Northern America: Phenylacetic Acid Market 2024

Phenylacetic Acid Market Size in Northern America

The North American phenylacetic acid market rose rapidly to $X in 2022, picking up by X% against the previous year. The total consumption indicated perceptible 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, consumption increased by X% against 2019 indices. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Phenylacetic Acid Production in Northern America

In value terms, phenylacetic acid production rose rapidly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Phenylacetic Acid Exports

Exports in Northern America

Phenylacetic acid exports surged to X tons in 2022, jumping by X% compared with 2021 figures. In general, exports, however, saw a pronounced reduction. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, phenylacetic acid exports surged to $X in 2022. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

The biggest shipments were from the United States (X tons), together resulting at X% of total export.

The United States was also the fastest-growing in terms of the phenylacetic acid, its salts and esters exports, with a CAGR of X% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) also remains the largest phenylacetic acid supplier in Northern America.

In the United States, phenylacetic acid exports remained relatively stable over the period from 2012-2022.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2022, falling by X% against the previous year. Export price indicated a tangible expansion from 2012 to 2022: its price 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, phenylacetic acid export price decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2019 when the export price increased by X%. Over the period under review, the export prices reached the maximum at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to X% per year.

Phenylacetic Acid Imports

Imports in Northern America

Phenylacetic acid imports reduced to X tons in 2022, dropping by X% compared with 2021 figures. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, phenylacetic acid imports expanded slightly to $X in 2022. Total imports indicated tangible 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. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.

Imports by Country

The United States prevails in imports structure, amounting to X tons, which was approx. X% of total imports in 2022. It was distantly followed by Canada (X tons), mixing up a X% share of total imports.

The United States experienced a relatively flat trend pattern with regard to volume of imports of phenylacetic acid, its salts and esters. At the same time, Canada (X%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in Northern America, with a CAGR of X% from 2012-2022. Canada (X p.p.) significantly strengthened its position in terms of the total imports, while the United States saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, the United States ($X) constitutes the largest market for imported phenylacetic acid, its salts and esters in Northern America, comprising X% of total imports. The second position in the ranking was held by Canada ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value in the United States stood at X%.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2022, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2017 when the import price increased by X%. The level of import peaked in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Canada ($X per ton), while the United States stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (X%).

Source: IndexBox Platform

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