Belarus: Monocarboxylic Acid Market 2024

Monocarboxylic Acid Market Size in Belarus

The Belarusian monocarboxylic acid market fell modestly to $X in 2022, flattening at the previous year. Over the period under review, the total consumption indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -17.4% against 2018 indices. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Monocarboxylic Acid Production in Belarus

In value terms, monocarboxylic acid production fell slightly to $X in 2022 estimated in export price. Overall, the total production indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +1.2% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 76% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Monocarboxylic Acid Exports

Exports from Belarus

After ten years of growth, shipments abroad of acrylic acid and its salts and other monocarboxylic acid decreased by -3.4% to X tons in 2022. Over the period under review, exports, however, continue to indicate a significant increase. The growth pace was the most rapid in 2017 with an increase of 180%. Over the period under review, the exports hit record highs at X tons in 2021, and then reduced in the following year.

In value terms, monocarboxylic acid exports stood at $X in 2022. In general, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 354% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Russia (X tons) was the main destination for monocarboxylic acid exports from Belarus, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Russia stood at +38.1%.

In value terms, Russia ($X) emerged as the key foreign market for acrylic acid and its salts and other monocarboxylic acid exports from Belarus.

From 2012 to 2022, the average annual growth rate of value to Russia amounted to +46.1%.

Export Prices by Country

The average monocarboxylic acid export price stood at $X per ton in 2022, picking up by 4.5% against the previous year. In general, the export price continues to indicate prominent growth. The pace of growth was the most pronounced in 2021 when the average export price increased by 124%. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Russia.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +62,667.4% per year.

Monocarboxylic Acid Imports

Imports into Belarus

In 2022, the amount of acrylic acid and its salts and other monocarboxylic acid imported into Belarus was estimated at X tons, surging by 3.7% against 2021. Over the period under review, imports, however, showed a pronounced decline. The growth pace was the most rapid in 2017 with an increase of 149% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, monocarboxylic acid imports soared to $X in 2022. In general, imports showed noticeable growth. The growth pace was the most rapid in 2017 with an increase of 106%. Over the period under review, imports reached the peak figure at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest monocarboxylic acid supplier to Belarus, accounting for a 39% share of total imports. Moreover, monocarboxylic acid imports from China exceeded the figures recorded by the second-largest supplier, Russia (X tons), twofold. The third position in this ranking was held by Poland (X tons), with a 15% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled -8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+14.5% per year) and Poland (+22.7% per year).

In value terms, China ($X) constituted the largest supplier of acrylic acid and its salts and other monocarboxylic acid to Belarus, comprising 37% of total imports. The second position in the ranking was taken by Russia ($X), with a 10% share of total imports. It was followed by Germany, with an 8.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to -2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+1.8% per year) and Germany (-4.0% per year).

Import Prices by Country

In 2022, the average monocarboxylic acid import price amounted to $X per ton, with an increase of 26% against the previous year. Over the period under review, import price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, monocarboxylic acid import price increased by +113.7% against 2017 indices. The growth pace was the most rapid in 2021 when the average import price increased by 33% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+12.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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