EU: Adipic Acid Market 2024

Adipic Acid Market Size in the EU

In 2022, the EU adipic acid market increased by 6.5% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of +3.0% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Adipic Acid Production in the EU

In value terms, adipic acid production rose remarkably to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.0% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when the production volume increased by 18%. Over the period under review, production hit record highs in 2022 and is expected to retain growth in the immediate term.

Adipic Acid Exports

Exports in the EU

After two years of growth, overseas shipments of adipic acid, its salts and esters decreased by -21.9% to X tons in 2022. Over the period under review, exports, however, showed prominent growth. The most prominent rate of growth was recorded in 2021 when exports increased by 475%. As a result, the exports reached the peak of X tons, and then contracted dramatically in the following year.

In value terms, adipic acid exports fell slightly to $X in 2022. In general, exports, however, recorded a prominent increase. The pace of growth was the most pronounced in 2021 with an increase of 490% against the previous year. As a result, the exports reached the peak of $X, and then declined in the following year.

Exports by Country

France was the largest exporter of adipic acid, its salts and esters in the European Union, with the volume of exports resulting at X tons, which was near 73% of total exports in 2022. Italy (X tons) ranks second in terms of the total exports with a 14% share, followed by Belgium (6.7%). The Netherlands (X tons) held a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to adipic acid exports from France stood at -21.2%. At the same time, Belgium (+12.7%) and Italy (+3.2%) displayed positive paces of growth. Moreover, Belgium emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +12.7% from 2012-2022. By contrast, the Netherlands (-19.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of France and Belgium increased by +73 and +2.1 percentage points, respectively.

In value terms, France ($X) remains the largest adipic acid supplier in the European Union, comprising 69% of total exports. The second position in the ranking was held by Italy ($X), with a 16% share of total exports. It was followed by Belgium, with a 6.9% share.

From 2012 to 2022, the average annual growth rate of value in France totaled +4.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Italy (+4.0% per year) and Belgium (+10.2% per year).

Export Prices by Country

The export price in the European Union stood at $X per ton in 2022, picking up by 25% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Italy ($X per ton) and Belgium ($X per ton), while France ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+32.9%), while the other leaders experienced more modest paces of growth.

Adipic Acid Imports

Imports in the EU

In 2022, adipic acid imports in the European Union contracted to X tons, shrinking by -8.7% compared with the previous year. The total import volume increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 35%. As a result, imports attained the peak of X tons, and then fell in the following year.

In value terms, adipic acid imports rose notably to $X in 2022. Total imports indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +3.6% 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 +115.6% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 97% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, Italy (X tons) and the Netherlands (X tons) represented the main importers of adipic acid, its salts and esters in the European Union, together constituting 59% of total imports. Germany (X tons) ranks next in terms of the total imports with a 12% share, followed by Spain (11%) and France (6.8%). Belgium (X tons) and Poland (X tons) held a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +9.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), the Netherlands ($X) and Germany ($X) were the countries with the highest levels of imports in 2022, with a combined 69% share of total imports. Spain, France, Belgium and Poland lagged somewhat behind, together accounting for a further 25%.

In terms of the main importing countries, Poland, with a CAGR of +11.7%, 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

In 2022, the import price in the European Union amounted to $X per ton, surging by 20% against the previous year. Import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, adipic acid import price increased by +74.4% against 2020 indices. The growth pace was the most rapid in 2021 an increase of 46%. Over the period under review, import prices reached the peak figure in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in France ($X per ton) and Belgium ($X per ton), while the Netherlands ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+2.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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