Germany: Carboxylic Acid Market 2024

Carboxylic Acid Market Size in Germany

After three years of decline, the German carboxylic acid market increased by 19% to $X in 2021. Over the period under review, the total consumption indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Carboxylic acid consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Carboxylic Acid Production in Germany

In value terms, carboxylic acid production surged to $X in 2021 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the production volume increased by 25% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Carboxylic Acid Exports

Exports from Germany

In 2021, carboxylic acid exports from Germany stood at X tons, increasing by 6% against the previous year's figure. The total export volume increased at an average annual rate of +2.4% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when exports increased by 10% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, carboxylic acid exports stood at $X in 2021. In general, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when exports increased by 18% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The UK (X tons) was the main destination for carboxylic acid exports from Germany, with a 24% share of total exports. Moreover, carboxylic acid exports to the UK exceeded the volume sent to the second major destination, France (X tons), twofold. Japan (X tons) ranked third in terms of total exports with an 8.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the UK stood at +1.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+18.3% per year) and Japan (+8.7% per year).

In value terms, the UK ($X), France ($X) and Japan ($X) appeared to be the largest markets for carboxylic acid exported from Germany worldwide, together comprising 32% of total exports. These countries were followed by the Netherlands, the United States, Italy, Spain, Belgium, Brazil, Austria, Switzerland, Singapore and Poland, which together accounted for a further 42%.

In terms of the main countries of destination, the Netherlands, with a CAGR of +10.5%, recorded 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 2021, the average carboxylic acid export price amounted to $X per ton, rising by 8.4% against the previous year. Over the period under review, the export price, however, saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2014 when the average export price increased by 13% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Singapore ($X per ton), while the average price for exports to the UK ($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 the Netherlands (+9.7%), while the prices for the other major destinations experienced more modest paces of growth.

Carboxylic Acid Imports

Imports into Germany

In 2021, after three years of decline, there was significant growth in supplies from abroad of carboxylic acid with alcohol, phenol, aldehyde or ketone functions, when their volume increased by 8.7% to X tons. Over the period under review, total imports indicated a temperate increase from 2012 to 2021: its volume increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 when imports increased by 81% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, carboxylic acid imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2016 with an increase of 45% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the near future.

Imports by Country

Switzerland (X tons), the Netherlands (X tons) and France (X tons) were the main suppliers of carboxylic acid imports to Germany, together comprising 59% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +17.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Switzerland ($X), Italy ($X) and China ($X) constituted the largest carboxylic acid suppliers to Germany, with a combined 49% share of total imports. These countries were followed by the Netherlands, Belgium, India, France and Spain, which together accounted for a further 31%.

The Netherlands, with a CAGR of +14.7%, saw 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 carboxylic acid import price stood at $X per ton in 2021, increasing by 14% against the previous year. In general, the import price, however, recorded a mild decline. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

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 Belgium (+8.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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