Eastern Europe: Phenylacetic Acid Market 2024

Phenylacetic Acid Market Size in Eastern Europe

The East European phenylacetic acid market stood at $X in 2022, with an increase of X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Phenylacetic Acid Production in Eastern Europe

In value terms, phenylacetic acid production rose modestly to $X in 2022 estimated in export price. The total production indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2018 with an increase of X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Phenylacetic Acid Exports

Exports in Eastern Europe

After two years of growth, overseas shipments of phenylacetic acid, its salts and esters decreased by X% to X tons in 2022. Over the period under review, exports recorded a mild decline. The pace of growth was the most pronounced in 2016 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2021, and then plummeted in the following year.

In value terms, phenylacetic acid exports soared to $X in 2022. Total exports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2017 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Poland prevails in exports structure, reaching X tons, which was approx. X% of total exports in 2022. Ukraine (X tons) took the second position in the ranking, followed by Hungary (X tons). All these countries together took near X% share of total exports. The following exporters - Romania (X tons), Russia (X tons), Lithuania (X tons) and the Czech Republic (X tons) - together made up X% of total exports.

Poland experienced a relatively flat trend pattern with regard to volume of exports of phenylacetic acid, its salts and esters. At the same time, Russia (X%), Lithuania (X%), Hungary (X%) and the Czech Republic (X%) displayed positive paces of growth. Moreover, Russia emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of X% from 2012-2022. By contrast, Romania (X%) and Ukraine (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Hungary, Russia, Poland and Lithuania increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest phenylacetic acid supplying countries in Eastern Europe were Poland ($X), Hungary ($X) and the Czech Republic ($X), with a combined X% share of total exports. Ukraine, Romania, Russia and Lithuania lagged somewhat behind, together accounting for a further X%.

In terms of the main exporting countries, Russia, with a CAGR of X%, saw 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 2022, the export price in Eastern Europe amounted to $X per ton, surging by X% against the previous year. Export price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, phenylacetic acid export price increased by X% against 2016 indices. 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 2022, amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while Ukraine ($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 (X%), while the other leaders experienced more modest paces of growth.

Phenylacetic Acid Imports

Imports in Eastern Europe

In 2022, approx. X tons of phenylacetic acid, its salts and esters were imported in Eastern Europe; with an increase of X% against 2021. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when imports increased by X%. The volume of import peaked at X tons in 2018; afterwards, it flattened through to 2022.

In value terms, phenylacetic acid imports stood at $X in 2022. Total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, imports hit record highs at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Russia (X tons) was the largest importer of phenylacetic acid, its salts and esters, committing X% of total imports. Poland (X tons) held an X% share (based on physical terms) of total imports, which put it in second place, followed by Hungary (X%), the Czech Republic (X%) and Belarus (X%). Bulgaria (X tons) held a little share of total imports.

Imports into Russia increased at an average annual rate of X% from 2012 to 2022. At the same time, Belarus (X%) and Poland (X%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of X% from 2012-2022. The Czech Republic experienced a relatively flat trend pattern. By contrast, Hungary (X%) and Bulgaria (X%) illustrated a downward trend over the same period. While the share of Russia (X p.p.) and Belarus (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Bulgaria (X p.p.), the Czech Republic (X p.p.), Poland (X p.p.) and Hungary (X p.p.) displayed negative dynamics.

In value terms, the largest phenylacetic acid importing markets in Eastern Europe were Russia ($X), Hungary ($X) and Poland ($X), with a combined X% share of total imports. The Czech Republic, Belarus and Bulgaria lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Belarus, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2022, waning by X% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the import prices remained at a somewhat lower figure.

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

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

Source: IndexBox Platform

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