Slovakia: Adipic Acid Market 2024

Adipic Acid Market Size in Slovakia

The Slovak adipic acid market dropped to $X in 2022, which is down by -6.9% against the previous year. In general, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Adipic Acid Production in Slovakia

In value terms, adipic acid production fell to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the production volume increased by 26% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Adipic Acid Exports

Exports from Slovakia

In 2022, the amount of adipic acid, its salts and esters exported from Slovakia surged to X tons, increasing by 91% on 2021. In general, exports, however, showed a significant decline. The pace of growth appeared the most rapid in 2016 when exports increased by 43,430,500% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, adipic acid exports contracted notably to $X in 2022. Over the period under review, exports, however, continue to indicate a dramatic downturn. The pace of growth appeared the most rapid in 2016 with an increase of 94,491%. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Germany (X tons) was the main destination for adipic acid exports from Slovakia, with a 81% share of total exports. Moreover, adipic acid exports to Germany exceeded the volume sent to the second major destination, the United States (X kg), ninefold. Romania (X kg) ranked third in terms of total exports with an 8.9% share.

From 2012 to 2022, the average annual growth rate of volume to Germany stood at +123.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+272.4% per year) and Romania (-16.3% per year).

In value terms, Germany ($X) remains the key foreign market for adipic acid, its salts and esters exports from Slovakia, comprising 44% of total exports. The second position in the ranking was taken by the United States ($X), with a 15% share of total exports. It was followed by Romania, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany totaled +87.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+47.5% per year) and Romania (+0.5% per year).

Export Prices by Country

In 2022, the average adipic acid export price amounted to $X per kg, with a decrease of -64.8% against the previous year. In general, the export price, however, continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2019 an increase of 597%. Over the period under review, the average export prices attained the maximum at $X per kg in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the Czech Republic ($X per kg), while the average price for exports to Germany ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hungary (+154.2%), while the prices for the other major destinations experienced more modest paces of growth.

Adipic Acid Imports

Imports into Slovakia

In 2022, approx. X tons of adipic acid, its salts and esters were imported into Slovakia; shrinking by -16.7% against 2021 figures. In general, imports recorded a noticeable decrease. The most prominent rate of growth was recorded in 2014 when imports increased by 64% against the previous year. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, adipic acid imports dropped to $X in 2022. Over the period under review, imports recorded a noticeable reduction. The most prominent rate of growth was recorded in 2014 when imports increased by 78%. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Italy (X tons) constituted the largest adipic acid supplier to Slovakia, with a 66% share of total imports. Moreover, adipic acid imports from Italy exceeded the figures recorded by the second-largest supplier, Germany (X tons), fivefold. The third position in this ranking was taken by Austria (X tons), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Italy totaled +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-6.9% per year) and Austria (+39.0% per year).

In value terms, Italy ($X) constituted the largest supplier of adipic acid, its salts and esters to Slovakia, comprising 56% of total imports. The second position in the ranking was taken by Austria ($X), with a 14% share of total imports. It was followed by Germany, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Italy amounted to -1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+70.6% per year) and Germany (-3.2% per year).

Import Prices by Country

The average adipic acid import price stood at $X per ton in 2022, increasing by 9.5% against the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average import price increased by 52% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+22.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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