Italy: Adipic Acid Market 2024

Adipic Acid Market Size in Italy

In 2022, the Italian adipic acid market increased by 5.3% to $X, rising for the second consecutive year after two years of decline. Overall, the total consumption indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.2% 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 +72.6% against 2020 indices. Adipic acid consumption peaked in 2022 and is likely to continue growth in the immediate term.

Adipic Acid Production in Italy

In value terms, adipic acid production surged to $X in 2022 estimated in export price. Over the period under review, the total production indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +70.5% against 2020 indices. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Adipic Acid Exports

Exports from Italy

In 2022, the amount of adipic acid, its salts and esters exported from Italy contracted to X tons, which is down by -7.9% on the previous year's figure. Over the period under review, total exports indicated a temperate expansion from 2012 to 2022: its volume 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, exports decreased by -14.2% against 2020 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 23%. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, adipic acid exports rose sharply to $X in 2022. In general, total exports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +68.7% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 24%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

France (X tons), Switzerland (X tons) and Germany (X tons) were the main destinations of adipic acid exports from Italy, together accounting for 69% of total exports. Spain, Slovenia, the UK, Poland, Turkey, China, Belgium, Sweden and the Netherlands lagged somewhat behind, together comprising a further 25%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of +17.6%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Switzerland ($X) and France ($X) appeared to be the largest markets for adipic acid exported from Italy worldwide, with a combined 61% share of total exports. Spain, the UK, China, Turkey, Slovenia, Poland, the Netherlands, Belgium and Sweden lagged somewhat behind, together accounting for a further 30%.

Poland, with a CAGR of +21.2%, recorded the highest growth rate of 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

In 2022, the average adipic acid export price amounted to $X per ton, increasing by 23% against the previous year. In general, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average export price increased by 34%. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to France ($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 Turkey (+6.5%), while the prices for the other major destinations experienced more modest paces of growth.

Adipic Acid Imports

Imports into Italy

In 2022, the amount of adipic acid, its salts and esters imported into Italy fell to X tons, dropping by -10.8% on the previous year. The total import volume increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 25%. As a result, imports attained the peak of X tons, and then fell in the following year.

In value terms, adipic acid imports surged to $X in 2022. In general, imports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2021 when imports increased by 95% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Germany (X tons) constituted the largest adipic acid supplier to Italy, accounting for a 54% share of total imports. Moreover, adipic acid imports from Germany exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was taken by the Netherlands (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from Germany totaled +1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+37.7% per year) and the Netherlands (+25.9% per year).

In value terms, Germany ($X) constituted the largest supplier of adipic acid, its salts and esters to Italy, comprising 56% of total imports. The second position in the ranking was taken by China ($X), with a 15% share of total imports. It was followed by the Netherlands, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from Germany stood at +4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+39.0% per year) and the Netherlands (+27.0% per year).

Import Prices by Country

In 2022, the average adipic acid import price amounted to $X per ton, picking up by 30% against the previous year. Overall, import price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +2.7% 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 +103.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 57% against the previous year. The import price peaked in 2022 and is likely to continue growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+3.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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