Poland: Benzoic Acid Market 2024

Benzoic Acid Market Size in Poland

The Polish benzoic acid market surged to $X in 2021, jumping by 24% against the previous year. In general, the total consumption indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +74.5% against 2015 indices. Over the period under review, the market attained the peak level in 2021 and is likely to see gradual growth in the near future.

Benzoic Acid Production in Poland

In value terms, benzoic acid production reduced rapidly to $X in 2021 estimated in export price. Overall, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 73%. As a result, production attained the peak level of $X, and then contracted sharply in the following year.

Benzoic Acid Exports

Exports from Poland

In 2021, after three years of decline, there was significant growth in shipments abroad of benzoic acid, its salts and esters, when their volume increased by 11% to X tons. The total export volume increased at an average annual rate of +2.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 when exports increased by 49%. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, benzoic acid exports surged to $X in 2021. The total export value increased at an average annual rate of +3.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 when exports increased by 35% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Russia (X tons), Ukraine (X tons) and Germany (X tons) were the main destinations of benzoic acid exports from Poland, with a combined 52% share of total exports. These countries were followed by Switzerland, Hungary, the Czech Republic, Italy, Lithuania, Romania, Slovakia, the UK and Finland, which together accounted for a further 35%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +38.3%), while the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Ukraine ($X) and Germany ($X) appeared to be the largest markets for benzoic acid exported from Poland worldwide, with a combined 46% share of total exports. These countries were followed by Switzerland, the Czech Republic, Italy, Hungary, Lithuania, Slovakia, Romania, Finland and the UK, which together accounted for a further 36%.

In terms of the main countries of destination, the UK, with a CAGR of +37.1%, recorded the highest rates of growth with regard to 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, with an increase of 7.9% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average export price increased by 17% against the previous year. The export price peaked at $X per ton in 2014; afterwards, it flattened through to 2021.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Russia ($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 Finland (+7.0%), while the prices for the other major destinations experienced more modest paces of growth.

Benzoic Acid Imports

Imports into Poland

In 2021, supplies from abroad of benzoic acid, its salts and esters increased by 13% to X tons, rising for the second year in a row after three years of decline. The total import volume increased at an average annual rate of +3.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2016 with an increase of 34%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the near future.

In value terms, benzoic acid imports soared to $X in 2021. Over the period under review, total imports indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +23.3% against 2018 indices. The most prominent rate of growth was recorded in 2013 with an increase of 33%. Over the period under review, imports reached the peak figure in 2021 and are likely to continue growth in the immediate term.

Imports by Country

The Netherlands (X tons), China (X tons) and Romania (X tons) were the main suppliers of benzoic acid imports to Poland, with a combined 77% share of total imports. These countries were followed by Estonia, Israel, Germany and Italy, which together accounted for a further 22%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Israel (with a CAGR of +58.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest benzoic acid suppliers to Poland were the Netherlands ($X), China ($X) and Germany ($X), with a combined 71% share of total imports. Italy, Romania, Estonia and Israel lagged somewhat behind, together comprising a further 25%.

Israel, with a CAGR of +57.4%, 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

In 2021, the average benzoic acid import price amounted to $X per ton, with an increase of 18% against the previous year. Overall, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average import price increased by 20%. Over the period under review, average import prices hit record highs at $X per ton in 2013; afterwards, it flattened through to 2021.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Romania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+1.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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