Eastern Europe: O-Acetylsalicylic Acid Market 2024

O-Acetylsalicylic Acid Market Size in Eastern Europe

The East European o-acetylsalicylic acid market rose modestly to $X in 2021, increasing by 4.5% against the previous year. The market value increased at an average annual rate of +4.0% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

O-Acetylsalicylic Acid Production in Eastern Europe

In value terms, o-acetylsalicylic acid production contracted slightly to $X in 2021 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the production volume increased by 9.2%. The level of production peaked at $X in 2020, and then dropped slightly in the following year.

O-Acetylsalicylic Acid Exports

Exports in Eastern Europe

In 2021, approx. X tons of o-acetylsalicylic acid, its salts and esters were exported in Eastern Europe; increasing by 9.2% compared with the year before. Over the period under review, exports showed a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 148% against the previous year. The volume of export peaked in 2021 and is likely to see gradual growth in years to come.

In value terms, o-acetylsalicylic acid exports contracted to $X in 2021. In general, exports saw a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 190% against the previous year. The level of export peaked at $X in 2020, and then shrank in the following year.

Exports by Country

Poland was the major exporter of o-acetylsalicylic acid, its salts and esters in Eastern Europe, with the volume of exports reaching X tons, which was approx. 62% of total exports in 2021. Russia (X tons) held a 30% share (based on physical terms) of total exports, which put it in second place, followed by Bulgaria (7.2%).

From 2012 to 2021, average annual rates of growth with regard to o-acetylsalicylic acid exports from Poland stood at +26.0%. At the same time, Russia (+75.2%) and Bulgaria (+1.5%) displayed positive paces of growth. Moreover, Russia emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +75.2% from 2012-2021. From 2012 to 2021, the share of Russia and Poland increased by +28 and +15 percentage points, respectively.

In value terms, Poland ($X) remains the largest o-acetylsalicylic acid supplier in Eastern Europe, comprising 71% of total exports. The second position in the ranking was held by Russia ($X), with an 18% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Poland stood at +27.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Russia (+61.1% per year) and Bulgaria (+6.0% per year).

Export Prices by Country

In 2021, the export price in Eastern Europe amounted to $X per ton, shrinking by -11.8% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the export price increased by 63% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2021, the export prices remained at a lower figure.

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 Bulgaria ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bulgaria (+4.4%), while the other leaders experienced mixed trends in the export price figures.

O-Acetylsalicylic Acid Imports

Imports in Eastern Europe

In 2021, imports of o-acetylsalicylic acid, its salts and esters in Eastern Europe totaled X tons, with an increase of 7.1% against the year before. The total import volume increased at an average annual rate of +3.3% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2013 with an increase of 34% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, o-acetylsalicylic acid imports rose modestly to $X in 2021. The total import value increased at an average annual rate of +4.8% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when imports increased by 29%. The level of import peaked at $X in 2018; afterwards, it flattened through to 2021.

Imports by Country

In 2021, Russia (X tons) was the key importer of o-acetylsalicylic acid, its salts and esters, constituting 54% of total imports. Ukraine (X tons) ranks second in terms of the total imports with a 14% share, followed by Belarus (11%), Poland (8.1%) and Romania (5.5%). Bulgaria (X tons) followed a long way behind the leaders.

Imports into Russia increased at an average annual rate of +4.6% from 2012 to 2021. At the same time, Bulgaria (+9.3%), Belarus (+5.0%) and Ukraine (+1.7%) displayed positive paces of growth. Moreover, Bulgaria emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +9.3% from 2012-2021. Romania and Poland experienced a relatively flat trend pattern. From 2012 to 2021, the share of Russia and Bulgaria increased by +5.8 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported o-acetylsalicylic acid, its salts and esters in Eastern Europe, comprising 44% of total imports. The second position in the ranking was taken by Ukraine ($X), with a 21% share of total imports. It was followed by Poland, with a 9.8% share.

In Russia, o-acetylsalicylic acid imports increased at an average annual rate of +7.2% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Ukraine (+4.2% per year) and Poland (+1.0% per year).

Import Prices by Country

In 2021, the import price in Eastern Europe amounted to $X per ton, which is down by -2.7% against the previous year. Over the last nine years, it increased at an average annual rate of +1.4%. The pace of growth appeared the most rapid in 2019 when the import price increased by 8.8%. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ukraine (+2.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :