MENA: Ethyl Acetate Market 2024

Ethyl Acetate Market Size in MENA

After two years of growth, the MENA's ethyl acetate market decreased by X% to $X in 2023. In general, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2018; however, from 2019 to 2023, consumption remained at a lower figure.

Ethyl Acetate Production in MENA

In value terms, ethyl acetate production expanded remarkably to $X in 2023 estimated in export price. The total production indicated a prominent expansion 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. Based on 2023 figures, production decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2022 to 2023, production growth failed to regain momentum.

Ethyl Acetate Exports

Exports in MENA

In 2023, overseas shipments of ethyl acetate decreased by X% to X tons, falling for the second consecutive year after two years of growth. In general, exports, however, enjoyed significant growth. The pace of growth appeared the most rapid in 2013 when exports increased by X%. The volume of export peaked at X tons in 2014; however, from 2015 to 2023, the exports remained at a lower figure.

In value terms, ethyl acetate exports dropped to $X in 2023. Over the period under review, exports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2013 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

Exports by Country

Saudi Arabia represented the largest exporter of ethyl acetate in MENA, with the volume of exports resulting at X tons, which was near X% of total exports in 2023. It was distantly followed by Turkey (X tons) and the United Arab Emirates (X tons), together committing an X% share of total exports.

From 2012 to 2023, average annual rates of growth with regard to ethyl acetate 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 MENA, with a CAGR of X% from 2012-2023. While the share of Saudi Arabia (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of the United Arab Emirates (X p.p.) and Turkey (X p.p.) displayed negative dynamics.

In value terms, Saudi Arabia ($X) remains the largest ethyl acetate supplier in MENA, comprising X% of total exports. The second position in the ranking was held by Turkey ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in Saudi Arabia amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2023, with a decrease of X% against the previous year. Export price indicated a modest increase from 2012 to 2023: its price 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. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2022, and then contracted in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2023, amid the top suppliers, 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 2023, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the other leaders experienced mixed trends in the export price figures.

Ethyl Acetate Imports

Imports in MENA

In 2023, approx. X tons of ethyl acetate were imported in MENA; reducing by X% against the previous year's figure. Over the period under review, imports continue to indicate a slight shrinkage. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2023, the growth of imports failed to regain momentum.

In value terms, ethyl acetate imports reduced dramatically to $X in 2023. Overall, imports showed a slight decrease. The growth pace was the most rapid in 2021 when imports increased by X%. Over the period under review, imports reached the peak figure at $X in 2022, and then contracted notably in the following year.

Imports by Country

Turkey represented the main importer of ethyl acetate in MENA, with the volume of imports reaching X tons, which was near X% of total imports in 2023. It was distantly followed by Egypt (X tons) and the United Arab Emirates (X tons), together achieving a X% share of total imports. Israel (X tons), Algeria (X tons), Morocco (X tons), Lebanon (X tons) and Tunisia (X tons) took a relatively small share of total imports.

Turkey experienced a relatively flat trend pattern with regard to volume of imports of ethyl acetate. At the same time, Egypt (X%) and Morocco (X%) displayed positive paces of growth. Moreover, Egypt emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2023. Tunisia and Algeria experienced a relatively flat trend pattern. By contrast, Lebanon (X%), the United Arab Emirates (X%) and Israel (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Egypt and Turkey increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest ethyl acetate importing markets in MENA were Turkey ($X), Egypt ($X) and the United Arab Emirates ($X), together accounting for X% of total imports.

Egypt, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in MENA amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2022 to 2023, the import prices failed to regain momentum.

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 Tunisia ($X per ton), while Turkey ($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