Middle East: Market for Industrial Monocarboxylic Fatty Acids 2024

Market Size for Industrial Monocarboxylic Fatty Acids in the Middle East

The Middle Eastern industrial monocarboxylic fatty acids market reached $X in 2022, increasing by X% against the previous year. The market value 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 throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2020; afterwards, it flattened through to 2022.

Production of Industrial Monocarboxylic Fatty Acids in the Middle East

In value terms, industrial monocarboxylic fatty acids production reached $X in 2022 estimated in export price. The total production indicated a moderate expansion from 2012 to 2022: its value 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, production decreased by X% against 2019 indices. The growth pace was the most rapid in 2017 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Industrial Monocarboxylic Fatty Acids

Exports in the Middle East

In 2022, overseas shipments of industrial monocarboxylic fatty acids increased by X% to X tons, rising for the fourth year in a row after three years of decline. Overall, exports recorded a buoyant increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports hit record highs 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. Over the period under review, exports posted prominent growth. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

In 2022, Turkey (X tons), distantly followed by Saudi Arabia (X tons), Iran (X tons), Israel (X tons) and Iraq (X tons) were the major exporters of industrial monocarboxylic fatty acids, together achieving X% of total exports. The United Arab Emirates (X tons) followed a long way behind the leaders.

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

In value terms, the largest industrial monocarboxylic fatty acids supplying countries in the Middle East were Turkey ($X), Saudi Arabia ($X) and Israel ($X), with a combined X% share of total exports. Iran, Iraq and the United Arab Emirates lagged somewhat behind, together accounting for a further X%.

In terms of the main exporting countries, Iran, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, with an increase of X% against the previous year. Export price indicated a mild increase 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, industrial monocarboxylic fatty acids export price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. Over the period under review, the export prices attained the maximum in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Israel ($X per ton), while Iran ($X per ton) was amongst the lowest.

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

Imports of Industrial Monocarboxylic Fatty Acids

Imports in the Middle East

In 2022, supplies from abroad of industrial monocarboxylic fatty acids increased by X% to X tons, rising for the second year in a row after three years of decline. Total imports indicated strong growth from 2012 to 2022: its volume 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, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. The volume of import peaked in 2022 and is likely to see gradual growth in the near future.

In value terms, industrial monocarboxylic fatty acids imports soared to $X in 2022. Overall, imports enjoyed buoyant growth. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

In 2022, Turkey (X tons) represented the largest importer of industrial monocarboxylic fatty acids, achieving X% of total imports. Israel (X tons) held the second position in the ranking, distantly followed by the United Arab Emirates (X tons). All these countries together held near X% share of total imports.

Imports into Turkey increased at an average annual rate of X% from 2012 to 2022. At the same time, the United Arab Emirates (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, Israel (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 Israel (X p.p.) displayed negative dynamics.

In value terms, the largest industrial monocarboxylic fatty acids importing markets in the Middle East were Turkey ($X), Israel ($X) and the United Arab Emirates ($X), together accounting for X% of total imports.

In terms of the main importing countries, the United Arab Emirates, with a CAGR of X%, saw 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

In 2022, the import price in the Middle East amounted to $X per ton, picking up by X% against the previous year. Import price indicated a temperate increase 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, industrial monocarboxylic fatty acids import price increased by X% against 2018 indices. The pace of growth was the most pronounced in 2018 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 years to come.

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 the United Arab Emirates ($X per ton), while Turkey ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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