Finland: Carboxylic Acid Market 2024

Carboxylic Acid Market Size in Finland

The Finnish carboxylic acid market skyrocketed to $X in 2021, rising by 16% against the previous year. Overall, consumption recorded a mild decrease. Carboxylic acid consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Carboxylic Acid Production in Finland

In value terms, carboxylic acid production soared to $X in 2021 estimated in export price. In general, production, however, continues to indicate a deep reduction. Carboxylic acid production peaked at $X in 2016; however, from 2017 to 2021, production stood at a somewhat lower figure.

Carboxylic Acid Exports

Exports from Finland

In 2021, approx. X tons of carboxylic acid with alcohol, phenol, aldehyde or ketone functions were exported from Finland; shrinking by -87.3% on the year before. In general, exports recorded a abrupt descent. The pace of growth was the most pronounced in 2020 when exports increased by 478% against the previous year. As a result, the exports reached the peak of X tons, and then declined significantly in the following year.

In value terms, carboxylic acid exports dropped remarkably to $X in 2021. Overall, exports saw a sharp curtailment. The most prominent rate of growth was recorded in 2020 when exports increased by 584% against the previous year. As a result, the exports attained the peak of $X, and then shrank remarkably in the following year.

Exports by Country

Austria (X tons), Estonia (X tons) and Sweden (X tons) were the main destinations of carboxylic acid exports from Finland, together accounting for 74% of total exports. These countries were followed by Latvia, Lithuania, Denmark, Russia, the UK and Poland, which together accounted for a further 25%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Latvia (with a CAGR of +8.9%), while the other leaders experienced more modest paces of growth.

In value terms, Austria ($X), Denmark ($X) and Sweden ($X) appeared to be the largest markets for carboxylic acid exported from Finland worldwide, with a combined 64% share of total exports. These countries were followed by Estonia, Latvia, Lithuania, Russia, the UK and Poland, which together accounted for a further 34%.

In terms of the main countries of destination, Estonia, with a CAGR of +7.5%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average carboxylic acid export price stood at $X per ton in 2021, with a decrease of -37.4% against the previous year. Over the period under review, the export price recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2015 an increase of 87% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Denmark ($X per ton), while the average price for exports to Estonia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+2.0%), while the prices for the other major destinations experienced mixed trend patterns.

Carboxylic Acid Imports

Imports into Finland

Carboxylic acid imports into Finland declined to X tons in 2021, waning by -8.8% against the year before. Overall, imports recorded a pronounced decrease. The growth pace was the most rapid in 2020 with an increase of 77%. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, carboxylic acid imports skyrocketed to $X in 2021. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 33%. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Belgium (X tons), Switzerland (X tons) and the Netherlands (X tons) were the main suppliers of carboxylic acid imports to Finland, together comprising 62% of total imports. These countries were followed by Germany, France, China, Ireland, Italy and India, which together accounted for a further 26%.

From 2012 to 2021, the biggest increases were recorded for Ireland (with a CAGR of +28.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest carboxylic acid suppliers to Finland were Switzerland ($X), Belgium ($X) and Germany ($X), together comprising 47% of total imports. These countries were followed by the Netherlands, Italy, Ireland, India, China and France, which together accounted for a further 22%.

Ireland, with a CAGR of +26.1%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average carboxylic acid import price amounted to $X per ton, growing by 35% against the previous year. Over the period under review, import price indicated a measured expansion from 2012 to 2021: its price increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, carboxylic acid import price decreased by -7.9% against 2019 indices. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was India ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+21.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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