Middle East: Polycarboxylic Acid Market 2024

Polycarboxylic Acid Market Size in the Middle East

The Middle Eastern polycarboxylic acid market skyrocketed to $X in 2022, picking up by X% against the previous year. Overall, consumption showed a strong increase. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in the near future.

Polycarboxylic Acid Production in the Middle East

In value terms, polycarboxylic acid production reduced slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Polycarboxylic Acid Exports

Exports in the Middle East

In 2022, shipments abroad of polycarboxylic acids decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, showed measured growth. The pace of growth was the most pronounced in 2020 with an increase of X%. The volume of export peaked at X tons in 2021, and then reduced in the following year.

In value terms, polycarboxylic acid exports dropped to $X in 2022. In general, exports, however, continue to indicate a noticeable expansion. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, the exports reached the peak of $X, leveling off in the following year.

Exports by Country

Turkey was the largest exporting country with an export of about X tons, which reached X% of total exports. Iran (X tons) ranks second in terms of the total exports with a X% share, followed by Israel (X%). The United Arab Emirates (X tons) and Saudi Arabia (X tons) held a minor share of total exports.

Turkey was also the fastest-growing in terms of the polycarboxylic acids exports, with a CAGR of X% from 2012 to 2022. At the same time, Saudi Arabia (X%) displayed positive paces of growth. By contrast, Israel (X%), the United Arab Emirates (X%) and Iran (X%) illustrated a downward trend over the same period. While the share of Turkey (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (X p.p.), Israel (X p.p.) and Iran (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest polycarboxylic acid supplier in the Middle East, comprising X% of total exports. The second position in the ranking was taken by Israel ($X), with a X% share of total exports. It was followed by Iran, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Turkey amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Israel (X% per year) and Iran (X% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, increasing by X% against the previous year. Export price indicated slight growth 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, polycarboxylic acid export price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is likely to see steady growth in the immediate term.

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 Turkey ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced mixed trends in the export price figures.

Polycarboxylic Acid Imports

Imports in the Middle East

In 2022, overseas purchases of polycarboxylic acids increased by X% to X tons, rising for the fourth consecutive year after four years of decline. In general, imports posted buoyant growth. The pace of growth was the most pronounced in 2020 when imports increased by X%. The volume of import peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, polycarboxylic acid imports soared to $X in 2022. Overall, imports showed buoyant growth. The growth pace was the most rapid in 2021 when imports increased by X%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

Turkey was the main importer of polycarboxylic acids in the Middle East, with the volume of imports amounting to X tons, which was near X% of total imports in 2022. Oman (X tons) held the second position in the ranking, followed by Saudi Arabia (X tons). All these countries together held near X% share of total imports. The United Arab Emirates (X tons) took a minor share of total imports.

Turkey was also the fastest-growing in terms of the polycarboxylic acids imports, with a CAGR of X% from 2012 to 2022. At the same time, Saudi Arabia (X%) and Oman (X%) displayed positive paces of growth. By contrast, the United Arab Emirates (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey and Saudi Arabia increased by X and X percentage points, respectively.

In value terms, Turkey ($X) constitutes the largest market for imported polycarboxylic acids in the Middle East, comprising X% of total imports. The second position in the ranking was taken by Oman ($X), with an X% share of total imports. It was followed by Saudi Arabia, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Turkey amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Oman (X% per year) and Saudi Arabia (X% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, increasing by X% against the previous year. In general, the import price, however, saw a noticeable reduction. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, 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 the United Arab Emirates ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, 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 import price figures.

Source: IndexBox Platform

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