Benelux: Salicylic Acid Market 2024

Salicylic Acid Market Size in Benelux

The Benelux salicylic acid market soared to $X in 2021, with an increase of 30% against the previous year. Overall, consumption enjoyed strong growth. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Salicylic Acid Production in Benelux

In value terms, salicylic acid production soared to $X in 2021 estimated in export price. In general, production showed a significant increase. The most prominent rate of growth was recorded in 2017 when the production volume increased by 23,193% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Salicylic Acid Exports

Exports in Benelux

For the third consecutive year, Benelux recorded growth in shipments abroad of salicylic acid and its salts, which increased by 32% to X tons in 2021. In general, exports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2017 with an increase of 399% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, salicylic acid exports soared to $X in 2021. Over the period under review, exports continue to indicate prominent growth. The pace of growth was the most pronounced in 2017 with an increase of 141% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

Exports by Country

The Netherlands represented the main exporter of salicylic acid and its salts in Benelux, with the volume of exports resulting at X tons, which was approx. 69% of total exports in 2021. It was distantly followed by Belgium (X tons), creating a 31% share of total exports.

The Netherlands was also the fastest-growing in terms of the salicylic acid and its salts exports, with a CAGR of +12.3% from 2012 to 2021. At the same time, Belgium (+3.4%) displayed positive paces of growth. The Netherlands (+18 p.p.) significantly strengthened its position in terms of the total exports, while Belgium saw its share reduced by -17.6% from 2012 to 2021, respectively.

In value terms, the Netherlands ($X) and Belgium ($X) were the countries with the highest levels of exports in 2021.

The Netherlands, with a CAGR of +13.1%, recorded the highest rates of growth with regard to 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 2021, remaining stable against the previous year. Export price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +3.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, salicylic acid export price decreased by -7.6% against 2019 indices. The most prominent rate of growth was recorded in 2018 an increase of 166%. The level of export peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the Netherlands stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+7.0%).

Salicylic Acid Imports

Imports in Benelux

In 2021, imports of salicylic acid and its salts in Benelux fell modestly to X tons, waning by -1.8% against 2020 figures. Overall, imports, however, saw resilient growth. The pace of growth appeared the most rapid in 2020 when imports increased by 445% against the previous year. As a result, imports attained the peak of X tons, and then declined in the following year.

In value terms, salicylic acid imports fell to $X in 2021. In general, imports, however, saw a strong increase. The pace of growth was the most pronounced in 2020 when imports increased by 292% against the previous year. As a result, imports attained the peak of $X, and then shrank in the following year.

Imports by Country

In 2021, the Netherlands (X tons) represented the largest importer of salicylic acid and its salts, constituting 71% of total imports. It was distantly followed by Belgium (X tons), constituting a 29% share of total imports.

The Netherlands was also the fastest-growing in terms of the salicylic acid and its salts imports, with a CAGR of +7.2% from 2012 to 2021. At the same time, Belgium (+2.5%) displayed positive paces of growth. While the share of the Netherlands (+8.8 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Belgium (-8.8 p.p.) displayed negative dynamics.

In value terms, the Netherlands ($X) constitutes the largest market for imported salicylic acid and its salts in Benelux, comprising 70% of total imports. The second position in the ranking was held by Belgium ($X), with a 30% share of total imports.

In the Netherlands, salicylic acid imports increased at an average annual rate of +8.8% over the period from 2012-2021.

Import Prices by Country

In 2021, the import price in Benelux amounted to $X per ton, leveling off at the previous year. Import price indicated a slight expansion from 2012 to 2021: its price increased at an average annual rate of +1.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, salicylic acid import price decreased by -28.2% against 2019 indices. The pace of growth was the most pronounced in 2019 when the import price increased by 45%. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Belgium ($X per ton), while the Netherlands stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+2.0%).

Source: IndexBox Platform