Czech Republic: Monocarboxylic Acid Market 2024

Monocarboxylic Acid Market Size in the Czech Republic

After two years of growth, the Czech monocarboxylic acid market decreased by -9.6% to $X in 2022. Overall, consumption continues to indicate a drastic downturn. Monocarboxylic acid consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Monocarboxylic Acid Production in the Czech Republic

In value terms, monocarboxylic acid production fell modestly to $X in 2022 estimated in export price. Overall, production, however, saw a noticeable setback. The pace of growth appeared the most rapid in 2017 with an increase of 23% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Monocarboxylic Acid Exports

Exports from the Czech Republic

Monocarboxylic acid exports from the Czech Republic rose markedly to X tons in 2022, surging by 8.2% compared with 2021. The total export volume increased at an average annual rate of +2.4% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2019 with an increase of 17% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, monocarboxylic acid exports skyrocketed to $X in 2022. Over the period under review, total exports indicated a perceptible increase from 2012 to 2022: its value 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 +98.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 50%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Germany (X tons), Italy (X tons) and Belgium (X tons) were the main destinations of monocarboxylic acid exports from the Czech Republic, with a combined 64% share of total exports. The Netherlands, France, Austria, Spain and the UK lagged somewhat behind, together accounting for a further 34%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Austria (with a CAGR of +33.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for monocarboxylic acid exported from the Czech Republic were Germany ($X), Italy ($X) and Belgium ($X), together comprising 63% of total exports. The Netherlands, Austria, France, Spain and the UK lagged somewhat behind, together comprising a further 34%.

Austria, with a CAGR of +30.1%, recorded the highest growth rate of 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

In 2022, the average monocarboxylic acid export price amounted to $X per ton, picking up by 22% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average export price increased by 59%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the Netherlands ($X per ton) and Spain ($X per ton), while the average price for exports to the UK ($X per ton) and France ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+0.2%), while the prices for the other major destinations experienced more modest paces of growth.

Monocarboxylic Acid Imports

Imports into the Czech Republic

In 2022, monocarboxylic acid imports into the Czech Republic declined to X tons, falling by -2.1% compared with the previous year. Over the period under review, imports recorded a perceptible shrinkage. The growth pace was the most rapid in 2014 when imports increased by 16% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, monocarboxylic acid imports shrank to $X in 2022. Overall, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 32%. As a result, imports attained the peak of $X, and then fell in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of monocarboxylic acid to the Czech Republic, with a 61% share of total imports. Moreover, monocarboxylic acid imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), fivefold. The third position in this ranking was taken by the Netherlands (X tons), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled -1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-7.0% per year) and the Netherlands (+6.3% per year).

In value terms, China ($X) constituted the largest supplier of acrylic acid and its salts and other monocarboxylic acid to the Czech Republic, comprising 56% of total imports. The second position in the ranking was taken by Germany ($X), with a 9.1% share of total imports. It was followed by France, with a 7.7% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-6.5% per year) and France (-9.0% per year).

Import Prices by Country

In 2022, the average monocarboxylic acid import price amounted to $X per ton, with a decrease of -6.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The pace of growth appeared the most rapid in 2019 when the average import price increased by 17%. The import price peaked at $X per ton in 2021, and then shrank in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+11.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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