Israel: Adipic Acid Market 2024

Adipic Acid Market Size in Israel

The Israeli adipic acid market reached $X in 2022, increasing by 12% against the previous year. The market value increased at an average annual rate of +4.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Adipic Acid Production in Israel

In value terms, adipic acid production rose markedly to $X in 2022 estimated in export price. In general, production enjoyed a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 69% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Adipic Acid Exports

Exports from Israel

Adipic acid exports from Israel dropped notably to X tons in 2022, which is down by -21.1% compared with 2021. Overall, exports faced a abrupt contraction. The most prominent rate of growth was recorded in 2019 with an increase of 99.9%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, adipic acid exports shrank notably to $X in 2022. In general, exports faced a deep slump. The pace of growth was the most pronounced in 2019 with an increase of 99.9%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

South Korea (X tons), the United States (X tons) and Turkey (X tons) were the main destinations of adipic acid exports from Israel, together comprising 81% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Turkey (with a CAGR of +26.0%), while the other leaders experienced a decline.

In value terms, the United States ($X) remains the key foreign market for adipic acid, its salts and esters exports from Israel, comprising 59% of total exports. The second position in the ranking was taken by South Korea ($X), with an 18% share of total exports. It was followed by India, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to -5.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (-21.6% per year) and India (-19.0% per year).

Export Prices by Country

In 2022, the average adipic acid export price amounted to $X per ton, leveling off at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The growth pace was the most rapid in 2014 when the average export price increased by 17% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a somewhat 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 ($X per ton), while the average price for exports to South Korea ($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 (+9.7%), while the prices for the other major destinations experienced mixed trend patterns.

Adipic Acid Imports

Imports into Israel

In 2022, supplies from abroad of adipic acid, its salts and esters was finally on the rise to reach X tons after three years of decline. In general, imports, however, continue to indicate a abrupt decrease. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, adipic acid imports soared to $X in 2022. Over the period under review, imports, however, recorded a abrupt shrinkage. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest adipic acid supplier to Israel, accounting for a 71% share of total imports. Moreover, adipic acid imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. France (X tons) ranked third in terms of total imports with a 3.3% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +62.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+26.1% per year) and France (-28.0% per year).

In value terms, China ($X) constituted the largest supplier of adipic acid, its salts and esters to Israel, comprising 71% of total imports. The second position in the ranking was taken by the United States ($X), with a 21% share of total imports. It was followed by France, with a 3.3% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +63.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+28.5% per year) and France (-25.7% per year).

Import Prices by Country

The average adipic acid import price stood at $X per ton in 2022, jumping by 23% against the previous year. Overall, import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, adipic acid import price increased by +86.8% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of 51% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Belgium ($X per ton) and the United States ($X per ton), while the price for China ($X per ton) and France ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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