Finland: Acetic Acid Market 2024

Acetic Acid Market Size in Finland

The Finnish acetic acid market soared to $X in 2021, surging by 37% against the previous year. The market value increased at an average annual rate of +2.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Acetic Acid Production in Finland

In value terms, acetic acid production rose significantly to $X in 2021 estimated in export price. In general, production, however, saw a deep downturn. The pace of growth appeared the most rapid in 2013 with an increase of 47% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Acetic Acid Exports

Exports from Finland

In 2021, the amount of acetic acid exported from Finland dropped rapidly to X tons, which is down by -24.2% compared with the previous year's figure. The total export volume increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 73% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, acetic acid exports stood at $X in 2021. Overall, total exports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -14.7% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 65%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Sweden (X tons) was the main destination for acetic acid exports from Finland, accounting for a 98% share of total exports. It was followed by Lithuania (X tons), with a 1.9% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Sweden amounted to +6.0%.

In value terms, Sweden ($X) remains the key foreign market for acetic acid exports from Finland, comprising 96% of total exports. The second position in the ranking was taken by Lithuania ($X), with a 3.1% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Sweden totaled +8.8%.

Export Prices by Country

The average acetic acid export price stood at $X per ton in 2021, picking up by 34% against the previous year. Overall, export price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, acetic acid export price increased by +60.8% against 2017 indices. The growth pace was the most rapid in 2019 an increase of 37% against the previous year. The export price peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Lithuania ($X per ton), while the average price for exports to Sweden totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Lithuania (+5.2%), while the prices for the other major destinations experienced mixed trend patterns.

Acetic Acid Imports

Imports into Finland

In 2021, imports of acetic acid into Finland contracted to X tons, which is down by -10.9% against the year before. Overall, imports saw a perceptible decrease. The pace of growth appeared the most rapid in 2019 when imports increased by 56%. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, acetic acid imports skyrocketed to $X in 2021. Over the period under review, imports, however, saw strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X tons), Russia (X tons) and Poland (X tons) were the main suppliers of acetic acid imports to Finland, together accounting for 82% of total imports. These countries were followed by Turkey, Belgium, Switzerland and the Netherlands, which together accounted for a further 14%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Switzerland (with a CAGR of +321,958.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Poland ($X) and Russia ($X) appeared to be the largest acetic acid suppliers to Finland, together accounting for 78% of total imports. These countries were followed by Turkey, Belgium, Switzerland and the Netherlands, which together accounted for a further 18%.

Switzerland, with a CAGR of +852,516.0%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average acetic acid import price stood at $X per ton in 2021, increasing by 115% against the previous year. Over the period under review, the import price posted a strong increase. As a result, import 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 supplying countries. In 2021, amid the top importers, the country with the highest price was Poland ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Switzerland (+163.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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