Belgium: Salicylic Acid Market 2025

Salicylic Acid Market Size in Belgium

The Belgian salicylic acid market soared to $X in 2021, picking up by 23% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a slight increase. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Salicylic Acid Exports

Exports from Belgium

In 2021, approx. X tons of salicylic acid and its salts were exported from Belgium; approximately mirroring the previous year's figure. Overall, exports, however, showed a measured increase. The growth pace was the most rapid in 2020 when exports increased by 650%. As a result, the exports attained the peak of X tons, leveling off in the following year.

In value terms, salicylic acid exports soared to $X in 2021. In general, exports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2020 with an increase of 320%. The exports peaked in 2021 and are likely to see gradual growth in years to come.

Exports by Country

Germany (X tons) was the main destination for salicylic acid exports from Belgium, with a 86% share of total exports. Moreover, salicylic acid exports to Germany exceeded the volume sent to the second major destination, Italy (X tons), more than tenfold. The Netherlands (X tons) ranked third in terms of total exports with a 3.7% share.

From 2012 to 2021, the average annual growth rate of volume to Germany stood at +77.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+67.8% per year) and the Netherlands (+9.9% per year).

In value terms, the largest markets for salicylic acid exported from Belgium were Germany ($X), Italy ($X) and the Netherlands ($X), together comprising 88% of total exports.

Italy, with a CAGR of +121.4%, saw the highest rates of growth with regard to the value of exports, in terms of 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

The average salicylic acid export price stood at $X per ton in 2021, jumping by 40% against the previous year. Over the period under review, the export price enjoyed a strong expansion. The most prominent rate of growth was recorded in 2017 an increase of 47%. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+32.0%), while the prices for the other major destinations experienced more modest paces of growth.

Salicylic Acid Imports

Imports into Belgium

In 2021, overseas purchases of salicylic acid and its salts increased by 5.9% to X tons, rising for the third year in a row after six years of decline. Overall, imports enjoyed a perceptible increase. The most prominent rate of growth was recorded in 2020 when imports increased by 141%. Over the period under review, imports attained the peak figure in 2021 and are likely to continue growth in the immediate term.

In value terms, salicylic acid imports declined modestly to $X in 2021. In general, imports showed a perceptible increase. The most prominent rate of growth was recorded in 2020 when imports increased by 79%. As a result, imports reached the peak of $X, and then shrank slightly in the following year.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of salicylic acid to Belgium, with a 66% share of total imports. Moreover, salicylic acid imports from China exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), sixfold. The third position in this ranking was taken by France (X tons), with a 9.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-2.5% per year) and France (+1.5% per year).

In value terms, the largest salicylic acid suppliers to Belgium were China ($X), France ($X) and Germany ($X), with a combined 82% share of total imports. These countries were followed by India and the Netherlands, which together accounted for a further 15%.

Among the main suppliers, India, with a CAGR of +86.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average salicylic acid import price stood at $X per ton in 2021, reducing by -7.8% against the previous year. Overall, the import price, however, enjoyed perceptible growth. The pace of growth appeared the most rapid in 2017 an increase of 58%. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the average import prices remained at a lower figure.

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 France ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, 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 mixed trend patterns.

Source: IndexBox Platform

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