United Arab Emirates: Acetic Acid Market 2024

Acetic Acid Market Size in the United Arab Emirates

For the third year in a row, the acetic acid market in the United Arab Emirates recorded growth in sales value, which increased by X% to $X in 2022. In general, consumption saw prominent growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Acetic Acid Production in the United Arab Emirates

In value terms, acetic acid production soared to $X in 2022 estimated in export price. In general, production, however, saw a deep setback. The pace of growth was the most pronounced in 2020 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

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Acetic Acid Exports

Exports from the United Arab Emirates

In 2022, shipments abroad of acetic acid decreased by X% to X tons, falling for the second year in a row after five years of growth. Overall, exports, however, enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, acetic acid exports reduced dramatically to $X in 2022. In general, exports, however, saw a prominent increase. The growth pace was the most rapid in 2020 with an increase of X%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Oman (X tons), Iraq (X tons) and Yemen (X tons) were the main destinations of acetic acid exports from the United Arab Emirates, together accounting for X% of total exports.

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

In value terms, Iraq ($X), Oman ($X) and Yemen ($X) appeared to be the largest markets for acetic acid exported from the United Arab Emirates worldwide, with a combined X% share of total exports. Jordan, Tunisia, Sudan and Pakistan lagged somewhat behind, together accounting for a further X%.

Tunisia, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average acetic acid export price stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the export price showed prominent growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Sudan ($X per ton), while the average price for exports to Jordan ($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 Tunisia (X%), while the prices for the other major destinations experienced mixed trend patterns.

Acetic Acid Imports

Imports into the United Arab Emirates

In 2022, overseas purchases of acetic acid decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports, however, recorded a significant increase. The pace of growth appeared the most rapid in 2017 with an increase of X%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, acetic acid imports skyrocketed to $X in 2022. Over the period under review, imports, however, enjoyed a significant increase. The growth pace was the most rapid in 2017 when imports increased by X%. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, Iraq (X tons) constituted the largest acetic acid supplier to the United Arab Emirates, accounting for a X% share of total imports. Moreover, acetic acid imports from Iraq exceeded the figures recorded by the second-largest supplier, Saudi Arabia (X tons), twofold. The third position in this ranking was taken by China (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Iraq was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (X% per year) and China (X% per year).

In value terms, Iraq ($X), South Korea ($X) and China ($X) constituted the largest acetic acid suppliers to the United Arab Emirates, with a combined X% share of total imports. India, Saudi Arabia and Malaysia lagged somewhat behind, together comprising a further X%.

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

Import Prices by Country

The average acetic acid import price stood at $X per ton in 2022, surging by X% against the previous year. In general, import price indicated modest growth 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, acetic acid import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform