Italy: Carboxylic Acid Market 2024

Carboxylic Acid Market Size in Italy

The Italian carboxylic acid market fell slightly to $X in 2021, which is down by -4.7% against the previous year. Overall, the total consumption indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +2.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +66.7% against 2015 indices. Over the period under review, the market reached the peak level at $X in 2020, and then shrank modestly in the following year.

Carboxylic Acid Production in Italy

In value terms, carboxylic acid production dropped notably to $X in 2021 estimated in export price. Overall, production showed a perceptible curtailment. The pace of growth was the most pronounced in 2020 when the production volume increased by 23% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Carboxylic Acid Exports

Exports from Italy

After three years of decline, shipments abroad of carboxylic acid with alcohol, phenol, aldehyde or ketone functions increased by 0.8% to X tons in 2021. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 11%. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, carboxylic acid exports expanded notably to $X in 2021. Over the period under review, exports showed slight growth. The most prominent rate of growth was recorded in 2013 with an increase of 13%. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Germany (X tons), the United States (X tons) and France (X tons) were the main destinations of carboxylic acid exports from Italy, with a combined 39% share of total exports. These countries were followed by Spain, the UK, the Netherlands, Belgium, Russia, Japan, Poland, Turkey, Ireland and China, which together accounted for a further 38%.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +15.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for carboxylic acid with alcohol, phenol, aldehyde or ketone functions exports from Italy, comprising 23% of total exports. The second position in the ranking was held by the United States ($X), with an 8.2% share of total exports. It was followed by Japan, with a 7.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany amounted to +7.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-3.1% per year) and Japan (+1.5% per year).

Export Prices by Country

In 2021, the average carboxylic acid export price amounted to $X per ton, increasing by 7.3% against the previous year. Over the last nine years, it increased at an average annual rate of +1.5%. The most prominent rate of growth was recorded in 2018 an increase of 23%. The export price peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Japan ($X per ton), while the average price for exports to the UK ($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 Ireland (+14.0%), while the prices for the other major destinations experienced more modest paces of growth.

Carboxylic Acid Imports

Imports into Italy

In 2021, the amount of carboxylic acid with alcohol, phenol, aldehyde or ketone functions imported into Italy declined slightly to X tons, stabilizing at the previous year's figure. In general, total imports indicated temperate growth from 2012 to 2021: its volume increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +56.5% against 2015 indices. The pace of growth was the most pronounced in 2016 with an increase of 43%. Imports peaked at X tons in 2020, and then contracted slightly in the following year.

In value terms, carboxylic acid imports expanded modestly to $X in 2021. Overall, total imports indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +96.7% against 2015 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 59%. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in years to come.

Imports by Country

Spain (X tons), China (X tons) and Belgium (X tons) were the main suppliers of carboxylic acid imports to Italy, with a combined 40% share of total imports. Ireland, Australia, Germany, the UK, France, New Zealand, the United States, India, Poland and Switzerland lagged somewhat behind, together accounting for a further 51%.

From 2012 to 2021, the biggest increases were recorded for the UK (with a CAGR of +41.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), China ($X) and Ireland ($X) constituted the largest carboxylic acid suppliers to Italy, with a combined 46% share of total imports. These countries were followed by Belgium, France, Germany, Spain, the United States, New Zealand, the UK, Australia, Switzerland and Poland, which together accounted for a further 39%.

Among the main suppliers, the United States, with a CAGR of +32.4%, saw the highest growth rate of the value of imports, 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 carboxylic acid import price amounted to $X per ton, increasing by 4.4% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 33%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+11.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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