Romania: Salicylic Acid Market 2024

Salicylic Acid Market Size in Romania

The Romanian salicylic acid market skyrocketed to $X in 2021, with an increase of 53% against the previous year. In general, consumption recorded a measured expansion. Salicylic acid consumption peaked in 2021 and is likely to see steady growth in the immediate term.

Salicylic Acid Production in Romania

In value terms, salicylic acid production shrank to $X in 2021 estimated in export price. Over the period under review, the total production indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +64.9% against 2015 indices. The pace of growth was the most pronounced in 2019 when the production volume increased by 40% against the previous year. Salicylic acid production peaked at $X in 2020, and then dropped in the following year.

Salicylic Acid Exports

Exports from Romania

In 2021, the amount of salicylic acid and its salts exported from Romania fell remarkably to X kg, with a decrease of -26% compared with 2020. Overall, exports continue to indicate a sharp curtailment. The pace of growth was the most pronounced in 2014 with an increase of 40%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, salicylic acid exports contracted remarkably to $X in 2021. Over the period under review, exports saw a sharp reduction. The most prominent rate of growth was recorded in 2014 with an increase of 55%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Bulgaria (X kg), the UK (X kg) and Greece (X kg) were the main destinations of salicylic acid exports from Romania.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Moldova (with a CAGR of -21.7%), while the other leaders experienced a decline.

In value terms, Bulgaria ($X), Greece ($X) and the UK ($X) appeared to be the largest markets for salicylic acid exported from Romania worldwide, together accounting for 88% of total exports. These countries were followed by Moldova and Italy, which together accounted for a further 12%.

Among the main countries of destination, Moldova, with a CAGR of -8.4%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average salicylic acid export price stood at $X per ton in 2021, which is down by -4.4% against the previous year. In general, the export price, however, saw a strong expansion. The most prominent rate of growth was recorded in 2019 when the average export price increased by 78%. The export price peaked at $X per ton in 2020, and then fell in the following year.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to the UK ($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 Italy (+19.0%), while the prices for the other major destinations experienced more modest paces of growth.

Salicylic Acid Imports

Imports into Romania

In 2021, supplies from abroad of salicylic acid and its salts increased by 133% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, imports, however, faced a drastic downturn. The pace of growth was the most pronounced in 2014 when imports increased by 173% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, salicylic acid imports soared to $X in 2021. In general, imports, however, recorded a noticeable shrinkage. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the Netherlands (X tons) constituted the largest supplier of salicylic acid to Romania, accounting for a 60% share of total imports. Moreover, salicylic acid imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Poland (X tons), fivefold. The third position in this ranking was held by China (X tons), with an 8.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the Netherlands stood at +160.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+49.7% per year) and China (-8.3% per year).

In value terms, the Netherlands ($X), Poland ($X) and Hungary ($X) appeared to be the largest salicylic acid suppliers to Romania, with a combined 89% share of total imports.

The Netherlands, with a CAGR of +156.9%, 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

In 2021, the average salicylic acid import price amounted to $X per ton, approximately equating the previous year. In general, the import price, however, showed a buoyant expansion. The most prominent rate of growth was recorded in 2019 when the average import price increased by 102%. Over the period under review, average import prices reached the peak figure at $X per ton in 2020, and then declined modestly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Poland ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+12.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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