Eastern Europe: Acetic Acid Market 2024

Acetic Acid Market Size in Eastern Europe

In 2021, after two years of decline, there was significant growth in the East European acetic acid market, when its value increased by 20% to $X. The market value increased at an average annual rate of +3.9% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Acetic Acid Production in Eastern Europe

In value terms, acetic acid production dropped slightly to $X in 2021 estimated in export price. In general, production showed a mild descent. The pace of growth appeared the most rapid in 2018 when the production volume increased by 27% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Acetic Acid Exports

Exports in Eastern Europe

In 2021, acetic acid exports in Eastern Europe declined sharply to X tons, which is down by -35.9% against 2020 figures. Overall, exports faced a abrupt descent. The pace of growth appeared the most rapid in 2017 when exports increased by 36%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, acetic acid exports rose rapidly to $X in 2021. Over the period under review, exports recorded a abrupt curtailment. The pace of growth was the most pronounced in 2017 with an increase of 33% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Russia was the main exporting country with an export of about X tons, which resulted at 72% of total exports. It was distantly followed by Poland (X tons), comprising a 21% share of total exports. Bulgaria (X tons) and Lithuania (X tons) took a minor share of total exports.

From 2012 to 2021, average annual rates of growth with regard to acetic acid exports from Russia stood at -11.8%. At the same time, Bulgaria (+42.1%), Lithuania (+3.2%) and Poland (+2.4%) displayed positive paces of growth. Moreover, Bulgaria emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +42.1% from 2012-2021. Russia (+34 p.p.), Poland (+18 p.p.) and Bulgaria (+4.3 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X), Russia ($X) and Bulgaria ($X) appeared to be the countries with the highest levels of exports in 2021, together accounting for 96% of total exports.

In terms of the main exporting countries, Bulgaria, with a CAGR of +46.0%, recorded the highest rates of growth with regard to 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 2021, the export price in Eastern Europe amounted to $X per ton, increasing by 79% against the previous year. Over the period under review, the export price recorded a remarkable increase. As a result, the export 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 exporting countries. In 2021, amid the top suppliers, the country with the highest price was Poland ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+15.1%), while the other leaders experienced more modest paces of growth.

Acetic Acid Imports

Imports in Eastern Europe

In 2021, overseas purchases of acetic acid were finally on the rise to reach X tons after two years of decline. The total import volume increased at an average annual rate of +1.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 with an increase of 14% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, acetic acid imports surged to $X in 2021. Total imports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Poland was the major importing country with an import of around X tons, which reached 60% of total imports. It was distantly followed by Ukraine (X tons), comprising a 20% share of total imports. The following importers - Russia (X tons), Romania (X tons), the Czech Republic (X tons), Bulgaria (X tons) and Hungary (X tons) - together made up 16% of total imports.

Imports into Poland increased at an average annual rate of +5.5% from 2012 to 2021. At the same time, Ukraine (+10.7%), Bulgaria (+5.6%) and the Czech Republic (+5.2%) displayed positive paces of growth. Moreover, Ukraine emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +10.7% from 2012-2021. Hungary experienced a relatively flat trend pattern. By contrast, Romania (-1.4%) and Russia (-19.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Poland and Ukraine increased by +19 and +11 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X) constitutes the largest market for imported acetic acid in Eastern Europe, comprising 58% of total imports. The second position in the ranking was taken by Ukraine ($X), with a 16% share of total imports. It was followed by Russia, with a 5.8% share.

From 2012 to 2021, the average annual growth rate of value in Poland amounted to +9.1%. The remaining importing countries recorded the following average annual rates of imports growth: Ukraine (+14.0% per year) and Russia (-11.4% per year).

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2021, jumping by 57% against the previous year. Import price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. 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 importing countries. In 2021, amid the top importers, the country with the highest price was Romania ($X per ton), while Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+10.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :