Europe: Adipic Acid Market 2024

Adipic Acid Market Size in Europe

In 2022, the Europe adipic acid market increased by 1.9% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +2.3% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Adipic Acid Production in Europe

In value terms, adipic acid production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2021 when the production volume increased by 13% against the previous year. Over the period under review, production attained the maximum level in 2022 and is expected to retain growth in years to come.

Adipic Acid Exports

Exports in Europe

In 2022, overseas shipments of adipic acid, its salts and esters decreased by -21.8% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2021 when exports increased by 432%. As a result, the exports attained the peak of X tons, and then shrank remarkably in the following year.

In value terms, adipic acid exports fell to $X in 2022. Overall, exports, however, posted a resilient increase. The pace of growth appeared the most rapid in 2021 when exports increased by 400%. As a result, the exports reached the peak of $X, and then reduced in the following year.

Exports by Country

France represented the largest exporting country with an export of around X tons, which finished at 73% of total exports. Italy (X tons) took the second position in the ranking, distantly followed by Belgium (X tons). All these countries together held near 20% share of total exports. The Netherlands (X tons) followed a long way behind the leaders.

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 Europe, with a CAGR of +12.7% from 2012-2022. By contrast, the Netherlands (-19.9%) illustrated a downward trend over the same period. France (+73 p.p.) and Belgium (+3 p.p.) significantly strengthened its position in terms of the total exports, while Italy and the Netherlands saw its share reduced by -4.4% and -49.7% from 2012 to 2022, respectively.

In value terms, France ($X) remains the largest adipic acid supplier in Europe, comprising 69% of total exports. The second position in the ranking was held by Italy ($X), with a 16% share of total exports. It was followed by Belgium, with a 6.8% share.

In France, adipic acid exports expanded at an average annual rate of +4.7% over the period from 2012-2022. 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

In 2022, the export price in Europe amounted to $X per ton, surging by 25% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

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 Europe

In 2022, the amount of adipic acid, its salts and esters imported in Europe shrank to X tons, which is down by -8.8% against the previous year. The total import volume increased at an average annual rate of +2.1% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 33%. As a result, imports reached the peak of X tons, and then fell in the following year.

In value terms, adipic acid imports totaled $X in 2022. Total imports indicated a notable expansion 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 +110.6% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 93%. The level of import peaked in 2022 and is likely to see steady growth in years to come.

Imports by Country

In 2022, Italy (X tons) and the Netherlands (X tons) were the major importers of adipic acid, its salts and esters in Europe, together making up 56% of total imports. Germany (X tons) held an 11% share (based on physical terms) of total imports, which put it in second place, followed by Spain (10%) and France (6.4%). The following importers - Belgium (X tons) and Switzerland (X tons) - each resulted at a 6.4% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by the Netherlands (with a CAGR of +5.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), the Netherlands ($X) and Germany ($X) constituted the countries with the highest levels of imports in 2022, with a combined 63% share of total imports.

Among the main importing countries, Italy, with a CAGR of +6.2%, saw 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

In 2022, the import price in Europe amounted to $X per ton, picking up by 20% against the previous year. Import price indicated modest growth 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 +73.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the import price increased by 45%. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Switzerland ($X per ton), while the Netherlands ($X per ton) was 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