Romania: Carboxylic Acid Market 2024

Carboxylic Acid Market Size in Romania

After three years of growth, the Romanian carboxylic acid market decreased by -9.9% to $X in 2021. Overall, the total consumption indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Carboxylic acid consumption peaked at $X in 2020, and then contracted in the following year.

Carboxylic Acid Exports

Exports from Romania

Carboxylic acid exports from Romania rose significantly to X tons in 2021, with an increase of 11% against the previous year's figure. Overall, total exports indicated tangible growth from 2012 to 2021: its volume increased at an average annual rate of +3.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -26.1% against 2019 indices. The pace of growth was the most pronounced in 2013 when exports increased by 54%. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, carboxylic acid exports contracted to $X in 2021. Over the period under review, exports continue to indicate resilient growth. The pace of growth was the most pronounced in 2018 when exports increased by 165%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Moldova (X tons) was the main destination for carboxylic acid exports from Romania, with a 83% share of total exports. Moreover, carboxylic acid exports to Moldova exceeded the volume sent to the second major destination, Germany (X tons), more than tenfold. The third position in this ranking was held by Bulgaria (X tons), with a 6.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Moldova stood at +4.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+37.8% per year) and Bulgaria (-1.7% per year).

In value terms, the largest markets for carboxylic acid exported from Romania were Germany ($X), Moldova ($X) and Bulgaria ($X), with a combined 97% share of total exports.

Germany, with a CAGR of +53.1%, recorded 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

In 2021, the average carboxylic acid export price amounted to $X per ton, shrinking by -18.9% against the previous year. In general, the export price, however, recorded measured growth. The growth pace was the most rapid in 2018 an increase of 159% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Germany ($X per ton), while the average price for exports to Greece ($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 Croatia (+11.8%), while the prices for the other major destinations experienced more modest paces of growth.

Carboxylic Acid Imports

Imports into Romania

After four years of growth, overseas purchases of carboxylic acid with alcohol, phenol, aldehyde or ketone functions decreased by less than 0.1% to X tons in 2021. The total import volume increased at an average annual rate of +3.6% 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 2018 when imports increased by 15% against the previous year. Imports peaked at X tons in 2020, and then shrank modestly in the following year.

In value terms, carboxylic acid imports shrank to $X in 2021. In general, total imports indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of 36%. Imports peaked at $X in 2020, and then contracted in the following year.

Imports by Country

France (X tons), the Netherlands (X tons) and Italy (X tons) were the main suppliers of carboxylic acid imports to Romania, together accounting for 68% of total imports. Germany, China, Belgium, Austria, Denmark, Mexico, Bulgaria, South Korea and Spain lagged somewhat behind, together comprising a further 27%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +195.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest carboxylic acid suppliers to Romania were Italy ($X), the Netherlands ($X) and France ($X), together comprising 51% of total imports. These countries were followed by Germany, China, Belgium, Denmark, Austria, Mexico, Spain, Bulgaria and South Korea, which together accounted for a further 35%.

In terms of the main suppliers, South Korea, with a CAGR of +118.6%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average carboxylic acid import price stood at $X per ton in 2021, with a decrease of -14.4% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 18% against the previous year. The import price peaked at $X per ton in 2020, and then declined in the following year.

Prices varied noticeably country of origin: the country with the highest price was Italy ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+5.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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