Netherlands: Benzoic Acid Market 2024

Benzoic Acid Market Size in the Netherlands

In 2021, the Dutch benzoic acid market decreased by -94.7% to $X, falling for the second consecutive year after three years of growth. Overall, consumption continues to indicate a sharp decline. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Benzoic Acid Production in the Netherlands

In value terms, benzoic acid production declined to $X in 2021 estimated in export price. Overall, the total production indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +42.5% against 2016 indices. The pace of growth appeared the most rapid in 2013 with an increase of 34%. Over the period under review, production hit record highs at $X in 2020, and then reduced in the following year.

Benzoic Acid Exports

Exports from the Netherlands

In 2021, benzoic acid exports from the Netherlands rose modestly to X tons, surging by 3.7% compared with the previous year's figure. In general, total exports indicated a remarkable increase from 2012 to 2021: its volume 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. Based on 2021 figures, exports increased by +59.2% against 2016 indices. The most prominent rate of growth was recorded in 2020 with an increase of 46%. The exports peaked in 2021 and are likely to continue growth in the near future.

In value terms, benzoic acid exports soared to $X in 2021. Over the period under review, total exports indicated strong growth 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, exports increased by +83.0% against 2016 indices. The pace of growth was the most pronounced in 2020 when exports increased by 38%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Germany (X tons), Italy (X tons) and the United States (X tons) were the main destinations of benzoic acid exports from the Netherlands, together accounting for 36% of total exports. These countries were followed by France, Denmark, the UK, China, Japan, Mexico, Belgium, Brazil, Thailand and Spain, which together accounted for a further 41%.

From 2012 to 2021, the biggest increases were recorded for Denmark (with a CAGR of +57.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Italy ($X) and the United States ($X) were the largest markets for benzoic acid exported from the Netherlands worldwide, with a combined 35% share of total exports. These countries were followed by France, Denmark, the UK, Brazil, China, Thailand, Mexico, Japan, Spain and Belgium, which together accounted for a further 42%.

In terms of the main countries of destination, Denmark, with a CAGR of +52.1%, recorded the highest growth rate of 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

In 2021, the average benzoic acid export price amounted to $X per ton, rising by 12% against the previous year. Over the period under review, the export price, however, saw a slight slump. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Denmark ($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 Thailand (+1.1%), while the prices for the other major destinations experienced a decline.

Benzoic Acid Imports

Imports into the Netherlands

In 2021, benzoic acid imports into the Netherlands reduced remarkably to X tons, which is down by -28.1% compared with the previous year. Overall, imports continue to indicate a pronounced decline. The pace of growth was the most pronounced in 2020 when imports increased by 228% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, benzoic acid imports dropped to $X in 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 151% against the previous year. As a result, imports attained the peak of $X, and then dropped in the following year.

Imports by Country

China (X tons), Estonia (X tons) and Germany (X tons) were the main suppliers of benzoic acid imports to the Netherlands, together comprising 80% of total imports. These countries were followed by Belgium, the United States and France, which together accounted for a further 17%.

From 2012 to 2021, the biggest increases were recorded for France (with a CAGR of +27.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest benzoic acid suppliers to the Netherlands were China ($X), Estonia ($X) and the United States ($X), together comprising 69% of total imports. Germany, Belgium and France lagged somewhat behind, together accounting for a further 26%.

Among the main suppliers, France, with a CAGR of +31.0%, saw the highest rates of growth with regard to 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 benzoic acid import price amounted to $X per ton, rising by 27% against the previous year. Over the period under review, import price indicated resilient growth from 2012 to 2021: its price increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, benzoic acid import price decreased by -3.0% against 2019 indices. The growth pace was the most rapid in 2014 an increase of 29% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by Germany (+5.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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