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

Market Size for Formic Acid, Its Salts And Esters in Poland

The Polish market for formic acid, its salts and esters was finally on the rise to reach $X in 2021, after two years of decline. Overall, consumption continues to indicate a resilient increase. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Formic Acid, Its Salts And Esters in Poland

In value terms, production of formic acid, its salts and esters expanded significantly to $X in 2021 estimated in export price. Overall, production recorded a sharp decrease. Over the period under review, production of hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Formic Acid, Its Salts And Esters

Exports from Poland

In 2021, overseas shipments of formic acid, its salts and esters increased by 71% to X tons, rising for the second year in a row after two years of decline. In general, exports enjoyed resilient growth. The pace of growth was the most pronounced in 2017 with an increase of 115% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of formic acid, its salts and esters soared to $X in 2021. Overall, exports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 182%. Over the period under review, the exports of reached the maximum in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

Germany (X tons), Ukraine (X tons) and the Czech Republic (X tons) were the main destinations of exports of formic acid, its salts and esters from Poland, together comprising 33% of total exports. France, Italy, the Netherlands, Slovakia, Hungary, Serbia, Romania, Estonia, Austria and Belarus lagged somewhat behind, together comprising a further 51%.

From 2012 to 2021, the biggest increases were recorded for Serbia (with a CAGR of +155.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Ukraine ($X) and the Netherlands ($X) constituted the largest markets for formic acid, its salts and esters exported from Poland worldwide, with a combined 32% share of total exports. The Czech Republic, Italy, France, Austria, Slovakia, Belarus, Serbia, Hungary, Romania and Estonia lagged somewhat behind, together comprising a further 49%.

Serbia, with a CAGR of +129.4%, 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

The average export price for formic acid, its salts and esters stood at $X per ton in 2021, picking up by 31% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 45%. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Belarus ($X per ton), while the average price for exports to Slovakia ($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 Belarus (+2.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Formic Acid, Its Salts And Esters

Imports into Poland

Imports of formic acid, its salts and esters into Poland rose markedly to X tons in 2021, with an increase of 13% on 2020. Overall, imports showed a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of 30%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, imports of formic acid, its salts and esters soared to $X in 2021. In general, imports enjoyed resilient growth. Over the period under review, imports of hit record highs at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

Germany (X tons), China (X tons) and Finland (X tons) were the main suppliers of imports of formic acid, its salts and esters to Poland, together comprising 88% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +20.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), China ($X) and Finland ($X) were the largest formic acid, its salts and esters suppliers to Poland, together accounting for 87% of total imports.

China, with a CAGR of +18.1%, recorded the highest rates of growth with regard to 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

The average import price for formic acid, its salts and esters stood at $X per ton in 2021, increasing by 50% against the previous year. Over the period under review, the import price, however, saw a mild contraction. The pace of growth appeared the most rapid in 2018 an increase of 51%. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, the highest price was recorded for prices from the Netherlands ($X per ton) and Germany ($X per ton), while the price for Finland ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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