Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Saudi Arabia - 2022
Contents:
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Saudi Arabia (FOB) - 2022
- Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Saudi Arabia
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Saudi Arabia (FOB) - 2022
The average export price for acids; saturated acyclic monocarboxylic acids; formic acids stood at $574 per ton in 2021, increasing by 13% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt setback. The export price peaked at $1,545 per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kuwait ($1,462 per ton), while the average price for exports to the United Arab Emirates ($435 per ton) was amongst the lowest.
From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Kuwait (+10.0%), while the prices for the other major destinations experienced mixed trend patterns.
Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Saudi Arabia
In 2022, shipments abroad of acids; saturated acyclic monocarboxylic acids; formic acids decreased by -90.6% to 99 tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 268% against the previous year. As a result, the exports reached the peak of 1.1K tons, and then fell dramatically in the following year.
In value terms, exports of acids; saturated acyclic monocarboxylic acids; formic acids contracted dramatically to $71K in 2022. In general, exports saw a pronounced reduction. The most prominent rate of growth was recorded in 2021 with an increase of 314% against the previous year. As a result, the exports reached the peak of $607K, and then dropped notably in the following year.
| Export of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Saudi Arabia (Thousand USD) | ||||
|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 |
| United Arab Emirates | N/A | 35.7 | 161 | 351.0% |
| Kuwait | N/A | N/A | 60.2 | 0% |
| Bahrain | 35.8 | 37.5 | 46.3 | 13.7% |
| Austria | N/A | N/A | 35.2 | 0% |
| Others | 44.2 | 73.2 | 304 | 162.3% |
| Total | 79.9 | 146 | 607 | 175.6% |
Top Export Markets for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid from Saudi Arabia in 2022:
- United Arab Emirates (370.8 tons)
- Bahrain (71.1 tons)
- Austria (45.3 tons)
- Kuwait (41.2 tons)
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