Benelux: Monocarboxylic Acid Market 2024

Monocarboxylic Acid Market Size in Benelux

The Benelux monocarboxylic acid market totaled $X in 2022, approximately mirroring the previous year. In general, consumption recorded a noticeable descent. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Monocarboxylic Acid Production in Benelux

In value terms, monocarboxylic acid production reached $X in 2022 estimated in export price. In general, production saw a noticeable downturn. The most prominent rate of growth was recorded in 2014 when the production volume increased by 27%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Monocarboxylic Acid Exports

Exports in Benelux

In 2022, shipments abroad of acrylic acid and its salts and other monocarboxylic acid decreased by -20.4% to X tons for the first time since 2018, thus ending a three-year rising trend. Total exports indicated a perceptible increase from 2012 to 2022: its volume increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +60.8% against 2018 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 42%. As a result, the exports reached the peak of X tons, and then dropped remarkably in the following year.

In value terms, monocarboxylic acid exports shrank sharply to $X in 2022. Over the period under review, exports, however, enjoyed temperate growth. The most prominent rate of growth was recorded in 2021 with an increase of 62% against the previous year. As a result, the exports reached the peak of $X, and then reduced markedly in the following year.

Exports by Country

Belgium represented the main exporting country with an export of around X tons, which amounted to 85% of total exports. It was distantly followed by the Netherlands (X tons), generating a 15% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to monocarboxylic acid exports from Belgium stood at +1.2%. At the same time, the Netherlands (+8.3%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in Benelux, with a CAGR of +8.3% from 2012-2022. From 2012 to 2022, the share of the Netherlands increased by +6.9 percentage points.

In value terms, Belgium ($X) remains the largest monocarboxylic acid supplier in Benelux, comprising 73% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 27% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Belgium was relatively modest.

Export Prices by Country

The export price in Benelux stood at $X per ton in 2022, dropping by -7.1% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the export price increased by 22%. The level of export peaked at $X per ton in 2021, and then fell in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while Belgium amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.0%).

Monocarboxylic Acid Imports

Imports in Benelux

In 2022, overseas purchases of acrylic acid and its salts and other monocarboxylic acid decreased by -25% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when imports increased by 24%. Over the period under review, imports hit record highs at X tons in 2021, and then dropped remarkably in the following year.

In value terms, monocarboxylic acid imports declined rapidly to $X in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 42% against the previous year. As a result, imports reached the peak of $X, and then dropped sharply in the following year.

Imports by Country

In 2022, the Netherlands (X tons) represented the key importer of acrylic acid and its salts and other monocarboxylic acid, generating 66% of total imports. It was distantly followed by Belgium (X tons), making up a 34% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +3.6%).

In value terms, the Netherlands ($X) constitutes the largest market for imported acrylic acid and its salts and other monocarboxylic acid in Benelux, comprising 72% of total imports. The second position in the ranking was taken by Belgium ($X), with a 28% share of total imports.

In the Netherlands, monocarboxylic acid imports expanded at an average annual rate of +3.7% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in Benelux amounted to $X per ton, with an increase of 3.9% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 26%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while Belgium amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+0.1%).

Source: IndexBox Platform