China: Phenylacetic Acid Market 2024

Phenylacetic Acid Market Size in China

The Chinese phenylacetic acid market totaled $X in 2022, standing approx. at the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Phenylacetic Acid Production in China

In value terms, phenylacetic acid production declined modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Phenylacetic acid production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Phenylacetic Acid Exports

Exports from China

In 2022, shipments abroad of phenylacetic acid, its salts and esters decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the exports reached the maximum at X tons in 2021, and then fell in the following year.

In value terms, phenylacetic acid exports expanded modestly to $X in 2022. In general, total exports indicated a noticeable increase from 2012 to 2022: its value 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, exports decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2018 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

India (X tons), the United States (X tons) and South Korea (X tons) were the main destinations of phenylacetic acid exports from China, together comprising X% of total exports. Japan, Italy, Germany, the Netherlands, Taiwan (Chinese), Brazil, Russia, Mexico and the UK lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, India ($X), the United States ($X) and Italy ($X) constituted the largest markets for phenylacetic acid exported from China worldwide, together comprising X% of total exports. South Korea, Japan, Germany, the Netherlands, Brazil, Russia, Mexico, Taiwan (Chinese) and the UK lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, Russia, with a CAGR of X%, saw the highest growth rate of 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, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2016 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 the UK (X%), while the prices for the other major destinations experienced more modest paces of growth.

Phenylacetic Acid Imports

Imports into China

In 2022, approx. X tons of phenylacetic acid, its salts and esters were imported into China; rising by X% compared with 2021 figures. Over the period under review, imports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, phenylacetic acid imports soared to $X in 2022. In general, imports enjoyed a strong increase. The pace of growth was the most pronounced in 2015 when imports increased by X%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, India (X tons) constituted the largest supplier of phenylacetic acid to China, with a X% share of total imports. Moreover, phenylacetic acid imports from India exceeded the figures recorded by the second-largest supplier, Japan (X tons), fourfold. Poland (X tons) ranked third in terms of total imports with an X% share.

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

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

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

Import Prices by Country

The average phenylacetic acid import price stood at $X per ton in 2022, dropping by X% against the previous year. Over the period under review, the import price continues to indicate a slight descent. The pace of growth appeared the most rapid in 2013 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :