EU: Phenylacetic Acid Market 2024

Phenylacetic Acid Market Size in the EU

In 2022, the EU phenylacetic acid market was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. Over the period under review, consumption continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Phenylacetic Acid Production in the EU

In value terms, phenylacetic acid production rose slightly to $X in 2022 estimated in export price. Overall, production showed a modest expansion. The growth pace was the most rapid in 2013 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Phenylacetic Acid Exports

Exports in the EU

In 2022, overseas shipments of phenylacetic acid, its salts and esters increased by X% to X tons, rising for the third year in a row after five years of decline. In general, exports, however, recorded a pronounced reduction. The pace of growth was the most pronounced in 2020 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, phenylacetic acid exports surged to $X in 2022. Total exports indicated mild growth from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Germany represented the major exporting country with an export of around X tons, which recorded X% of total exports. Belgium (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by the Netherlands (X%), Italy (X%) and Poland (X%). Spain (X tons) and France (X tons) took a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to phenylacetic acid exports from Germany stood at X%. At the same time, Spain (X%), Italy (X%), the Netherlands (X%) and France (X%) displayed positive paces of growth. Moreover, Spain emerged as the fastest-growing exporter exported in the European Union, with a CAGR of X% from 2012-2022. Poland experienced a relatively flat trend pattern. By contrast, Belgium (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the Netherlands, Italy, Spain and Germany increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In Germany, phenylacetic acid exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Belgium (X% per year) and France (X% per year).

Export Prices by Country

The export price in the European Union stood at $X per ton in 2022, growing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. 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 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 France (X%), while the other leaders experienced more modest paces of growth.

Phenylacetic Acid Imports

Imports in the EU

In 2022, approx. X tons of phenylacetic acid, its salts and esters were imported in the European Union; almost unchanged from the previous year's figure. In general, imports, however, recorded a perceptible setback. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, phenylacetic acid imports reached $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Italy (X tons) and Germany (X tons) were the main importers of phenylacetic acid, its salts and esters in the European Union, together resulting at approx. X% of total imports. Belgium (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Spain (X%) and France (X%). The following importers - the Netherlands (X tons) and Greece (X tons) - each finished at a X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Greece (with a CAGR of X%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest phenylacetic acid importing markets in the European Union were Italy ($X), Germany ($X) and Belgium ($X), together accounting for X% of total imports.

In terms of the main importing countries, Belgium, with a CAGR of X%, 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 2022, the import price in the European Union amounted to $X per ton, approximately reflecting the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. Over the period under review, import prices attained the peak figure in 2022 and is likely to continue growth in the near future.

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

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

Source: IndexBox Platform

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