Benelux: Phenylacetic Acid Market 2024

Phenylacetic Acid Market Size in Benelux

For the third consecutive year, the Benelux phenylacetic acid market recorded decline in sales value, which decreased by X% to $X in 2022. Over the period under review, consumption, however, enjoyed a perceptible expansion. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Phenylacetic Acid Production in Benelux

In value terms, phenylacetic acid production contracted sharply to $X in 2022 estimated in export price. In general, production continues to indicate a perceptible slump. The most prominent rate of growth was recorded in 2021 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Phenylacetic Acid Exports

Exports in Benelux

In 2022, after two years of growth, there was decline in shipments abroad of phenylacetic acid, its salts and esters, when their volume decreased by X% to X tons. Over the period under review, exports recorded a perceptible descent. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, phenylacetic acid exports skyrocketed to $X in 2022. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when exports increased by X%. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Exports by Country

Belgium represented the key exporting country with an export of about X tons, which resulted at X% of total exports. It was distantly followed by the Netherlands (X tons), making up a X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by the Netherlands (with a CAGR of X%).

In value terms, the largest phenylacetic acid supplying countries in Benelux were Belgium ($X) and the Netherlands ($X).

The Netherlands, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

The export price in Benelux stood at $X per ton in 2022, rising by X% against the previous year. Export price indicated a noticeable 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. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat 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 totaled $X per ton.

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

Phenylacetic Acid Imports

Imports in Benelux

In 2022, approx. X tons of phenylacetic acid, its salts and esters were imported in Benelux; falling by X% against the year before. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, phenylacetic acid imports reduced to $X in 2022. Overall, imports, however, posted a strong increase. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Belgium (X tons) was the main importer of phenylacetic acid, its salts and esters, mixing up X% of total imports. It was distantly followed by the Netherlands (X tons), mixing up an X% share of total imports.

Belgium was also the fastest-growing in terms of the phenylacetic acid, its salts and esters imports, with a CAGR of X% from 2012 to 2022. The Netherlands (X%) illustrated a downward trend over the same period. While the share of Belgium (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the Netherlands (X p.p.) displayed negative dynamics.

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

From 2012 to 2022, the average annual rate of growth in terms of value in Belgium amounted to X%.

Import Prices by Country

In 2022, the import price in Benelux amounted to $X per ton, increasing by X% against the previous year. Import price indicated buoyant growth 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 import price increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the near future.

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

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

Source: IndexBox Platform