Slovenia: Market for Salts Of Acetic Acid 2024

Market Size for Salts Of Acetic Acid in Slovenia

In 2022, the Slovene salts of acetic acid market increased by 552% to $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption recorded a resilient expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Salts Of Acetic Acid in Slovenia

In value terms, salts of acetic acid production reached $X in 2022 estimated in export price. Overall, the total production indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -5.2% against 2018 indices. The pace of growth was the most pronounced in 2016 when the production volume increased by 53% against the previous year. Salts of acetic acid production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Exports of Salts Of Acetic Acid

Exports from Slovenia

After two years of growth, shipments abroad of salts of acetic acid decreased by -15.3% to X tons in 2022. Overall, total exports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 with an increase of 57%. Over the period under review, the exports hit record highs at X tons in 2021, and then reduced markedly in the following year.

In value terms, salts of acetic acid exports expanded markedly to $X in 2022. In general, exports, however, saw prominent growth. The growth pace was the most rapid in 2016 with an increase of 52% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Italy (X tons) was the main destination for salts of acetic acid exports from Slovenia, with a 78% share of total exports. Moreover, salts of acetic acid exports to Italy exceeded the volume sent to the second major destination, Belgium (X tons), eightfold. Spain (X tons) ranked third in terms of total exports with a 3.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Italy totaled +11.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+10.8% per year) and Spain (+11.4% per year).

In value terms, Italy ($X) remains the key foreign market for salts of acetic acid exports from Slovenia, comprising 75% of total exports. The second position in the ranking was taken by Belgium ($X), with a 9.7% share of total exports. It was followed by the Czech Republic, with a 4.9% share.

From 2012 to 2022, the average annual growth rate of value to Italy stood at +16.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+17.8% per year) and the Czech Republic (+9.5% per year).

Export Prices by Country

The average salts of acetic acid export price stood at $X per ton in 2022, rising by 26% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.6%. 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 for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while the average price for exports to Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+6.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Salts Of Acetic Acid

Imports into Slovenia

Salts of acetic acid imports into Slovenia dropped to X tons in 2022, with a decrease of -6.8% compared with the previous year's figure. In general, imports recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2017 when imports increased by 89% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, salts of acetic acid imports surged to $X in 2022. Overall, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 66%. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Germany (X tons), the Netherlands (X tons) and Italy (X tons) were the main suppliers of salts of acetic acid imports to Slovenia, with a combined 75% share of total imports. France, China, Austria, the United States and Belgium lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +75.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of salts of acetic acid to Slovenia, comprising 45% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 16% share of total imports. It was followed by Italy, with a 16% share.

From 2012 to 2022, the average annual growth rate of value from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+28.7% per year) and Italy (+13.2% per year).

Import Prices by Country

The average salts of acetic acid import price stood at $X per ton in 2022, jumping by 27% against the previous year. Over the period under review, the import price enjoyed a strong expansion. The pace of growth was the most pronounced in 2018 an increase of 27%. The import price peaked in 2022 and is likely to see gradual growth in years to come.

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 Germany ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+13.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform