Europe: Salicylic Acid Market 2024

Salicylic Acid Market Size in Europe

The Europe salicylic acid market expanded rapidly to $X in 2021, growing by 5.6% against the previous year. In general, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Salicylic Acid Production in Europe

In value terms, salicylic acid production skyrocketed to $X in 2021 estimated in export price. In general, production, however, continues to indicate a perceptible shrinkage. The growth pace was the most rapid in 2017 with an increase of 90% against the previous year. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Salicylic Acid Exports

Exports in Europe

In 2021, overseas shipments of salicylic acid and its salts increased by 416% to X tons, rising for the second consecutive year after two years of decline. Overall, exports enjoyed a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, salicylic acid exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate a strong increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

France prevails in exports structure, finishing at X tons, which was approx. 80% of total exports in 2021. It was distantly followed by Germany (X tons), mixing up a 9.5% share of total exports. The Netherlands (X tons), Spain (X tons) and Belgium (X tons) took a relatively small share of total exports.

France experienced a relatively flat trend pattern with regard to volume of exports of salicylic acid and its salts. At the same time, the Netherlands (+12.3%), Spain (+6.0%), Germany (+3.5%) and Belgium (+3.4%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in Europe, with a CAGR of +12.3% from 2012-2021. From 2012 to 2021, the share of France increased by +80 percentage points.

In value terms, France ($X) emerged as the largest salicylic acid supplier in Europe, comprising 58% of total exports. The second position in the ranking was taken by Germany ($X), with a 28% share of total exports. It was followed by the Netherlands, with a 3.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value in France was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Germany (+4.3% per year) and the Netherlands (+13.1% per year).

Export Prices by Country

In 2021, the export price in Europe amounted to $X per ton, reducing by -50.5% against the previous year. Overall, the export price recorded a perceptible downturn. The pace of growth was the most pronounced in 2014 when the export price increased by 68% against the previous year. The level of export peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

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 ($X per ton), while France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+7.0%), while the other leaders experienced more modest paces of growth.

Salicylic Acid Imports

Imports in Europe

Salicylic acid imports stood at X tons in 2021, remaining stable against the previous year's figure. In general, imports, however, continue to indicate a slight downturn. The pace of growth appeared the most rapid in 2020 when imports increased by 27% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, salicylic acid imports reached $X in 2021. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 26% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Germany (X tons) represented the major importer of salicylic acid and its salts, committing 32% of total imports. Italy (X tons) held an 8.7% share (based on physical terms) of total imports, which put it in second place, followed by the Netherlands (8.3%), the UK (8%), Spain (7.9%), Denmark (7.9%), Sweden (6.9%) and Poland (4.9%).

Germany experienced a relatively flat trend pattern with regard to volume of imports of salicylic acid and its salts. At the same time, the UK (+8.6%), the Netherlands (+7.2%), Denmark (+2.8%) and Poland (+1.8%) displayed positive paces of growth. Moreover, the UK emerged as the fastest-growing importer imported in Europe, with a CAGR of +8.6% from 2012-2021. By contrast, Italy (-1.1%), Spain (-2.3%) and Sweden (-3.6%) illustrated a downward trend over the same period. The UK (+4.7 p.p.), the Netherlands (+4.4 p.p.), Germany (+4.2 p.p.) and Denmark (+2.5 p.p.) significantly strengthened its position in terms of the total imports, while Sweden saw its share reduced by -1.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) constitutes the largest market for imported salicylic acid and its salts in Europe, comprising 31% of total imports. The second position in the ranking was taken by Italy ($X), with a 10% share of total imports. It was followed by the Netherlands, with an 8.1% share.

In Germany, salicylic acid imports expanded at an average annual rate of +2.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Italy (+2.7% per year) and the Netherlands (+8.8% per year).

Import Prices by Country

In 2021, the import price in Europe amounted to $X per ton, growing by 7% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 17% against the previous year. As a result, import price attained the peak level of $X per ton; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Poland ($X per ton), while the UK ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+5.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform