Scandinavia: Acetic Acid Market 2024

Acetic Acid Market Size in Scandinavia

In 2021, the Scandinavia acetic acid market was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +4.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Acetic Acid Production in Scandinavia

In value terms, acetic acid production surged to $X in 2021 estimated in export price. The total production indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Acetic Acid Exports

Exports in Scandinavia

Acetic acid exports rose significantly to X tons in 2021, picking up by 6.9% against the year before. The total export volume increased at an average annual rate of +1.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 when exports increased by 13%. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, acetic acid exports skyrocketed to $X in 2021. In general, exports recorded a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Denmark represented the largest exporting country with an export of around X tons, which recorded 49% of total exports. It was distantly followed by Sweden (X tons) and Norway (X tons), together constituting a 49% share of total exports. Finland (X tons) took a relatively small share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Finland (with a CAGR of +3.1%), while the other leaders experienced more modest paces of growth.

In value terms, Denmark ($X) remains the largest acetic acid supplier in Scandinavia, comprising 68% of total exports. The second position in the ranking was taken by Norway ($X), with an 18% share of total exports. It was followed by Sweden, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Denmark amounted to +13.5%. In the other countries, the average annual rates were as follows: Norway (+0.5% per year) and Sweden (-0.1% per year).

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per ton, rising by 74% against the previous year. Export price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Denmark ($X per ton), while Sweden ($X per ton) was amongst the lowest.

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

Acetic Acid Imports

Imports in Scandinavia

Acetic acid imports fell to X tons in 2021, which is down by -5.5% compared with the year before. The total import volume increased at an average annual rate of +1.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 27% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, acetic acid imports skyrocketed to $X in 2021. Over the period under review, imports, however, saw a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Sweden represented the main importer of acetic acid in Scandinavia, with the volume of imports reaching X tons, which was approx. 50% of total imports in 2021. Denmark (X tons) held the second position in the ranking, followed by Finland (X tons) and Norway (X tons). All these countries together held approx. 47% share of total imports. Iceland (X tons) held a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to acetic acid imports into Sweden stood at +1.4%. At the same time, Denmark (+7.0%) and Norway (+1.4%) displayed positive paces of growth. Moreover, Denmark emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +7.0% from 2012-2021. Iceland experienced a relatively flat trend pattern. By contrast, Finland (-2.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Denmark increased by +7.6 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest acetic acid importing markets in Scandinavia were Sweden ($X), Denmark ($X) and Finland ($X), with a combined 90% share of total imports.

Denmark, with a CAGR of +14.1%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Scandinavia amounted to $X per ton, picking up by 71% against the previous year. Import price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+10.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform