Portugal: Market for Salts Of Acetic Acid 2024

Market Size for Salts Of Acetic Acid in Portugal

The Portuguese salts of acetic acid market fell slightly to $X in 2022, shrinking by -4.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw a slight slump. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Exports of Salts Of Acetic Acid

Exports from Portugal

In 2022, approx. X tons of salts of acetic acid were exported from Portugal; with an increase of 171% against 2021. Overall, exports posted prominent growth. The most prominent rate of growth was recorded in 2015 when exports increased by 1,168%. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, salts of acetic acid exports skyrocketed to $X in 2022. Over the period under review, exports enjoyed prominent growth. The most prominent rate of growth was recorded in 2015 when exports increased by 1,231%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Spain (X tons) was the main destination for salts of acetic acid exports from Portugal, with a 94% share of total exports. It was followed by the UK (X tons), with a 3% share of total exports. The third position in this ranking was taken by Mozambique (X kg), with a 1.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Spain stood at +26.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+75.7% per year) and Mozambique (+5.3% per year).

In value terms, Spain ($X) remains the key foreign market for salts of acetic acid exports from Portugal, comprising 69% of total exports. The second position in the ranking was held by Mozambique ($X), with a 5.7% share of total exports. It was followed by the UK, with a 4.9% share.

From 2012 to 2022, the average annual growth rate of value to Spain amounted to +19.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mozambique (+14.2% per year) and the UK (+80.2% per year).

Export Prices by Country

In 2022, the average salts of acetic acid export price amounted to $X per ton, declining by -35.3% against the previous year. In general, the export price recorded a deep slump. The pace of growth appeared the most rapid in 2020 an increase of 440% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Mozambique ($X per ton), while the average price for exports to Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mozambique (+8.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Salts Of Acetic Acid

Imports into Portugal

In 2022, approx. X tons of salts of acetic acid were imported into Portugal; falling by -20.3% compared with the previous year's figure. Overall, imports showed a noticeable slump. The pace of growth was the most pronounced in 2021 with an increase of 52%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, salts of acetic acid imports expanded sharply to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by 185%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Spain (X tons), South Korea (X tons) and the Netherlands (X tons) were the main suppliers of salts of acetic acid imports to Portugal, together accounting for 87% of total imports. India, Italy, the UK, Germany and China lagged somewhat behind, together accounting for a further 13%.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +47.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X) constituted the largest supplier of salts of acetic acid to Portugal, comprising 57% of total imports. The second position in the ranking was taken by Spain ($X), with a 25% share of total imports. It was followed by the Netherlands, with a 5.3% share.

From 2012 to 2022, the average annual growth rate of value from South Korea amounted to +10.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+7.5% per year) and the Netherlands (+3.8% per year).

Import Prices by Country

The average salts of acetic acid import price stood at $X per ton in 2022, picking up by 39% against the previous year. Overall, the import price recorded a measured expansion. The pace of growth was the most pronounced in 2017 an increase of 93%. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+19.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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