Middle East: Market for Salts Of Acetic Acid 2024

Market Size for Salts Of Acetic Acid in the Middle East

The Middle Eastern salts of acetic acid market contracted to $X in 2023, reducing by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2022, and then dropped in the following year.

Production of Salts Of Acetic Acid in the Middle East

In value terms, salts of acetic acid production shrank slightly to $X in 2023 estimated in export price. The total production 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. Based on 2023 figures, production decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2018 to 2023, production growth remained at a somewhat lower figure.

Exports of Salts Of Acetic Acid

Exports in the Middle East

In 2023, after two years of decline, there was significant growth in overseas shipments of salts of acetic acid, when their volume increased by X% to X tons. In general, exports recorded a measured increase. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2023, the exports failed to regain momentum.

In value terms, salts of acetic acid exports skyrocketed to $X in 2023. Overall, exports enjoyed a noticeable increase. The most prominent rate of growth was recorded in 2014 when exports increased by X%. As a result, the exports attained the peak of $X. From 2015 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2023, Turkey (X tons), distantly followed by Saudi Arabia (X tons), Israel (X tons), Oman (X tons) and Iran (X tons) were the major exporters of salts of acetic acid, together mixing up X% of total exports. The United Arab Emirates (X tons) took a relatively small share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Israel (with a CAGR of X%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Turkey ($X), Israel ($X) and Iran ($X) were the countries with the highest levels of exports in 2023, together comprising X% of total exports.

Among the main exporting countries, Israel, 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 2023, the export price in the Middle East amounted to $X per ton, growing by X% against the previous year. Export price indicated a slight expansion 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. Based on 2023 figures, salts of acetic acid export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Israel ($X per ton), while Oman ($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 Salts Of Acetic Acid

Imports in the Middle East

Salts of acetic acid imports fell to X tons in 2023, shrinking by X% compared with the year before. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, salts of acetic acid imports fell to $X in 2023. In general, imports saw a perceptible slump. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

Imports by Country

Turkey represented the major importer of salts of acetic acid in the Middle East, with the volume of imports amounting to X tons, which was approx. X% of total imports in 2023. Israel (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by the United Arab Emirates (X%) and Iran (X%). The following importers - Syrian Arab Republic (X tons), Jordan (X tons) and Kuwait (X tons) - each recorded a X% share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Jordan (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest salts of acetic acid importing markets in the Middle East were Turkey ($X), Israel ($X) and the United Arab Emirates ($X), together accounting for X% of total imports. Iran, Jordan, Kuwait and Syrian Arab Republic lagged somewhat behind, together accounting for a further X%.

Jordan, with a CAGR of X%, recorded 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

The import price in the Middle East stood at $X per ton in 2023, declining by X% against the previous year. Overall, the import price continues to indicate a slight decline. The pace of growth appeared the most rapid in 2020 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.

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 Israel ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Syrian Arab Republic (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform