Lithuania: Phenylacetic Acid Market 2024

Phenylacetic Acid Market Size in Lithuania

The Lithuanian phenylacetic acid market soared to $X in 2022, surging by X% against the previous year. Over the period under review, consumption showed a pronounced curtailment. Over the period under review, the market reached the peak level at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Phenylacetic Acid Production in Lithuania

In value terms, phenylacetic acid production skyrocketed to $X in 2022 estimated in export price. Overall, production enjoyed resilient growth. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Phenylacetic Acid Exports

Exports from Lithuania

In 2022, the amount of phenylacetic acid, its salts and esters exported from Lithuania skyrocketed to X tons, picking up by X% compared with 2021. In general, exports posted significant growth. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, phenylacetic acid exports surged to $X in 2022. Over the period under review, exports recorded significant growth. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Russia (X tons) was the main destination for phenylacetic acid exports from Lithuania, with a X% share of total exports. Moreover, phenylacetic acid exports to Russia exceeded the volume sent to the second major destination, Ukraine (X kg), more than tenfold. The third position in this ranking was held by the UK (X kg), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (X% per year) and the UK (X% per year).

In value terms, Russia ($X) emerged as the key foreign market for phenylacetic acid, its salts and esters exports from Lithuania, comprising X% of total exports. The second position in the ranking was held by Ukraine ($X), with a X% share of total exports. It was followed by the UK, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Russia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (X% per year) and the UK (X% per year).

Export Prices by Country

In 2022, the average phenylacetic acid export price amounted to $X per ton, dropping by X% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average export price increased by X%. The export price peaked at $X per ton in 2021, and then declined sharply in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belarus ($X per ton), while the average price for exports to Russia ($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 Belarus (X%), while the prices for the other major destinations experienced mixed trend patterns.

Phenylacetic Acid Imports

Imports into Lithuania

In 2022, overseas purchases of phenylacetic acid, its salts and esters increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports enjoyed a resilient expansion. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, phenylacetic acid imports soared to $X in 2022. Overall, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2017 when imports increased by X%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Poland (X tons) constituted the largest phenylacetic acid supplier to Lithuania, accounting for a X% share of total imports. Moreover, phenylacetic acid imports from Poland exceeded the figures recorded by the second-largest supplier, Italy (X kg), sevenfold. The third position in this ranking was taken by China (X kg), with a X% share.

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

In value terms, China ($X), Poland ($X) and Spain ($X) constituted the largest phenylacetic acid suppliers to Lithuania, with a combined X% share of total imports.

China, with a CAGR of X%, 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

The average phenylacetic acid import price stood at $X per ton in 2022, declining by X% against the previous year. Overall, the import price, however, recorded a strong increase. The pace of growth appeared the most rapid in 2021 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton, and then reduced rapidly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform