Russian Federation: Carboxylic Acid Market 2024

Carboxylic Acid Market Size in the Russian Federation

The Russian carboxylic acid market surged to $X in 2021, jumping by 27% 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 continues to indicate a buoyant expansion. Carboxylic acid consumption peaked in 2021 and is likely to see steady growth in the immediate term.

Carboxylic Acid Exports

Exports from the Russian Federation

In 2021, the amount of carboxylic acid with alcohol, phenol, aldehyde or ketone functions exported from Russia reached X tons, surging by 14% against the previous year's figure. Over the period under review, exports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2015 with an increase of 49% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in years to come.

In value terms, carboxylic acid exports surged to $X in 2021. Overall, total exports indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +94.9% against 2018 indices. The growth pace was the most rapid in 2015 with an increase of 52% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

Kazakhstan (X tons), Belarus (X tons) and Estonia (X tons) were the main destinations of carboxylic acid exports from Russia, with a combined 79% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Estonia (with a CAGR of +234.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for carboxylic acid exported from Russia were Kazakhstan ($X), Belarus ($X) and Estonia ($X), together accounting for 77% of total exports.

In terms of the main countries of destination, Estonia, with a CAGR of +219.9%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average carboxylic acid export price stood at $X per ton in 2021, surging by 15% against the previous year. Overall, the export price, however, continues to indicate a abrupt decline. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major export markets. In 2021, the highest price was recorded for prices to Estonia ($X per ton) and Germany ($X per ton), while the average price for exports to Kazakhstan ($X per ton) and Ukraine ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Ukraine (+4.9%), while the prices for the other major destinations experienced a decline.

Carboxylic Acid Imports

Imports into the Russian Federation

In 2021, purchases abroad of carboxylic acid with alcohol, phenol, aldehyde or ketone functions increased by 10% to X tons, rising for the seventh year in a row after two years of decline. Overall, total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +6.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +121.8% against 2014 indices. The pace of growth appeared the most rapid in 2015 when imports increased by 24%. Imports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, carboxylic acid imports soared to $X in 2021. Over the period under review, imports saw a strong expansion. The growth pace was the most rapid in 2019 when imports increased by 46%. Imports peaked in 2021 and are likely to see gradual growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of carboxylic acid to Russia, accounting for a 70% share of total imports. Moreover, carboxylic acid imports from China exceeded the figures recorded by the second-largest supplier, Italy (X tons), more than tenfold. The third position in this ranking was taken by the Netherlands (X tons), with a 4.4% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +10.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+6.5% per year) and the Netherlands (-1.2% per year).

In value terms, China ($X) constituted the largest supplier of carboxylic acid with alcohol, phenol, aldehyde or ketone functions to Russia, comprising 51% of total imports. The second position in the ranking was held by Italy ($X), with a 20% share of total imports. It was followed by India, with an 8% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +11.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+17.3% per year) and India (+38.5% per year).

Import Prices by Country

In 2021, the average carboxylic acid import price amounted to $X per ton, increasing by 20% against the previous year. Over the period under review, import price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, carboxylic acid import price decreased by -8.8% against 2019 indices. The most prominent rate of growth was recorded in 2019 an increase of 35%. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+10.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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