Eastern Europe: Salicylic Acid Market 2024

Salicylic Acid Market Size in Eastern Europe

The East European salicylic acid market shrank to $X in 2021, which is down by -7.1% against the previous year. Over the period under review, consumption, however, showed measured growth. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Salicylic Acid Production in Eastern Europe

In value terms, salicylic acid production fell to $X in 2021 estimated in export price. The total production indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +28.1% against 2018 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by 51% against the previous year. Over the period under review, production reached the maximum level at $X in 2020, and then contracted in the following year.

Salicylic Acid Exports

Exports in Eastern Europe

In 2021, shipments abroad of salicylic acid and its salts increased by 60% to X tons, rising for the second year in a row after three years of decline. In general, exports, however, continue to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2014 when exports increased by 67%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, salicylic acid exports soared to $X in 2021. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when exports increased by 89%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Poland dominates exports structure, accounting for X tons, which was near 91% of total exports in 2021. It was distantly followed by Russia (X tons), creating a 4.6% share of total exports. The Czech Republic (X tons) followed a long way behind the leaders.

Poland was also the fastest-growing in terms of the salicylic acid and its salts exports, with a CAGR of +25.6% from 2012 to 2021. At the same time, Russia (+19.6%) displayed positive paces of growth. By contrast, the Czech Republic (-12.0%) illustrated a downward trend over the same period. Poland (+86 p.p.) and Russia (+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 ($X) remains the largest salicylic acid supplier in Eastern Europe, comprising 88% of total exports. The second position in the ranking was held by Russia ($X), with a 6.2% share of total exports.

In Poland, salicylic acid exports increased at an average annual rate of +24.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Russia (+27.6% per year) and the Czech Republic (-5.1% per year).

Export Prices by Country

In 2021, the export price in Eastern Europe amounted to $X per ton, with a decrease of -3% against the previous year. In general, the export price, however, continues to indicate a remarkable increase. The growth pace was the most rapid in 2019 when the export price increased by 53%. The level of export peaked at $X per ton in 2020, and then contracted in the following year.

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 the Czech Republic ($X per ton), while Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+7.8%), while the other leaders experienced mixed trends in the export price figures.

Salicylic Acid Imports

Imports in Eastern Europe

Salicylic acid imports fell to X tons in 2021, waning by -8.6% on the previous year's figure. Overall, imports showed a noticeable contraction. The pace of growth was the most pronounced in 2014 when imports increased by 59% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, salicylic acid imports reached $X in 2021. Total imports indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -27.5% against 2018 indices. The most prominent rate of growth was recorded in 2014 with an increase of 99% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Poland (X tons) was the largest importer of salicylic acid and its salts, achieving 47% of total imports. Russia (X tons) held the second position in the ranking, distantly followed by Romania (X tons), the Czech Republic (X tons) and Lithuania (X tons). All these countries together held approx. 45% share of total imports. Hungary (X tons) and Ukraine (X tons) took a minor share of total imports.

From 2012 to 2021, the biggest increases were recorded for Lithuania (with a CAGR of +24.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X) constitutes the largest market for imported salicylic acid and its salts in Eastern Europe, comprising 47% of total imports. The second position in the ranking was taken by Russia ($X), with a 23% share of total imports. It was followed by Romania, with a 13% share.

In Poland, salicylic acid imports expanded at an average annual rate of +6.7% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Russia (+5.0% per year) and Romania (-4.5% per year).

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2021, picking up by 9.9% against the previous year. Import price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, salicylic acid import price increased by +70.4% against 2016 indices. The pace of growth appeared the most rapid in 2014 an increase of 25% against the previous year. Over the period under review, import prices attained the peak figure in 2021 and is likely to see steady growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+12.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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