MENA: Acrylic Acid Esters Market 2024

Acrylic Acid Esters Market Size in MENA

The MENA's acrylic acid esters market totaled $X in 2023, standing approx. at the previous year. In general, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market remained at a somewhat lower figure.

Acrylic Acid Esters Production in MENA

In value terms, acrylic acid esters production rose sharply to $X in 2023 estimated in export price. Overall, production, however, continues to indicate a noticeable reduction. The pace of growth was the most pronounced in 2021 with an increase of X%. The level of production peaked at $X in 2012; however, from 2013 to 2023, production failed to regain momentum.

Acrylic Acid Esters Exports

Exports in MENA

In 2023, after two years of growth, there was significant decline in shipments abroad of esters of acrylic acid, when their volume decreased by X% to X tons. Overall, exports, however, recorded significant growth. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2023, the exports failed to regain momentum.

In value terms, acrylic acid esters exports shrank dramatically to $X in 2023. In general, exports, however, recorded significant growth. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia was the main exporting country with an export of around X tons, which recorded X% of total exports. Turkey (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by the United Arab Emirates (X%).

Exports from Saudi Arabia increased at an average annual rate of X% from 2012 to 2023. 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.) and Turkey (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of the United Arab Emirates (X p.p.) displayed negative dynamics.

In value terms, Saudi Arabia ($X) remains the largest acrylic acid esters supplier in MENA, comprising X% of total exports. The second position in the ranking was held by Turkey ($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%. In the other countries, the average annual rates were as follows: Turkey (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

In 2023, the export price in MENA amounted to $X per ton, which is down by X% against the previous year. Overall, the export price recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia ($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 a decline in the export price figures.

Acrylic Acid Esters Imports

Imports in MENA

In 2023, the amount of esters of acrylic acid imported in MENA rose significantly to X tons, increasing by X% compared with the year before. In general, imports saw a strong expansion. The growth pace was 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 failed to regain momentum.

In value terms, acrylic acid esters imports contracted markedly to $X in 2023. Over the period under review, imports posted a noticeable increase. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports remained at a lower figure.

Imports by Country

Turkey prevails in imports structure, reaching X tons, which was near X% of total imports in 2023. Egypt (X tons) held the second position in the ranking, followed by Iran (X tons). All these countries together took near X% share of total imports. The following importers - the United Arab Emirates (X tons) and Israel (X tons) - together made up X% of total imports.

From 2012 to 2023, average annual rates of growth with regard to acrylic acid esters imports into Turkey stood at X%. At the same time, Egypt (X%), Iran (X%) and the United Arab Emirates (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. By contrast, Israel (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Egypt, Turkey and Iran increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported esters of acrylic acid in MENA, comprising X% of total imports. The second position in the ranking was taken by Egypt ($X), with a X% share of total imports. It was followed by Iran, with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Turkey totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Egypt (X% per year) and Iran (X% per year).

Import Prices by Country

In 2023, the import price in MENA amounted to $X per ton, with a decrease of X% against the previous year. Overall, the import price continues to indicate a perceptible reduction. The pace of growth appeared the most rapid in 2018 when the import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2019 to 2023, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: 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 mixed trends in the import price figures.

Source: IndexBox Platform