Russian Federation: Adipic Acid Market 2024

Adipic Acid Market Size in the Russian Federation

The Russian adipic acid market dropped to $X in 2022, waning by -6.6% against the previous year. In general, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Adipic Acid Production in the Russian Federation

In value terms, adipic acid production fell to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the production volume increased by 26% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Adipic Acid Exports

Exports from the Russian Federation

In 2021, exports of adipic acid, its salts and esters from Russia reduced remarkably to X tons, with a decrease of -35.1% against the previous year. Over the period under review, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 545%. Over the period under review, the exports hit record highs at X tons in 2020, and then plummeted in the following year.

In value terms, adipic acid exports stood at $X in 2021. Overall, exports, however, recorded a significant increase. The growth pace was the most rapid in 2017 when exports increased by 325% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Belarus (X tons) was the main destination for adipic acid exports from Russia, accounting for a 71% share of total exports. Moreover, adipic acid exports to Belarus exceeded the volume sent to the second major destination, Serbia (X tons), fourfold. Kazakhstan (X tons) ranked third in terms of total exports with an 8% share.

From 2012 to 2021, the average annual growth rate of volume to Belarus totaled +71.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (+111.5% per year) and Kazakhstan (+73.6% per year).

In value terms, Belarus ($X) remains the key foreign market for adipic acid, its salts and esters exports from Russia, comprising 68% of total exports. The second position in the ranking was held by Serbia ($X), with a 17% share of total exports. It was followed by Kazakhstan, with an 8.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Belarus amounted to +75.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (+128.2% per year) and Kazakhstan (+72.6% per year).

Export Prices by Country

In 2021, the average adipic acid export price amounted to $X per ton, rising by 71% against the previous year. Over the period under review, the export price, however, recorded a noticeable slump. The most prominent rate of growth was recorded in 2015 when the average export price increased by 81%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ukraine ($X per ton), while the average price for exports to Serbia ($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 Serbia (+7.9%), while the prices for the other major destinations experienced more modest paces of growth.

Adipic Acid Imports

Imports into the Russian Federation

In 2022, adipic acid imports into Russia reduced to X tons, shrinking by -5.3% against the previous year's figure. In general, imports, however, showed a resilient expansion. The growth pace was the most rapid in 2017 with an increase of 93%. Over the period under review, imports hit record highs at X tons in 2021, and then fell in the following year.

In value terms, adipic acid imports contracted rapidly to $X in 2022. Over the period under review, imports, however, continue to indicate a resilient expansion. The pace of growth appeared the most rapid in 2017 when imports increased by 96%. Over the period under review, imports reached the peak figure at $X in 2021, and then dropped sharply in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest adipic acid supplier to Russia, accounting for a 86% share of total imports. Moreover, adipic acid imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), sixfold. The third position in this ranking was held by Poland (X tons), with a 0.1% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +47.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-1.8% per year) and Poland (-33.5% per year).

In value terms, China ($X) constituted the largest supplier of adipic acid, its salts and esters to Russia, comprising 83% of total imports. The second position in the ranking was taken by Germany ($X), with a 17% share of total imports. It was followed by Poland, with a 0.2% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +42.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-3.4% per year) and Poland (-30.9% per year).

Import Prices by Country

In 2022, the average adipic acid import price amounted to $X per ton, which is down by -19.8% against the previous year. In general, the import price showed a noticeable setback. The pace of growth appeared the most rapid in 2021 an increase of 72%. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+58.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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