Denmark: Carboxylic Acid Market 2024

Carboxylic Acid Market Size in Denmark

In 2021, the Danish carboxylic acid market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption, however, showed a pronounced decrease. Carboxylic acid consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Carboxylic Acid Production in Denmark

In value terms, carboxylic acid production surged to $X in 2021 estimated in export price. In general, production enjoyed a resilient increase. The pace of growth appeared the most rapid in 2015 when the production volume increased by 183% against the previous year. Carboxylic acid production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Carboxylic Acid Exports

Exports from Denmark

Carboxylic acid exports from Denmark totaled X tons in 2021, growing by 13% compared with the year before. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when exports increased by 36% against the previous year. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, carboxylic acid exports soared to $X in 2021. In general, exports, however, showed a noticeable reduction. The most prominent rate of growth was recorded in 2018 with an increase of 44% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Germany (X tons) was the main destination for carboxylic acid exports from Denmark, accounting for a 26% share of total exports. Moreover, carboxylic acid exports to Germany exceeded the volume sent to the second major destination, Norway (X tons), twofold. France (X tons) ranked third in terms of total exports with an 8.6% share.

From 2012 to 2021, the average annual growth rate of volume to Germany amounted to -3.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (+11.1% per year) and France (+28.6% per year).

In value terms, Germany ($X) remains the key foreign market for carboxylic acid with alcohol, phenol, aldehyde or ketone functions exports from Denmark, comprising 20% of total exports. The second position in the ranking was taken by Sweden ($X), with an 8.1% share of total exports. It was followed by Norway, with a 7.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany amounted to -4.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (-5.1% per year) and Norway (-2.0% per year).

Export Prices by Country

In 2021, the average carboxylic acid export price amounted to $X per ton, surging by 2.4% against the previous year. Over the period under review, the export price, however, recorded a pronounced shrinkage. The pace of growth appeared the most rapid in 2016 when the average export price increased by 23% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was China ($X per ton), while the average price for exports to Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+6.2%), while the prices for the other major destinations experienced more modest paces of growth.

Carboxylic Acid Imports

Imports into Denmark

In 2021, purchases abroad of carboxylic acid with alcohol, phenol, aldehyde or ketone functions was finally on the rise to reach X tons after two years of decline. In general, imports, however, continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2017 when imports increased by 37% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, carboxylic acid imports surged to $X in 2021. Overall, imports, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 45% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, France (X tons) constituted the largest supplier of carboxylic acid to Denmark, with a 51% share of total imports. Moreover, carboxylic acid imports from France exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The Netherlands (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from France stood at -2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-12.1% per year) and the Netherlands (+3.0% per year).

In value terms, the largest carboxylic acid suppliers to Denmark were China ($X), Germany ($X) and the Netherlands ($X), with a combined 62% share of total imports.

The Netherlands, with a CAGR of +6.1%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average carboxylic acid import price stood at $X per ton in 2021, jumping by 28% against the previous year. In general, import price indicated pronounced growth from 2012 to 2021: its price increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, carboxylic acid import price increased by +86.7% against 2017 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was China ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+29.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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