EU: Carboxylic Acid Market 2024

Carboxylic Acid Market Size in the EU

The EU carboxylic acid market surged to $X in 2021, with an increase of 17% against the previous year. The market value increased at an average annual rate of +4.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the near future.

Carboxylic Acid Production in the EU

In value terms, carboxylic acid production rose slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.0% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 15% against the previous year. Over the period under review, production reached the maximum level in 2021 and is likely to see gradual growth in the near future.

Carboxylic Acid Exports

Exports in the EU

After four years of growth, shipments abroad of carboxylic acid with alcohol, phenol, aldehyde or ketone functions decreased by -0.2% to X tons in 2021. The total export volume increased at an average annual rate of +3.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 with an increase of 14% against the previous year. As a result, the exports attained the peak of X tons, leveling off in the following year.

In value terms, carboxylic acid exports rose notably to $X in 2021. The total export value increased at an average annual rate of +1.6% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2018 when exports increased by 13% against the previous year. The level of export peaked in 2021 and is likely to see gradual growth in years to come.

Exports by Country

The Netherlands (X tons), France (X tons), Germany (X tons), Belgium (X tons), Spain (X tons) and Italy (X tons) represented roughly 89% of total exports in 2021. It was distantly followed by Poland (X tons), committing a 4.9% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +9.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest carboxylic acid supplying countries in the European Union were Italy ($X), Germany ($X) and the Netherlands ($X), together accounting for 58% of total exports. France, Belgium, Spain and Poland lagged somewhat behind, together comprising a further 31%.

Poland, with a CAGR of +8.2%, saw the highest rates of growth with regard to the value of exports, among 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

In 2021, the export price in the European Union amounted to $X per ton, with an increase of 11% against the previous year. Over the period under review, the export price, however, showed a perceptible decline. The most prominent rate of growth was recorded in 2018 when the export price increased by 11% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Italy ($X per ton), while France ($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 (+1.5%), while the other leaders experienced a decline in the export price figures.

Carboxylic Acid Imports

Imports in the EU

In 2021, imports of carboxylic acid with alcohol, phenol, aldehyde or ketone functions in the European Union rose markedly to X tons, increasing by 7.8% compared with 2020. The total import volume increased at an average annual rate of +2.7% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when imports increased by 13%. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, carboxylic acid imports rose significantly to $X in 2021. The total import value increased at an average annual rate of +2.8% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X tons), distantly followed by the Netherlands (X tons), Belgium (X tons), Spain (X tons), France (X tons) and Italy (X tons) were the largest importers of carboxylic acid with alcohol, phenol, aldehyde or ketone functions, together committing 85% of total imports. Poland (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +8.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest carboxylic acid importing markets in the European Union were Germany ($X), France ($X) and Italy ($X), with a combined 54% share of total imports.

Italy, with a CAGR of +4.4%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries 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, surging by 6.5% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 7.6%. As a result, import price attained the peak level of $X per ton; afterwards, it flattened through to 2021.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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