Luxembourg: Carboxylic Acid Market 2024

Carboxylic Acid Market Size in Luxembourg

The Luxembourg carboxylic acid market fell modestly to $X in 2021, approximately mirroring the previous year. In general, the total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.6% 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 +39.3% against 2019 indices. As a result, consumption reached the peak level of $X, and then dropped slightly in the following year.

Carboxylic Acid Production in Luxembourg

In value terms, carboxylic acid production fell significantly to $X in 2021 estimated in export price. In general, production, however, showed a resilient expansion. The growth pace was the most rapid in 2020 with an increase of 63%. As a result, production attained the peak level of $X, and then reduced notably in the following year.

Carboxylic Acid Exports

Exports from Luxembourg

In 2021, overseas shipments of carboxylic acid with alcohol, phenol, aldehyde or ketone functions decreased by -62.2% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, exports recorded a abrupt slump. The most prominent rate of growth was recorded in 2015 when exports increased by 381% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, carboxylic acid exports reduced rapidly to $X in 2021. Overall, exports showed a abrupt contraction. The most prominent rate of growth was recorded in 2015 when exports increased by 689% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Belgium (X tons) was the main destination for carboxylic acid exports from Luxembourg, with a 79% share of total exports. Moreover, carboxylic acid exports to Belgium exceeded the volume sent to the second major destination, Italy (X kg), sevenfold. The third position in this ranking was taken by Germany (X kg), with an 8% share.

From 2012 to 2021, the average annual growth rate of volume to Belgium was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (-26.4% per year) and Germany (-35.9% per year).

In value terms, Belgium ($X) remains the key foreign market for carboxylic acid with alcohol, phenol, aldehyde or ketone functions exports from Luxembourg, comprising 81% of total exports. The second position in the ranking was taken by Italy ($X), with a 9.5% share of total exports. It was followed by Germany, with a 7% share.

From 2012 to 2021, the average annual growth rate of value to Belgium stood at +13.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (-20.5% per year) and Germany (-33.7% per year).

Export Prices by Country

The average carboxylic acid export price stood at $X per ton in 2021, with an increase of 24% against the previous year. In general, the export price enjoyed a remarkable increase. The pace of growth was the most pronounced in 2016 when the average export price increased by 69%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In 2021, the highest price was recorded for prices to Belgium ($X per ton) and Germany ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+14.7%), while the prices for the other major destinations experienced more modest paces of growth.

Carboxylic Acid Imports

Imports into Luxembourg

In 2021, imports of carboxylic acid with alcohol, phenol, aldehyde or ketone functions into Luxembourg surged to X tons, rising by 51% against the year before. The total import volume increased at an average annual rate of +3.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, carboxylic acid imports soared to $X in 2021. In general, total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +7.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when imports increased by 49%. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of carboxylic acid to Luxembourg, accounting for a 69% share of total imports. Moreover, carboxylic acid imports from Germany exceeded the figures recorded by the second-largest supplier, Belgium (X tons), threefold. The third position in this ranking was held by France (X tons), with a 3.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany amounted to +1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+17.3% per year) and France (+21.1% per year).

In value terms, Germany ($X) constituted the largest supplier of carboxylic acid with alcohol, phenol, aldehyde or ketone functions to Luxembourg, comprising 63% of total imports. The second position in the ranking was held by Belgium ($X), with a 17% share of total imports. It was followed by Italy, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany stood at +10.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+6.6% per year) and Italy (-0.9% per year).

Import Prices by Country

The average carboxylic acid import price stood at $X per ton in 2021, shrinking by -5.3% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.8%. The most prominent rate of growth was recorded in 2018 when the average import price increased by 32%. The import price peaked at $X per ton in 2020, and then fell in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Italy ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+8.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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