Eastern Europe: Adipic Acid Market 2024

Adipic Acid Market Size in Eastern Europe

In 2022, the East European adipic acid market decreased by -3.6% to $X, falling for the fourth year in a row after five years of growth. The total consumption indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -18.8% against 2018 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Adipic Acid Production in Eastern Europe

In value terms, adipic acid production declined modestly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the production volume increased by 14%. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Adipic Acid Exports

Exports in Eastern Europe

In 2022, overseas shipments of adipic acid, its salts and esters increased by 49% to X tons, rising for the second consecutive year after two years of decline. Overall, exports, however, saw a deep downturn. The growth pace was the most rapid in 2018 when exports increased by 76%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, adipic acid exports soared to $X in 2022. In general, exports, however, showed a deep downturn. The pace of growth appeared the most rapid in 2018 when exports increased by 94%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Poland prevails in exports structure, recording X tons, which was approx. 91% of total exports in 2022. It was distantly followed by Lithuania (X tons), constituting a 7.1% share of total exports.

Exports from Poland increased at an average annual rate of +11.1% from 2012 to 2022. At the same time, Lithuania (+73.5%) displayed positive paces of growth. Moreover, Lithuania emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +73.5% from 2012-2022. Poland (+87 p.p.) and Lithuania (+7.1 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 ($X) remains the largest adipic acid supplier in Eastern Europe, comprising 95% of total exports. The second position in the ranking was taken by Lithuania ($X), with a 4.6% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Poland stood at +13.2%.

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per ton, picking up by 13% against the previous year. Export price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, adipic acid export price increased by +65.7% against 2020 indices. The pace of growth was the most pronounced in 2021 when the export price increased by 46%. Over the period under review, the export prices reached the maximum in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Poland ($X per ton), while Lithuania amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+2.0%).

Adipic Acid Imports

Imports in Eastern Europe

In 2022, approx. X tons of adipic acid, its salts and esters were imported in Eastern Europe; increasing by 7.6% on 2021. Overall, imports posted a strong increase. The pace of growth appeared the most rapid in 2017 with an increase of 28% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, adipic acid imports expanded notably to $X in 2022. In general, imports saw a resilient increase. The pace of growth was the most pronounced in 2021 with an increase of 84% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Poland (X tons) was the main importer of adipic acid, its salts and esters, creating 48% of total imports. Russia (X tons) held a 29% share (based on physical terms) of total imports, which put it in second place, followed by Lithuania (7.8%) and Hungary (7.1%). The Czech Republic (X tons), Romania (X tons) and Ukraine (X tons) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Lithuania (with a CAGR of +37.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X) constitutes the largest market for imported adipic acid, its salts and esters in Eastern Europe, comprising 53% of total imports. The second position in the ranking was taken by Russia ($X), with a 21% share of total imports. It was followed by Hungary, with a 9% share.

In Poland, adipic acid imports increased at an average annual rate of +11.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Russia (+5.2% per year) and Hungary (+20.9% per year).

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2022, with an increase of 5.9% against the previous year. Overall, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 66%. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Czech Republic ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+4.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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