Israel: Carboxylic Acid Market 2024

Carboxylic Acid Market Size in Israel

The Israeli carboxylic acid market totaled $X in 2021, with an increase of 11% against the previous year. The market value increased at an average annual rate of +3.0% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. Over the period under review, the market hit record highs in 2021 and is likely to see steady growth in the near future.

Carboxylic Acid Production in Israel

In value terms, carboxylic acid production reduced to $X in 2021 estimated in export price. Over the period under review, production saw a deep setback. The most prominent rate of growth was recorded in 2015 when the production volume increased by 85%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Carboxylic Acid Exports

Exports from Israel

After two years of growth, shipments abroad of carboxylic acid with alcohol, phenol, aldehyde or ketone functions decreased by -18.3% to X tons in 2021. Overall, exports continue to indicate a sharp slump. The most prominent rate of growth was recorded in 2015 when exports increased by 232% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, carboxylic acid exports surged to $X in 2021. Over the period under review, exports, however, showed a relatively flat trend pattern. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for carboxylic acid exports from Israel, accounting for a 28% share of total exports. Moreover, carboxylic acid exports to the United States exceeded the volume sent to the second major destination, Singapore (X tons), fourfold. The third position in this ranking was taken by Switzerland (X tons), with a 7.2% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at -18.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (-8.0% per year) and Switzerland (+4.7% per year).

In value terms, the United States ($X) remains the key foreign market for carboxylic acid with alcohol, phenol, aldehyde or ketone functions exports from Israel, comprising 53% of total exports. The second position in the ranking was taken by the Netherlands ($X), with an 11% share of total exports. It was followed by Singapore, with a 4.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +2.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+4.7% per year) and Singapore (+9.2% per year).

Export Prices by Country

The average carboxylic acid export price stood at $X per ton in 2021, surging by 47% against the previous year. Overall, the export price enjoyed a significant increase. The pace of growth was the most pronounced in 2013 an increase of 424%. Over the period under review, the average export prices attained the peak figure in 2021 and is likely to see steady growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to Uruguay ($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 UK (+42.6%), while the prices for the other major destinations experienced more modest paces of growth.

Carboxylic Acid Imports

Imports into Israel

In 2021, imports of carboxylic acid with alcohol, phenol, aldehyde or ketone functions into Israel fell markedly to X tons, with a decrease of -32.2% on the previous year's figure. In general, imports saw a abrupt contraction. The pace of growth appeared the most rapid in 2017 when imports increased by 99% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, carboxylic acid imports soared to $X in 2021. Over the period under review, imports recorded a slight curtailment. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Hungary (X tons), Spain (X tons) and China (X tons) were the main suppliers of carboxylic acid imports to Israel, together accounting for 53% of total imports.

From 2012 to 2021, the biggest increases were recorded for Hungary (with a CAGR of +133.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of carboxylic acid with alcohol, phenol, aldehyde or ketone functions to Israel, comprising 42% of total imports. The second position in the ranking was taken by India ($X), with a 16% share of total imports. It was followed by Hungary, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to -1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+52.0% per year) and Hungary (-4.2% per year).

Import Prices by Country

In 2021, the average carboxylic acid import price amounted to $X per ton, jumping by 100% against the previous year. In general, the import price recorded a tangible increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was India ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+12.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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