Belgium: Acrylic Acid Esters Market 2024

Acrylic Acid Esters Market Size in Belgium

In 2022, the Belgian acrylic acid esters market decreased by -49.1% to $X, falling for the fourth consecutive year after seven years of growth. Over the period under review, consumption saw a abrupt shrinkage. Acrylic acid esters consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Acrylic Acid Esters Production in Belgium

In value terms, acrylic acid esters production expanded remarkably to $X in 2022 estimated in export price. In general, production, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of 64%. Over the period under review, production hit record highs in 2022 and is likely to see steady growth in years to come.

Acrylic Acid Esters Exports

Exports from Belgium

In 2022, after four years of growth, there was significant decline in shipments abroad of esters of acrylic acid, when their volume decreased by -49.1% to X tons. Over the period under review, exports showed a perceptible curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 64% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2021, and then fell significantly in the following year.

In value terms, acrylic acid esters exports contracted notably to $X in 2022. Overall, exports recorded a perceptible decline. The most prominent rate of growth was recorded in 2021 with an increase of 99% against the previous year. As a result, the exports attained the peak of $X, and then reduced notably in the following year.

Exports by Country

Germany (X tons), the United States (X tons) and the UK (X tons) were the main destinations of acrylic acid esters exports from Belgium, together accounting for 48% of total exports. Slovenia, Switzerland, Turkey, France, China, Finland, Sweden, the Netherlands, Saudi Arabia and Italy lagged somewhat behind, together comprising a further 46%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Slovenia (with a CAGR of +41.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for acrylic acid esters exported from Belgium were Germany ($X), the United States ($X) and the UK ($X), with a combined 49% share of total exports. France, China, Switzerland, Turkey, Slovenia, Sweden, Finland, the Netherlands, Italy and Saudi Arabia lagged somewhat behind, together comprising a further 44%.

Slovenia, with a CAGR of +36.2%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average acrylic acid esters export price amounted to $X per ton, rising by 13% against the previous year. Over the period under review, export price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, acrylic acid esters export price increased by +62.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 44% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Sweden ($X per ton), while the average price for exports to Slovenia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+5.4%), while the prices for the other major destinations experienced more modest paces of growth.

Acrylic Acid Esters Imports

Imports into Belgium

After two years of growth, overseas purchases of esters of acrylic acid decreased by -61.9% to X tons in 2022. Over the period under review, imports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2020 when imports increased by 161% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then reduced remarkably in the following year.

In value terms, acrylic acid esters imports declined dramatically to $X in 2022. Overall, imports showed a pronounced curtailment. The most prominent rate of growth was recorded in 2021 with an increase of 122%. As a result, imports reached the peak of $X, and then fell dramatically in the following year.

Imports by Country

In 2022, Germany (X tons) constituted the largest acrylic acid esters supplier to Belgium, with a 49% share of total imports. Moreover, acrylic acid esters imports from Germany exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), fourfold. China (X tons) ranked third in terms of total imports with an 8.5% share.

From 2012 to 2022, the average annual growth rate of volume from Germany stood at -4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+15.6% per year) and China (+11.6% per year).

In value terms, Germany ($X) constituted the largest supplier of esters of acrylic acid to Belgium, comprising 41% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 14% share of total imports. It was followed by China, with a 9.8% share.

From 2012 to 2022, the average annual growth rate of value from Germany stood at -4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+16.6% per year) and China (+8.5% per year).

Import Prices by Country

In 2022, the average acrylic acid esters import price amounted to $X per ton, with an increase of 12% against the previous year. Overall, import price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, acrylic acid esters import price increased by +92.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 71%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Germany ($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 Netherlands (+3.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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