Estonia: Polycarboxylic Acid Market 2024

Polycarboxylic Acid Market Size in Estonia

In 2022, after three years of growth, there was decline in the Estonian polycarboxylic acid market, when its value decreased by -2.5% to $X. The market value increased at an average annual rate of +4.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Polycarboxylic acid consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Polycarboxylic Acid Production in Estonia

In value terms, polycarboxylic acid production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 23%. Over the period under review, production attained the peak level at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Polycarboxylic Acid Exports

Exports from Estonia

After two years of growth, overseas shipments of polycarboxylic acids decreased by -49.9% to X tons in 2022. Overall, exports faced a dramatic slump. The growth pace was the most rapid in 2017 when exports increased by 146%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, polycarboxylic acid exports contracted markedly to $X in 2022. Over the period under review, exports recorded a sharp reduction. The most prominent rate of growth was recorded in 2021 when exports increased by 158% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Sweden (X tons) was the main destination for polycarboxylic acid exports from Estonia, with a 85% share of total exports. Moreover, polycarboxylic acid exports to Sweden exceeded the volume sent to the second major destination, Russia (X kg), eightfold. The third position in this ranking was taken by Finland (X kg), with a 2.4% share.

From 2012 to 2022, the average annual growth rate of volume to Sweden stood at -1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (-13.5% per year) and Finland (-24.8% per year).

In value terms, Sweden ($X) emerged as the key foreign market for polycarboxylic acids exports from Estonia, comprising 65% of total exports. The second position in the ranking was held by Russia ($X), with a 29% share of total exports. It was followed by Finland, with a 2.1% share.

From 2012 to 2022, the average annual growth rate of value to Sweden amounted to -5.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (-3.1% per year) and Finland (-28.4% per year).

Export Prices by Country

The average polycarboxylic acid export price stood at $X per ton in 2022, with a decrease of -18.2% against the previous year. Over the period under review, the export price continues to indicate a deep setback. The pace of growth appeared the most rapid in 2019 when the average export price increased by 141%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Latvia ($X per ton), while the average price for exports to Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Latvia (+16.1%), while the prices for the other major destinations experienced mixed trend patterns.

Polycarboxylic Acid Imports

Imports into Estonia

After two years of growth, overseas purchases of polycarboxylic acids decreased by -17.6% to X tons in 2022. Over the period under review, imports, however, enjoyed a strong increase. The growth pace was the most rapid in 2017 with an increase of 48% against the previous year. Imports peaked at X tons in 2021, and then shrank rapidly in the following year.

In value terms, polycarboxylic acid imports reduced to $X in 2022. Overall, imports, however, continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2021 with an increase of 63%. As a result, imports reached the peak of $X, and then declined in the following year.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest polycarboxylic acid supplier to Estonia, accounting for a 58% share of total imports. Moreover, polycarboxylic acid imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Spain (X tons), fourfold. The third position in this ranking was taken by the United States (X tons), with a 9.8% share.

From 2012 to 2022, the average annual growth rate of volume from the Netherlands amounted to +69.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+0.8% per year) and the United States (+83.4% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of polycarboxylic acids to Estonia, comprising 44% of total imports. The second position in the ranking was held by Italy ($X), with a 20% share of total imports. It was followed by Spain, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the Netherlands amounted to +60.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+8.7% per year) and Spain (-0.6% per year).

Import Prices by Country

The average polycarboxylic acid import price stood at $X per ton in 2022, with an increase of 13% against the previous year. Over the period under review, the import price, however, continues to indicate a perceptible descent. The growth pace was the most rapid in 2021 an increase of 23% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belarus (+1.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform