Austria: Acetic Acid Market 2024

Acetic Acid Market Size in Austria

The Austrian acetic acid market expanded significantly to $X in 2021, picking up by 5.1% against the previous year. In general, consumption continues to indicate a remarkable increase. Over the period under review, the market attained the peak level in 2021 and is likely to see steady growth in years to come.

Acetic Acid Production in Austria

In value terms, acetic acid production totaled $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 4.9% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Acetic Acid Exports

Exports from Austria

In 2019, exports of acetic acid from Austria dropped modestly to X tons, remaining relatively unchanged against 2018 figures. Overall, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 6.4%. The exports peaked at X tons in 2015; however, from 2016 to 2019, the exports remained at a lower figure.

In value terms, acetic acid exports reduced to $X in 2019. The total export value increased at an average annual rate of +2.9% over the period from 2012 to 2019; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 35%. As a result, the exports attained the peak of $X, and then reduced in the following year.

Exports by Country

Germany (X tons), Denmark (X tons) and the Netherlands (X tons) were the main destinations of acetic acid exports from Austria, with a combined 62% share of total exports.

From 2012 to 2019, the biggest increases were recorded for the Netherlands (with a CAGR of +37.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Denmark ($X) and Italy ($X) were the largest markets for acetic acid exported from Austria worldwide, with a combined 62% share of total exports. These countries were followed by the Netherlands, Greece, Poland, France, Slovenia, Belgium and Hungary, which together accounted for a further 28%.

In terms of the main countries of destination, the Netherlands, with a CAGR of +34.2%, recorded 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

The average acetic acid export price stood at $X per ton in 2019, declining by -7.4% against the previous year. Over the last seven-year period, it increased at an average annual rate of +2.6%. The most prominent rate of growth was recorded in 2018 an increase of 27%. As a result, the export price attained the peak level of $X per ton, and then contracted in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Greece ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+5.3%), while the prices for the other major destinations experienced more modest paces of growth.

Acetic Acid Imports

Imports into Austria

For the fourth year in a row, Austria recorded growth in overseas purchases of acetic acid, which increased by 69% to X tons in 2021. Over the period under review, imports posted a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, acetic acid imports skyrocketed to $X in 2021. Overall, imports recorded a prominent expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X tons) constituted the largest acetic acid supplier to Austria, accounting for a 40% share of total imports. Moreover, acetic acid imports from Germany exceeded the figures recorded by the second-largest supplier, Italy (X tons), twofold. The third position in this ranking was taken by Belgium (X tons), with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany stood at +3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+10.0% per year) and Belgium (+13.6% per year).

In value terms, Germany ($X) constituted the largest supplier of acetic acid to Austria, comprising 45% of total imports. The second position in the ranking was held by Italy ($X), with a 16% share of total imports. It was followed by Belgium, with a 14% share.

From 2012 to 2021, the average annual growth rate of value from Germany amounted to +13.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+21.8% per year) and Belgium (+25.7% per year).

Import Prices by Country

The average acetic acid import price stood at $X per ton in 2021, rising by 38% against the previous year. Over the period under review, the import price showed a strong increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Serbia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+28.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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