Israel: Monocarboxylic Acid Market 2024

Monocarboxylic Acid Market Size in Israel

The Israeli monocarboxylic acid market rose modestly to $X in 2022, increasing by 2.2% against the previous year. Overall, the total consumption indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +54.1% against 2016 indices. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in years to come.

Monocarboxylic Acid Production in Israel

In value terms, monocarboxylic acid production shrank modestly to $X in 2022 estimated in export price. In general, the total production indicated a perceptible increase from 2012 to 2022: its value 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, production decreased by -2.8% against 2019 indices. The growth pace was the most rapid in 2019 with an increase of 34% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Monocarboxylic Acid Exports

Exports from Israel

Monocarboxylic acid exports from Israel expanded markedly to X tons in 2022, surging by 12% against the previous year's figure. Overall, exports, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 when exports increased by 340% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, monocarboxylic acid exports dropped notably to $X in 2022. Over the period under review, exports recorded a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 124%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Brazil (X tons) was the main destination for monocarboxylic acid exports from Israel, accounting for a 83% share of total exports. Moreover, monocarboxylic acid exports to Brazil exceeded the volume sent to the second major destination, India (X tons), tenfold. The third position in this ranking was taken by Colombia (X tons), with a 3.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Brazil amounted to +36.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+1.6% per year) and Colombia (-7.2% per year).

In value terms, Brazil ($X) remains the key foreign market for acrylic acid and its salts and other monocarboxylic acid exports from Israel, comprising 86% of total exports. The second position in the ranking was taken by the United States ($X), with a 4.3% share of total exports. It was followed by Colombia, with a 4% share.

From 2012 to 2022, the average annual growth rate of value to Brazil amounted to +43.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-22.3% per year) and Colombia (+19.5% per year).

Export Prices by Country

The average monocarboxylic acid export price stood at $X per ton in 2022, which is down by -33.3% against the previous year. In general, the export price, however, showed significant growth. The pace of growth was the most pronounced in 2019 an increase of 702% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to India ($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 the United States (+38.5%), while the prices for the other major destinations experienced more modest paces of growth.

Monocarboxylic Acid Imports

Imports into Israel

In 2022, supplies from abroad of acrylic acid and its salts and other monocarboxylic acid increased by 36% to X tons, rising for the fourth consecutive year after four years of decline. Over the period under review, imports recorded a temperate expansion. The most prominent rate of growth was recorded in 2014 with an increase of 72% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, monocarboxylic acid imports soared to $X in 2022. Overall, imports enjoyed a significant expansion. The pace of growth was the most pronounced in 2019 when imports increased by 190% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.

Imports by Country

China (X tons), Belgium (X tons) and the Netherlands (X tons) were the main suppliers of monocarboxylic acid imports to Israel, together accounting for 75% of total imports. India, Germany, Poland, Switzerland, the United States and France lagged somewhat behind, together comprising a further 17%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +35.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of acrylic acid and its salts and other monocarboxylic acid to Israel, comprising 66% of total imports. The second position in the ranking was held by India ($X), with a 27% share of total imports. It was followed by Belgium, with a 2.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +30.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+46.2% per year) and Belgium (+4.8% per year).

Import Prices by Country

The average monocarboxylic acid import price stood at $X per ton in 2022, growing by 25% against the previous year. Overall, the import price showed a significant increase. The pace of growth was the most pronounced in 2018 when the average import price increased by 210% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Poland ($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 United States (+31.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :