Netherlands: Market for Formic Acid, Its Salts And Esters 2024

Market Size for Formic Acid, Its Salts And Esters in the Netherlands

In 2021, the Dutch market for formic acid, its salts and esters was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, the total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +11.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Consumption of peaked in 2021 and is expected to retain growth in the near future.

Production of Formic Acid, Its Salts And Esters in the Netherlands

In value terms, production of formic acid, its salts and esters fell to $X in 2021 estimated in export price. In general, production, however, recorded significant growth. The growth pace was the most rapid in 2015 when the production volume increased by 68% against the previous year. Production of peaked at $X in 2020, and then fell in the following year.

Exports of Formic Acid, Its Salts And Esters

Exports from the Netherlands

In 2021, the amount of formic acid, its salts and esters exported from the Netherlands dropped to X tons, waning by -9.3% against 2020 figures. In general, total exports indicated a modest expansion from 2012 to 2021: its volume increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -20.1% against 2017 indices. The most prominent rate of growth was recorded in 2016 when exports increased by 47%. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of formic acid, its salts and esters expanded rapidly to $X in 2021. Over the period under review, total exports indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of 31% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X tons), Belgium (X tons) and France (X tons) were the main destinations of exports of formic acid, its salts and esters from the Netherlands, together comprising 62% of total exports. Spain, the United States, Austria, Poland, Algeria, the UK, Italy, Vietnam and Denmark lagged somewhat behind, together comprising a further 23%.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +121.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Belgium ($X) and France ($X) appeared to be the largest markets for formic acid, its salts and esters exported from the Netherlands worldwide, with a combined 56% share of total exports. Spain, the United States, Austria, Poland, the UK, Algeria, Italy, Vietnam and Denmark lagged somewhat behind, together accounting for a further 26%.

Vietnam, with a CAGR of +119.4%, saw the highest growth rate of the value of exports, among the main countries of destination 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 export price for formic acid, its salts and esters amounted to $X per ton, with an increase of 26% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 30% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major export markets. In 2021, the highest price was recorded for prices to the United States ($X per ton) and Poland ($X per ton), while the average price for exports to Belgium ($X per ton) and Germany ($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 the United States (+6.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Formic Acid, Its Salts And Esters

Imports into the Netherlands

In 2021, purchases abroad of formic acid, its salts and esters was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, total imports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +7.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 46%. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, imports of formic acid, its salts and esters skyrocketed to $X in 2021. Overall, total imports indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports of attained the maximum at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

Finland (X tons), China (X tons) and Germany (X tons) were the main suppliers of imports of formic acid, its salts and esters to the Netherlands, with a combined 73% share of total imports. These countries were followed by Sweden and Belgium, which together accounted for a further 25%.

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

In value terms, China ($X), Finland ($X) and Germany ($X) constituted the largest formic acid, its salts and esters suppliers to the Netherlands, with a combined 66% share of total imports. These countries were followed by Belgium and Sweden, which together accounted for a further 30%.

Sweden, with a CAGR of +22.6%, saw the highest rates of growth with regard to the value of imports, among the main suppliers 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 import price for formic acid, its salts and esters amounted to $X per ton, rising by 26% against the previous year. Over the period under review, the import price, however, continues to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2018 an increase of 27%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (-0.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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