Europe: O-Acetylsalicylic Acid Market 2024

O-Acetylsalicylic Acid Market Size in Europe

In 2021, the Europe o-acetylsalicylic acid market increased by 1% to $X, rising for the third consecutive year after two years of decline. The total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +59.0% against 2018 indices. Over the period under review, the market attained the maximum level in 2021 and is likely to see gradual growth in the near future.

O-Acetylsalicylic Acid Production in Europe

In value terms, o-acetylsalicylic acid production declined modestly to $X in 2021 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 6% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

O-Acetylsalicylic Acid Exports

Exports in Europe

For the third year in a row, Europe recorded decline in shipments abroad of o-acetylsalicylic acid, its salts and esters, which decreased by -6.8% to X tons in 2021. Over the period under review, exports saw a abrupt decrease. The growth pace was the most rapid in 2018 when exports increased by 12% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, o-acetylsalicylic acid exports shrank to $X in 2021. Overall, exports saw a perceptible decline. The pace of growth appeared the most rapid in 2018 with an increase of 22% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Spain prevails in exports structure, accounting for X tons, which was approx. 88% of total exports in 2021. It was distantly followed by Germany (X tons), committing a 9.1% share of total exports.

Spain experienced a relatively flat trend pattern with regard to volume of exports of o-acetylsalicylic acid, its salts and esters. At the same time, Germany (+6.3%) displayed positive paces of growth. Moreover, Germany emerged as the fastest-growing exporter exported in Europe, with a CAGR of +6.3% from 2012-2021. From 2012 to 2021, the share of Spain and Germany increased by +39 and +5.9 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Spain ($X) remains the largest o-acetylsalicylic acid supplier in Europe, comprising 76% of total exports. The second position in the ranking was held by Germany ($X), with a 20% share of total exports.

In Spain, o-acetylsalicylic acid exports remained relatively stable over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Europe amounted to $X per ton, surging by 5.2% against the previous year. Over the last nine years, it increased at an average annual rate of +1.1%. The growth pace was the most rapid in 2018 an increase of 9.2% against the previous year. Over the period under review, the export prices hit record highs in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while Spain amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+8.3%).

O-Acetylsalicylic Acid Imports

Imports in Europe

In 2021, o-acetylsalicylic acid imports in Europe shrank modestly to X tons, reducing by -3.2% against the year before. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 15%. The volume of import peaked at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, o-acetylsalicylic acid imports fell modestly to $X in 2021. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when imports increased by 18% against the previous year. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

The purchases of the three major importers of o-acetylsalicylic acid, its salts and esters, namely Germany, Russia and Italy, represented more than two-thirds of total import. Ukraine (X tons) took the next position in the ranking, followed by Belarus (X tons). All these countries together took near 11% share of total imports. The following importers - Austria (X tons), Poland (X tons), France (X tons), Romania (X tons), the UK (X tons), Spain (X tons) and Bulgaria (X tons) - together made up 19% of total imports.

From 2012 to 2021, the biggest increases were recorded for Bulgaria (with a CAGR of +9.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest o-acetylsalicylic acid importing markets in Europe were Germany ($X), Italy ($X) and Russia ($X), together comprising 61% of total imports. Ukraine, Austria, Poland, Belarus, France, Romania, the UK, Bulgaria and Spain lagged somewhat behind, together comprising a further 34%.

Among the main importing countries, Bulgaria, with a CAGR of +11.5%, 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

The import price in Europe stood at $X per ton in 2021, standing approx. at the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 5.1% against the previous year. As a result, import price reached the peak level of $X per ton; afterwards, it flattened through to 2021.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+3.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform