Germany: Monocarboxylic Acid Market 2024

Monocarboxylic Acid Market Size in Germany

The German monocarboxylic acid market shrank to $X in 2022, falling by -8.9% against the previous year. Over the period under review, consumption, however, saw a pronounced slump. Monocarboxylic acid consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Monocarboxylic Acid Production in Germany

In value terms, monocarboxylic acid production shrank dramatically to $X in 2022 estimated in export price. Over the period under review, production, however, showed a deep setback. The growth pace was the most rapid in 2021 with an increase of 35%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Monocarboxylic Acid Exports

Exports from Germany

In 2022, approx. X tons of acrylic acid and its salts and other monocarboxylic acid were exported from Germany; waning by -14.6% compared with the year before. In general, exports recorded a pronounced shrinkage. The growth pace was the most rapid in 2018 with an increase of 18%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, monocarboxylic acid exports shrank modestly to $X in 2022. Over the period under review, exports showed a mild shrinkage. The most prominent rate of growth was recorded in 2018 when exports increased by 25%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The Netherlands (X tons), France (X tons) and Belgium (X tons) were the main destinations of monocarboxylic acid exports from Germany, with a combined 52% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +15.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for monocarboxylic acid exported from Germany were France ($X), the United States ($X) and the Netherlands ($X), together accounting for 49% of total exports.

Among the main countries of destination, the Netherlands, with a CAGR of +12.8%, saw the highest rates of growth with regard to 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

In 2022, the average monocarboxylic acid export price amounted to $X per ton, rising by 13% against the previous year. Over the period under review, export price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, monocarboxylic acid export price increased by +77.4% against 2016 indices. The growth pace was the most rapid in 2021 when the average export price increased by 24% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+16.4%), while the prices for the other major destinations experienced more modest paces of growth.

Monocarboxylic Acid Imports

Imports into Germany

In 2022, approx. X tons of acrylic acid and its salts and other monocarboxylic acid were imported into Germany; increasing by 9.5% against the previous year's figure. Over the period under review, total imports indicated mild growth from 2012 to 2022: its volume increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +55.2% against 2018 indices. The pace of growth was the most pronounced in 2020 with an increase of 40% against the previous year. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, monocarboxylic acid imports surged to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 36%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Belgium (X tons) constituted the largest supplier of monocarboxylic acid to Germany, with a 64% share of total imports. Moreover, monocarboxylic acid imports from Belgium exceeded the figures recorded by the second-largest supplier, France (X tons), fivefold. China (X tons) ranked third in terms of total imports with a 9.1% share.

From 2012 to 2022, the average annual growth rate of volume from Belgium amounted to +4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-9.1% per year) and China (+0.3% per year).

In value terms, Belgium ($X), China ($X) and France ($X) constituted the largest monocarboxylic acid suppliers to Germany, together accounting for 73% of total imports. The Netherlands, the Czech Republic and Indonesia lagged somewhat behind, together comprising a further 14%.

Indonesia, with a CAGR of +92.1%, saw the highest growth rate of 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

The average monocarboxylic acid import price stood at $X per ton in 2022, rising by 6.3% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 39% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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