Europe: Phenylacetic Acid Market 2024

Phenylacetic Acid Market Size in Europe

After three years of decline, the Europe phenylacetic acid market increased by X% to $X in 2022. Overall, consumption saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Phenylacetic Acid Production in Europe

In value terms, phenylacetic acid production rose slightly to $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Phenylacetic Acid Exports

Exports in Europe

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. Overall, exports, however, continue to indicate a noticeable slump. The most prominent rate of growth was recorded in 2020 when exports increased by X%. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, phenylacetic acid exports skyrocketed to $X in 2022. Total exports indicated slight 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 level of export peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany was the main exporter of phenylacetic acid, its salts and esters in Europe, with the volume of exports amounting to X tons, which was approx. X% of total exports in 2022. Belgium (X tons) held the second position in the ranking, distantly followed by the Netherlands (X tons), Italy (X tons) and Poland (X tons). All these countries together held approx. X% share of total exports. Spain (X tons) and France (X tons) followed a long way behind the leaders.

Exports from Germany decreased at an average annual rate of X% from 2012 to 2022. 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 Europe, 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. While the share of the Netherlands (X p.p.), Germany (X p.p.), Italy (X p.p.) and Spain (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Belgium (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual growth rate of value in Germany stood at X%. 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 Europe stood at $X per ton in 2022, jumping by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, 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 Europe

In 2022, approx. X tons of phenylacetic acid, its salts and esters were imported in Europe; surging by X% against the year before. Over the period under review, imports, however, saw a slight shrinkage. The most prominent rate of growth was recorded 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 lower figure.

In value terms, phenylacetic acid imports expanded notably to $X in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Italy (X tons) and Germany (X tons) represented roughly X% of total imports in 2022. It was distantly followed by Belgium (X tons), Spain (X tons), Russia (X tons) and Switzerland (X tons), together committing a X% share of total imports. The UK (X tons), France (X tons), the Netherlands (X tons), Greece (X tons), Poland (X tons) and Hungary (X tons) followed a long way behind the leaders.

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

In value terms, the largest phenylacetic acid importing markets in Europe were Italy ($X), Germany ($X) and Belgium ($X), together accounting for X% of total imports. Switzerland, Spain, France, the UK, Greece, Russia, the Netherlands, Hungary and Poland lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Russia, with a CAGR of X%, 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, approximately mirroring the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2019 an increase of X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

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

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

Source: IndexBox Platform