EU: Monocarboxylic Acid Market 2024

Monocarboxylic Acid Market Size in the EU

The EU monocarboxylic acid market fell remarkably to $X in 2022, waning by -23.2% against the previous year. Over the period under review, consumption, however, continues to indicate a noticeable shrinkage. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Monocarboxylic Acid Production in the EU

In value terms, monocarboxylic acid production totaled $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a slight setback. The most prominent rate of growth was recorded in 2018 when the production volume increased by 25% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Monocarboxylic Acid Exports

Exports in the EU

After three years of growth, overseas shipments of acrylic acid and its salts and other monocarboxylic acid decreased by -13.9% to X tons in 2022. Overall, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 20%. As a result, the exports attained the peak of X tons, and then dropped in the following year.

In value terms, monocarboxylic acid exports dropped to $X in 2022. Total exports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +2.4% 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 +101.4% against 2016 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 54%. As a result, the exports attained the peak of $X, and then dropped in the following year.

Exports by Country

Belgium (X tons) and Germany (X tons) prevails in exports structure, together making up 76% of total exports. The Netherlands (X tons) took the next position in the ranking, followed by the Czech Republic (X tons) and France (X tons). All these countries together took approx. 21% share of total exports.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +30.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Belgium ($X) and France ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 78% share of total exports.

France, with a CAGR of +18.2%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the European Union stood at $X per ton in 2022, surging by 6.1% against the previous year. Export price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, monocarboxylic acid export price increased by +91.5% against 2016 indices. The most prominent rate of growth was recorded in 2021 when the export price increased by 28% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.0%), while the other leaders experienced mixed trends in the export price figures.

Monocarboxylic Acid Imports

Imports in the EU

In 2022, approx. X tons of acrylic acid and its salts and other monocarboxylic acid were imported in the European Union; reducing by -9.7% against the previous year. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 50%. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, monocarboxylic acid imports dropped slightly to $X in 2022. Total imports indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +3.3% against 2018 indices. The growth pace was the most rapid in 2021 when imports increased by 35% against the previous year. As a result, imports reached the peak of $X, and then fell modestly in the following year.

Imports by Country

Germany (X tons) and the Netherlands (X tons) represented roughly 47% of total imports in 2022. It was distantly followed by France (X tons), Belgium (X tons), Italy (X tons) and Spain (X tons), together constituting a 44% share of total imports. Austria (X tons) took a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Austria (with a CAGR of +8.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest monocarboxylic acid importing markets in the European Union were the Netherlands ($X), Germany ($X) and France ($X), together comprising 55% of total imports. Spain, Italy, Belgium and Austria lagged somewhat behind, together comprising a further 34%.

Among the main importing countries, Austria, with a CAGR of +5.3%, recorded the highest rates of growth with regard to 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 the European Union stood at $X per ton in 2022, with an increase of 5.9% against the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by 23% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+2.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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