Slovakia: Carboxylic Acid Market 2024

Carboxylic Acid Market Size in Slovakia

The Slovak carboxylic acid market surged to $X in 2021, picking up by 39% against the previous year. Over the period under review, consumption saw a strong expansion. Over the period under review, the market attained the maximum level in 2021 and is likely to see steady growth in years to come.

Carboxylic Acid Production in Slovakia

In value terms, carboxylic acid production reduced to $X in 2021 estimated in export price. In general, the total production indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +6.0% 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 -21.1% against 2018 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 49% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Carboxylic Acid Exports

Exports from Slovakia

In 2021, shipments abroad of carboxylic acid with alcohol, phenol, aldehyde or ketone functions increased by 17% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, total exports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +5.2% 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 +19.1% against 2019 indices. The pace of growth appeared the most rapid in 2014 when exports increased by 55%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, carboxylic acid exports soared to $X in 2021. In general, exports continue to indicate prominent growth. The pace of growth appeared the most rapid in 2014 with an increase of 84%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

The Netherlands (X tons) was the main destination for carboxylic acid exports from Slovakia, accounting for a 55% share of total exports. Moreover, carboxylic acid exports to the Netherlands exceeded the volume sent to the second major destination, Germany (X tons), twofold. Poland (X tons) ranked third in terms of total exports with a 7.8% share.

From 2012 to 2021, the average annual growth rate of volume to the Netherlands stood at +1.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+12.5% per year) and Poland (+20.1% per year).

In value terms, the Netherlands ($X) remains the key foreign market for carboxylic acid with alcohol, phenol, aldehyde or ketone functions exports from Slovakia, comprising 43% of total exports. The second position in the ranking was held by Germany ($X), with a 19% share of total exports. It was followed by Japan, with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the Netherlands stood at +2.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+10.7% per year) and Japan (+87.1% per year).

Export Prices by Country

In 2021, the average carboxylic acid export price amounted to $X per ton, surging by 26% against the previous year. Over the last nine years, it increased at an average annual rate of +2.9%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Japan ($X per ton), while the average price for exports to Poland ($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 Italy (+16.8%), while the prices for the other major destinations experienced more modest paces of growth.

Carboxylic Acid Imports

Imports into Slovakia

In 2021, carboxylic acid imports into Slovakia amounted to X tons, surging by 10% against the previous year. In general, total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +8.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -3.6% against 2019 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 47% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, carboxylic acid imports soared to $X in 2021. Over the period under review, total imports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +8.8% 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.

Imports by Country

France (X tons), the Netherlands (X tons) and China (X tons) were the main suppliers of carboxylic acid imports to Slovakia, with a combined 53% share of total imports. The Czech Republic, Germany, Spain, Belgium, Italy, Poland, Switzerland and India lagged somewhat behind, together accounting for a further 41%.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +45.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest carboxylic acid suppliers to Slovakia were China ($X), the Czech Republic ($X) and the Netherlands ($X), with a combined 44% share of total imports. These countries were followed by Germany, Spain, Belgium, France, Italy, Poland, Switzerland and India, which together accounted for a further 46%.

In terms of the main suppliers, Belgium, with a CAGR of +60.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average carboxylic acid import price stood at $X per ton in 2021, growing by 28% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, 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 India ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+20.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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