Belgium: Phenylacetic Acid Market 2024

Phenylacetic Acid Market Size in Belgium

In 2022, the Belgian phenylacetic acid market increased by X% to $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption posted buoyant growth. Phenylacetic acid consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Phenylacetic Acid Production in Belgium

In value terms, phenylacetic acid production contracted remarkably to $X in 2022 estimated in export price. In general, production recorded a abrupt contraction. The pace of growth was the most pronounced in 2017 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Phenylacetic Acid Exports

Exports from Belgium

After two years of growth, shipments abroad of phenylacetic acid, its salts and esters decreased by X% to X tons in 2022. In general, exports continue to indicate a perceptible setback. The pace of growth appeared the most rapid in 2020 with an increase of X%. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, phenylacetic acid exports skyrocketed to $X in 2022. Overall, exports showed a mild decline. The pace of growth was the most pronounced in 2020 when exports increased by X%. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Spain (X tons), Italy (X tons) and Saudi Arabia (X tons) were the main destinations of phenylacetic acid exports from Belgium, with a combined X% share of total exports. Germany, China, France, Turkey, Poland, Slovenia, the UK, India, the Netherlands and South Africa lagged somewhat behind, together comprising a further X%.

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

In value terms, Italy ($X), France ($X) and Spain ($X) constituted the largest markets for phenylacetic acid exported from Belgium worldwide, with a combined X% share of total exports. Germany, Saudi Arabia, Poland, Turkey, China, the UK, the Netherlands, Slovenia, South Africa and India lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Saudi Arabia, with a CAGR of X%, 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

In 2022, the average phenylacetic acid export price amounted to $X per ton, jumping by X% against the previous year. Overall, export price indicated a moderate expansion 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, phenylacetic acid export price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to India ($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 Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

Phenylacetic Acid Imports

Imports into Belgium

In 2022, approx. X tons of phenylacetic acid, its salts and esters were imported into Belgium; growing by X% compared with 2021. In general, imports saw slight growth. The most prominent rate of growth was recorded in 2020 with an increase of X%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, phenylacetic acid imports skyrocketed to $X in 2022. Over the period under review, imports posted strong growth. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) constituted the largest phenylacetic acid supplier to Belgium, accounting for a X% share of total imports. Moreover, phenylacetic acid imports from the United States exceeded the figures recorded by the second-largest supplier, India (X tons), fivefold. The third position in this ranking was held by Italy (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Italy (X% per year).

In value terms, the United States ($X) constituted the largest supplier of phenylacetic acid, its salts and esters to Belgium, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by India, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and India (X% per year).

Import Prices by Country

The average phenylacetic acid import price stood at $X per ton in 2022, falling by X% against the previous year. Overall, the import price, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2015 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2021, and then fell sharply in the following year.

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

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

Source: IndexBox Platform

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