Israel: Salicylic Acid Market 2024

Salicylic Acid Market Size in Israel

The Israeli salicylic acid market fell dramatically to $X in 2021, which is down by -48.6% 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). Overall, consumption, however, saw a slight increase. Salicylic acid consumption peaked at $X in 2020, and then fell remarkably in the following year.

Salicylic Acid Exports

Exports from Israel

In 2021, overseas shipments of salicylic acid and its salts decreased by 0% to X tons, falling for the second consecutive year after two years of decline. Overall, exports saw a significant curtailment. The most prominent rate of growth was recorded in 2015 when exports increased by 48% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, salicylic acid exports totaled $X in 2021. In general, exports continue to indicate a drastic downturn. The pace of growth was the most pronounced in 2015 with an increase of 238%. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for salicylic acid exports from Israel, with a 167% share of total exports. Moreover, salicylic acid exports to the United States exceeded the volume sent to the second major destination, China (X tons), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled +60.7%.

In value terms, the United States ($X) remains the key foreign market for salicylic acid and its salts exports from Israel, comprising 64% of total exports. The second position in the ranking was taken by China ($X), with a 26% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +63.2%.

Export Prices by Country

In 2021, the average salicylic acid export price amounted to $X per ton, therefore, remained relatively stable against the previous year. Over the period under review, the export price continues to indicate a strong expansion. The growth pace was the most rapid in 2015 when the average export price increased by 128% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to the United States stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to France (+12.1%), while the prices for the other major destinations experienced mixed trend patterns.

Salicylic Acid Imports

Imports into Israel

In 2021, imports of salicylic acid and its salts into Israel contracted remarkably to X tons, dropping by -48.9% on the previous year. Overall, imports saw a noticeable decline. The most prominent rate of growth was recorded in 2015 with an increase of 126% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports remained at a lower figure.

In value terms, salicylic acid imports contracted notably to $X in 2021. In general, imports, however, continue to indicate a temperate expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 118% against the previous year. Over the period under review, imports attained the maximum at $X in 2020, and then shrank rapidly in the following year.

Imports by Country

In 2021, France (X tons) was the main salicylic acid supplier to Israel, accounting for a 111% share of total imports. Moreover, salicylic acid imports from France exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The third position in this ranking was taken by China (X tons), with a 41% share.

From 2012 to 2021, the average annual growth rate of volume from France totaled +7.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+10.1% per year) and China (+40.6% per year).

In value terms, the largest salicylic acid suppliers to Israel were Germany ($X), France ($X) and China ($X), with a combined 84% share of total imports.

China, with a CAGR of +38.4%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average salicylic acid import price amounted to $X per ton, growing by 12% against the previous year. In general, import price indicated resilient growth from 2012 to 2021: its price increased at an average annual rate of +5.4% 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 import price increased by +61.1% against 2016 indices. The pace of growth appeared the most rapid in 2019 when the average import price increased by 14%. Over the period under review, average import prices attained the maximum in 2021 and is expected to retain growth in the immediate term.

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 Spain ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+14.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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