a combined X% share of total imports. Malaysia, Belgium, Egypt and Indonesia lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Indonesia, with a CAGR of X%, recorded the highest growth rate of 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

The average industrial monocarboxylic fatty acids import price stood at $X per ton in 2021, surging by X% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2017 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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