EU: Acetic Acid Market 2024

Acetic Acid Market Size in the EU

In 2021, the EU acetic acid market was finally on the rise to reach $X after two years of decline. The total consumption indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Acetic Acid Production in the EU

In value terms, acetic acid production contracted modestly to $X in 2021 estimated in export price. The total production indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +72.6% against 2012 indices. The pace of growth was the most pronounced in 2014 with an increase of 25%. Over the period under review, production reached the peak level at $X in 2020, and then reduced modestly in the following year.

Acetic Acid Exports

Exports in the EU

Acetic acid exports reduced dramatically to X tons in 2021, declining by -16.3% compared with the previous year's figure. Over the period under review, exports continue to indicate a pronounced contraction. The growth pace was the most rapid in 2020 when exports increased by 382% against the previous year. The volume of export peaked at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, acetic acid exports surged to $X in 2021. Overall, exports, however, posted a notable increase. The most prominent rate of growth was recorded in 2020 with an increase of 244%. Over the period under review, the exports attained the peak figure in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

Belgium dominates exports structure, finishing at X tons, which was approx. 84% of total exports in 2021. It was distantly followed by the Netherlands (X tons), comprising a 4.7% share of total exports. The following exporters - Germany (X tons) and Spain (X tons) - each accounted for a 6.4% share of total exports.

Exports from Belgium decreased at an average annual rate of -2.9% from 2012 to 2021. At the same time, the Netherlands (+9.2%) and Germany (+5.3%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +9.2% from 2012-2021. By contrast, Spain (-1.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the Netherlands and Germany increased by +3 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Belgium ($X) remains the largest acetic acid supplier in the European Union, comprising 78% of total exports. The second position in the ranking was taken by Germany ($X), with a 5.8% share of total exports. It was followed by the Netherlands, with a 4.7% share.

In Belgium, acetic acid exports increased at an average annual rate of +1.0% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Germany (+8.6% per year) and the Netherlands (+13.5% per year).

Export Prices by Country

In 2021, the export price in the European Union amounted to $X per ton, rising by 74% against the previous year. Export price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($X per ton), while Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+6.0%), while the other leaders experienced more modest paces of growth.

Acetic Acid Imports

Imports in the EU

In 2021, approx. X tons of acetic acid were imported in the European Union; picking up by 3.4% against 2020 figures. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when imports increased by 30% against the previous year. The volume of import peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, acetic acid imports skyrocketed to $X in 2021. Overall, imports continue to indicate notable growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Belgium was the largest importer of acetic acid in the European Union, with the volume of imports finishing at X tons, which was near 50% of total imports in 2021. It was distantly followed by Germany (X tons), the Netherlands (X tons) and Spain (X tons), together creating a 36% share of total imports. Poland (X tons), Italy (X tons) and Portugal (X tons) held a relatively small share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Portugal (with a CAGR of +36.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest acetic acid importing markets in the European Union were Belgium ($X), Germany ($X) and the Netherlands ($X), with a combined 74% share of total imports. Spain, Poland, Italy and Portugal lagged somewhat behind, together accounting for a further 16%.

Among the main importing countries, Portugal, with a CAGR of +40.5%, saw 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

In 2021, the import price in the European Union amounted to $X per ton, rising by 50% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.1%. As a result, import 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 importing countries. In 2021, amid the top importers, the country with the highest price was Portugal ($X per ton), while Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+7.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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