Italy: Monocarboxylic Acid Market 2024

Monocarboxylic Acid Market Size in Italy

In 2022, the Italian monocarboxylic acid market increased by 5.9% to $X, rising for the second year in a row after two years of decline. In general, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Monocarboxylic Acid Production in Italy

In value terms, monocarboxylic acid production rose notably to $X in 2022 estimated in export price. In general, production saw a noticeable setback. The growth pace was the most rapid in 2013 when the production volume increased by 43% against the previous year. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Monocarboxylic Acid Exports

Exports from Italy

In 2022, shipments abroad of acrylic acid and its salts and other monocarboxylic acid decreased by -20.6% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 when exports increased by 39% against the previous year. The exports peaked at X tons in 2021, and then contracted significantly in the following year.

In value terms, monocarboxylic acid exports declined dramatically to $X in 2022. Overall, exports showed a slight contraction. The pace of growth appeared the most rapid in 2013 when exports increased by 29%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Pakistan (X tons), Germany (X tons) and Spain (X tons) were the main destinations of monocarboxylic acid exports from Italy, together accounting for 69% 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 Pakistan (with a CAGR of +118.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for monocarboxylic acid exported from Italy were Spain ($X), the Netherlands ($X) and Germany ($X), together comprising 62% of total exports. India, France, Pakistan, South Korea, Israel, Turkey, Switzerland, Greece and New Zealand lagged somewhat behind, together comprising a further 28%.

Pakistan, with a CAGR of +62.8%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average monocarboxylic acid export price stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Overall, the export price saw a noticeable contraction. The pace of growth was the most pronounced in 2013 an increase of 29% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Pakistan ($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 South Korea (+6.6%), while the prices for the other major destinations experienced more modest paces of growth.

Monocarboxylic Acid Imports

Imports into Italy

In 2022, approx. X tons of acrylic acid and its salts and other monocarboxylic acid were imported into Italy; waning by -6.3% compared with the previous year's figure. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 369% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, monocarboxylic acid imports rose rapidly to $X in 2022. Over the period under review, imports, however, recorded a mild increase. The growth pace was the most rapid in 2018 with an increase of 202% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Germany (X tons), France (X tons) and the Czech Republic (X tons) were the main suppliers of monocarboxylic acid imports to Italy, with a combined 78% share of total imports. China, the Netherlands, Belgium and Indonesia lagged somewhat behind, together accounting for a further 19%.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +10.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest monocarboxylic acid suppliers to Italy were Germany ($X), France ($X) and China ($X), with a combined 67% share of total imports. Belgium, the Netherlands, the Czech Republic and Indonesia lagged somewhat behind, together comprising a further 23%.

The Netherlands, with a CAGR of +10.9%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average monocarboxylic acid import price stood at $X per ton in 2022, surging by 22% against the previous year. In general, the import price recorded notable growth. The pace of growth was the most pronounced in 2020 an increase of 123%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for the Czech Republic ($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 Netherlands (+3.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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