Switzerland: Monocarboxylic Acid Market 2024

Monocarboxylic Acid Market Size in Switzerland

In 2022, the Swiss monocarboxylic acid market increased by 1.6% to $X, rising for the second consecutive year after two years of decline. Overall, the total consumption indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +12.4% against 2020 indices. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Monocarboxylic Acid Production in Switzerland

In value terms, monocarboxylic acid production contracted slightly to $X in 2022 estimated in export price. Over the period under review, production, however, posted a tangible expansion. The most prominent rate of growth was recorded in 2018 when the production volume increased by 85% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Monocarboxylic Acid Exports

Exports from Switzerland

After three years of growth, shipments abroad of acrylic acid and its salts and other monocarboxylic acid decreased by -4.8% to X tons in 2022. In general, exports, however, saw a resilient expansion. The growth pace was the most rapid in 2019 when exports increased by 34% against the previous year. The exports peaked at X tons in 2021, and then declined modestly in the following year.

In value terms, monocarboxylic acid exports reduced to $X in 2022. The total export value increased at an average annual rate of +3.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 19%. The exports peaked at $X in 2021, and then contracted in the following year.

Exports by Country

Germany (X tons), Singapore (X tons) and France (X tons) were the main destinations of monocarboxylic acid exports from Switzerland, with a combined 64% share of total exports. The UK, the United States, Italy, India, China, Austria, the Netherlands, Brazil and Indonesia lagged somewhat behind, together comprising a further 32%.

From 2012 to 2022, the biggest increases were recorded for Austria (with a CAGR of +83.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for monocarboxylic acid exported from Switzerland were Singapore ($X), Germany ($X) and the United States ($X), together comprising 45% of total exports. France, China, India, the UK, Brazil, Indonesia, the Netherlands, Austria and Italy lagged somewhat behind, together accounting for a further 45%.

Austria, with a CAGR of +72.0%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average monocarboxylic acid export price stood at $X per ton in 2022, with an increase of 2.5% against the previous year. In general, the export price, however, recorded a pronounced slump. The most prominent rate of growth was recorded in 2018 an increase of 24%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to Italy ($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 France (+6.2%), while the prices for the other major destinations experienced more modest paces of growth.

Monocarboxylic Acid Imports

Imports into Switzerland

In 2022, the amount of acrylic acid and its salts and other monocarboxylic acid imported into Switzerland stood at X tons, increasing by 11% on the previous year. The total import volume increased at an average annual rate of +4.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when imports increased by 24% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, monocarboxylic acid imports skyrocketed to $X in 2022. In general, imports saw a resilient expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

India (X tons), China (X tons) and Germany (X tons) were the main suppliers of monocarboxylic acid imports to Switzerland, together accounting for 82% of total imports. The Netherlands, France and Spain lagged somewhat behind, together comprising a further 13%.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +29.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), China ($X) and Spain ($X) were the largest monocarboxylic acid suppliers to Switzerland, with a combined 79% share of total imports. Germany, France and the Netherlands lagged somewhat behind, together comprising a further 12%.

The Netherlands, with a CAGR of +34.7%, recorded the highest rates of growth with regard to 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

In 2022, the average monocarboxylic acid import price amounted to $X per ton, jumping by 22% against the previous year. Over the last decade, it increased at an average annual rate of +4.2%. The growth pace was the most rapid in 2018 when the average import price increased by 29%. The import price peaked in 2022 and is expected to retain 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 Spain ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+4.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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