Italy: Phenylacetic Acid Market 2024

Phenylacetic Acid Market Size in Italy

In 2022, the Italian phenylacetic acid market increased by X% to $X, rising for the third consecutive year after six years of decline. In general, consumption, however, continues to indicate a mild descent. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Phenylacetic Acid Production in Italy

In value terms, phenylacetic acid production contracted remarkably to $X in 2022 estimated in export price. In general, production recorded a deep reduction. The pace of growth appeared the most rapid in 2018 with an increase of X%. Phenylacetic acid production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Phenylacetic Acid Exports

Exports from Italy

After two years of decline, shipments abroad of phenylacetic acid, its salts and esters increased by X% to X tons in 2022. Overall, exports saw a prominent increase. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, phenylacetic acid exports soared to $X in 2022. In general, total exports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2019 indices. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Belgium (X tons), Germany (X tons) and Singapore (X tons) were the main destinations of phenylacetic acid exports from Italy, together comprising X% 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 Singapore (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for phenylacetic acid exported from Italy were Germany ($X), Belgium ($X) and Singapore ($X), with a combined X% share of total exports.

Among the main countries of destination, Singapore, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average phenylacetic acid export price stood at $X per ton in 2022, waning by X% against the previous year. Over the period under review, the export price showed a pronounced decline. The most prominent rate of growth was recorded in 2020 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 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 Germany ($X per ton), while the average price for exports to Malta ($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 Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

Phenylacetic Acid Imports

Imports into Italy

In 2022, supplies from abroad of phenylacetic acid, its salts and esters increased by X% to X tons, rising for the third consecutive year after three years of decline. In general, imports, however, showed a relatively flat trend pattern. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, phenylacetic acid imports stood at $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest phenylacetic acid supplier to Italy, accounting for a X% share of total imports. Moreover, phenylacetic acid imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), twofold. Belgium (X tons) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Belgium (X% per year).

In value terms, China ($X) constituted the largest supplier of phenylacetic acid, its salts and esters to Italy, comprising X% of total imports. The second position in the ranking was taken by India ($X), with an X% share of total imports. It was followed by Belgium, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Belgium (X% per year).

Import Prices by Country

In 2022, the average phenylacetic acid import price amounted to $X per ton, which is down by X% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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