Report Update Nov 1, 2024

Iran - Salicylic Acid and Its Salts - Market Analysis, Forecast, Size, Trends and Insights

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Iran: Salicylic Acid Market 2024

Salicylic Acid Market Size in Iran

The Iranian salicylic acid market surged to $X in 2021, rising by 74% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption posted notable growth. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Salicylic Acid Exports

Exports from Iran

In 2021, shipments abroad of salicylic acid and its salts decreased by -9.7% to X kg, falling for the fourth consecutive year after two years of growth. Over the period under review, exports recorded a significant contraction. The pace of growth was the most pronounced in 2016 with an increase of 232%. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, salicylic acid exports declined to $X in 2021. Overall, exports faced a dramatic contraction. The pace of growth appeared the most rapid in 2016 when exports increased by 283%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Azerbaijan (X kg) was the main destination for salicylic acid exports from Iran, accounting for a approx. 131% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Azerbaijan totaled -11.2%.

In value terms, Azerbaijan ($X) also remains the key foreign market for salicylic acid and its salts exports from Iran.

From 2012 to 2021, the average annual rate of growth in terms of value to Azerbaijan amounted to -13.7%.

Export Prices by Country

The average salicylic acid export price stood at $X per ton in 2021, growing by 3.2% against the previous year. Over the period under review, export price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, salicylic acid export price increased by +95.9% against 2015 indices. The pace of growth was the most pronounced in 2018 when the average export price increased by 33%. Over the period under review, the average export prices reached the maximum in 2021 and is likely to see gradual growth in the near future.

As there is only one major export destination, the average price level is determined by prices for Azerbaijan.

From 2012 to 2021, the rate of growth in terms of prices for Azerbaijan amounted to -2.9% per year.

Salicylic Acid Imports

Imports into Iran

In 2021, salicylic acid imports into Iran surged to X tons, with an increase of 79% on the previous year. Over the period under review, imports continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2016 with an increase of 510% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, salicylic acid imports skyrocketed to $X in 2021. In general, imports saw a modest expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 454%. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of salicylic acid to Iran, with a 57% share of total imports. Moreover, salicylic acid imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), more than tenfold. India (X tons) ranked third in terms of total imports with a 2.5% share.

From 2012 to 2021, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+9.8% per year) and India (-13.9% per year).

In value terms, South Korea ($X), China ($X) and Turkey ($X) constituted the largest salicylic acid suppliers to Iran, together comprising 75% of total imports.

South Korea, with a CAGR of +53.9%, saw 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 mixed trend patterns.

Import Prices by Country

The average salicylic acid import price stood at $X per ton in 2021, reducing by -6.9% against the previous year. In general, the import price continues to indicate a noticeable decline. The most prominent rate of growth was recorded in 2019 when the average import price increased by 39% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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 South Korea ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+19.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for salicylic acid and its salts in the world?

India constituted the country with the largest volume of salicylic acid consumption, comprising approx. 42% of total volume. Moreover, salicylic acid consumption in India exceeded the figures recorded by the second-largest consumer, Spain, sixfold. The third position in this ranking was occupied by Mexico, with a 6.8% share.

What are the largest producers of salicylic acid and its salts in the world?

China remains the largest salicylic acid producing country worldwide, accounting for 86% of total volume. Moreover, salicylic acid production in China exceeded the figures recorded by the second-largest producer, Spain, tenfold.

What are the leading suppliers of salicylic acid and its salts to Iran?

In value terms, South Korea constituted the largest supplier of salicylic acid to Iran, comprising 72% of total imports. The second position in the ranking was occupied by China, with a 23% share of total imports. It was followed by India, with a 1.7% share.

What are the leading importers of salicylic acid and its salts from Iran?

In value terms, Azerbaijan remains the key foreign market for salicylic acid exports from Iran.

What is the average export price for salicylic acid and its salts in Iran?

In 2020, the average salicylic acid export price amounted to $6,305 per ton, growing by 55% against the previous year.

What is the average import price for salicylic acid and its salts in Iran?

In 2020, the average salicylic acid import price amounted to $3,006 per ton, reducing by -16.9% against the previous year.

This report provides an in-depth analysis of the salicylic acid market in Iran. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 21101030 - Salicylic acid and its salts

Country coverage:

Iran

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Iran
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023