Romania: Adipic Acid Market 2024

Adipic Acid Market Size in Romania

The Romanian adipic acid market declined sharply to $X in 2022, with a decrease of -24.5% 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 recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then declined notably in the following year.

Adipic Acid Exports

Exports from Romania

Adipic acid exports from Romania contracted markedly to X tons in 2022, with a decrease of -29.1% compared with 2021. Overall, exports, however, saw a significant expansion. The pace of growth appeared the most rapid in 2019 with an increase of 4,084%. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, adipic acid exports fell dramatically to $X in 2022. Over the period under review, exports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2019 when exports increased by 2,695%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Germany (X tons) was the main destination for adipic acid exports from Romania, accounting for a 97% share of total exports. It was followed by Italy (X kg), with a 2.7% share of total exports.

From 2013 to 2022, the average annual rate of growth in terms of volume to Germany amounted to -27.3%.

In value terms, Germany ($X) remains the key foreign market for adipic acid, its salts and esters exports from Romania, comprising 69% of total exports. The second position in the ranking was taken by Italy ($X), with a 31% share of total exports.

From 2013 to 2022, the average annual growth rate of value to Germany amounted to -33.0%.

Export Prices by Country

The average adipic acid export price stood at $X per ton in 2022, shrinking by -3.9% against the previous year. Over the period under review, the export price saw a deep setback. The most prominent rate of growth was recorded in 2020 when the average export price increased by 24%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

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 Italy ($X per ton), while the average price for exports to Germany amounted to $X per ton.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bulgaria (+30.8%).

Adipic Acid Imports

Imports into Romania

Adipic acid imports into Romania contracted sharply to X tons in 2022, reducing by -34.8% on the previous year. Overall, imports continue to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2021 with an increase of 37% against the previous year. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, adipic acid imports shrank sharply to $X in 2022. In general, total imports indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +101.8% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 145% against the previous year. As a result, imports reached the peak of $X, and then declined rapidly in the following year.

Imports by Country

In 2022, Poland (X tons) constituted the largest supplier of adipic acid to Romania, accounting for a 49% share of total imports. Moreover, adipic acid imports from Poland exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. France (X tons) ranked third in terms of total imports with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Poland totaled +11.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-13.4% per year) and France (-6.5% per year).

In value terms, Poland ($X) constituted the largest supplier of adipic acid, its salts and esters to Romania, comprising 47% of total imports. The second position in the ranking was held by Germany ($X), with a 22% share of total imports. It was followed by France, with a 14% share.

From 2012 to 2022, the average annual growth rate of value from Poland totaled +12.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-8.1% per year) and France (-2.3% per year).

Import Prices by Country

The average adipic acid import price stood at $X per ton in 2022, jumping by 26% against the previous year. Over the period under review, import price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, adipic acid import price increased by +126.4% against 2020 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by 80% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Italy ($X per ton) and Germany ($X per ton), while the price for Poland ($X per ton) and France ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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