Slovakia: Acetic Acid Market 2024

Acetic Acid Market Size in Slovakia

The Slovak acetic acid market surged to $X in 2021, increasing by 41% against the previous year. Over the period under review, the total consumption indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -20.0% against 2019 indices. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Acetic Acid Production in Slovakia

In value terms, acetic acid production soared to $X in 2021 estimated in export price. Overall, the total production indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -25.0% against 2019 indices. Acetic acid production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Acetic Acid Exports

Exports from Slovakia

In 2021, shipments abroad of acetic acid decreased by -92.4% to X kg, falling for the fourth year in a row after four years of growth. Overall, exports recorded a sharp decrease. The pace of growth appeared the most rapid in 2015 when exports increased by 43% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, acetic acid exports shrank markedly to $X in 2021. Over the period under review, exports saw a dramatic setback. The growth pace was the most rapid in 2016 with an increase of 39% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Poland (X kg), France (X kg) and Germany (X kg) were the main destinations of acetic acid exports from Slovakia.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +14.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for acetic acid exported from Slovakia were Poland ($X), France ($X) and Germany ($X).

In terms of the main countries of destination, Germany, with a CAGR of +6.4%, 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

In 2021, the average acetic acid export price amounted to $X per ton, dropping by -40.8% against the previous year. Over the period under review, the export price continues to indicate a deep setback. The growth pace was the most rapid in 2018 an increase of 61% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to France ($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 the Czech Republic (+16.8%).

Acetic Acid Imports

Imports into Slovakia

After two years of decline, purchases abroad of acetic acid increased by 179% to X tons in 2021. Over the period under review, total imports indicated perceptible growth from 2012 to 2021: its volume 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. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, acetic acid imports soared to $X in 2021. In general, imports saw a noticeable expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Austria (X tons) constituted the largest acetic acid supplier to Slovakia, accounting for a 56% share of total imports. Moreover, acetic acid imports from Austria exceeded the figures recorded by the second-largest supplier, Lithuania (X tons), threefold. Turkey (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Austria amounted to +6.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (0.0% per year) and Turkey (0.0% per year).

In value terms, the largest acetic acid suppliers to Slovakia were Austria ($X), Lithuania ($X) and Turkey ($X), together comprising 79% of total imports. France, the Czech Republic, Poland, China and Germany lagged somewhat behind, together accounting for a further 19%.

France, with a CAGR of +90.6%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average acetic acid import price stood at $X per ton in 2021, with an increase of 56% against the previous year. In general, the import price recorded a relatively flat trend pattern. As a result, import 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 supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+12.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :