Middle East: Market for Saturated Acyclic Monocarboxylic Acids 2024

Market Size for Saturated Acyclic Monocarboxylic Acids in the Middle East

In 2023, after two years of growth, there was significant decline in the Middle Eastern saturated acyclic monocarboxylic acids market, when its value decreased by X% to $X. The total consumption indicated tangible growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2022, and then fell in the following year.

Production of Saturated Acyclic Monocarboxylic Acids in the Middle East

In value terms, saturated acyclic monocarboxylic acids production expanded sharply to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2022 to 2023, production growth failed to regain momentum.

Exports of Saturated Acyclic Monocarboxylic Acids

Exports in the Middle East

Saturated acyclic monocarboxylic acids exports surged to X tons in 2023, jumping by X% compared with the year before. Overall, exports, however, recorded a mild descent. The volume of export peaked at X tons in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

In value terms, saturated acyclic monocarboxylic acids exports surged to $X in 2023. Over the period under review, exports continue to indicate a temperate increase. Over the period under review, the exports attained the maximum at $X in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

Exports by Country

Saudi Arabia was the key exporter of saturated acyclic monocarboxylic acids in the Middle East, with the volume of exports accounting for X tons, which was near X% of total exports in 2023. Turkey (X tons) held the second position in the ranking, followed by Iran (X tons). All these countries together took near X% share of total exports. The United Arab Emirates (X tons) took a relatively small share of total exports.

From 2012 to 2023, 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 2012-2023. By contrast, Iran (X%) illustrated a downward trend over the same period. Turkey (X p.p.) significantly strengthened its position in terms of the total exports, while Iran and Saudi Arabia saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) emerged as the largest saturated acyclic monocarboxylic acids supplier in the Middle East, comprising X% of total exports. The second position in the ranking was taken by Turkey ($X), with a X% share of total exports. It was followed by Iran, with a X% share.

In Saudi Arabia, saturated acyclic monocarboxylic acids exports expanded at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (X% per year) and Iran (X% per year).

Export Prices by Country

In 2023, the export price in the Middle East amounted to $X per ton, waning by X% against the previous year. Overall, the export price, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2021 an increase of X%. The level of export peaked at $X per ton in 2022, and then fell 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 2023, 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

Saturated acyclic monocarboxylic acids imports fell to X tons in 2023, waning by X% compared with the previous year's figure. The total import volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, saturated acyclic monocarboxylic acids imports dropped markedly to $X in 2023. Total imports indicated perceptible growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of import peaked at $X in 2022, and then dropped rapidly in the following year.

Imports by Country

Turkey represented the major importing country with an import of around X tons, which recorded X% of total imports. It was distantly followed by the United Arab Emirates (X tons) and Israel (X tons), together mixing up a X% share of total imports. Saudi Arabia (X tons), Iran (X tons) and Jordan (X tons) took a little share of total imports.

Turkey was also the fastest-growing in terms of the saturated acyclic monocarboxylic acids imports, with a CAGR of X% from 2012 to 2023. At the same time, the United Arab Emirates (X%) displayed positive paces of growth. Israel experienced a relatively flat trend pattern. By contrast, Iran (X%), Jordan (X%) and Saudi Arabia (X%) illustrated a downward trend over the same period. While the share of Turkey (X p.p.) increased significantly in terms of the total imports from 2012-2023, 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 ($X) constitutes the largest market for imported saturated acyclic monocarboxylic acids in the Middle East, comprising X% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Israel, with a X% share.

In Turkey, saturated acyclic monocarboxylic acids imports increased at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Israel (X% per year).

Import Prices by Country

In 2023, the import price in the Middle East amounted to $X per ton, dropping by X% against the previous year. Over the period under review, the import price, however, recorded a slight expansion. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, import prices hit record highs at $X per ton in 2022, and then contracted in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Iran ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2023, 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