Switzerland: Benzoic Acid Market 2024

Benzoic Acid Market Size in Switzerland

For the third year in a row, the Swiss benzoic acid market recorded growth in sales value, which increased by 22% to $X in 2021. In general, consumption recorded a buoyant expansion. Benzoic acid consumption peaked in 2021 and is likely to continue growth in the near future.

Benzoic Acid Exports

Exports from Switzerland

After six years of decline, overseas shipments of benzoic acid, its salts and esters increased by 57% to X tons in 2021. In general, exports, however, showed a significant decrease. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, benzoic acid exports totaled $X in 2021. Over the period under review, exports, however, continue to indicate a noticeable descent. The most prominent rate of growth was recorded in 2014 with an increase of 416% against the previous year. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Germany (X tons), the UK (X tons) and the United States (X tons) were the main destinations of benzoic acid exports from Switzerland, with a combined 62% share of total exports. These countries were followed by Singapore, China, France, Brazil, Italy and Poland, which together accounted for a further 28%.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +35.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Germany ($X) and China ($X) were the largest markets for benzoic acid exported from Switzerland worldwide, together comprising 54% of total exports.

Among the main countries of destination, China, with a CAGR of +24.1%, recorded the highest rates of growth with regard to 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

The average benzoic acid export price stood at $X per ton in 2021, with a decrease of -33.1% against the previous year. Over the period under review, the export price, however, posted a significant expansion. The pace of growth was the most pronounced in 2014 an increase of 399%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Poland ($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 Finland (+19.4%), while the prices for the other major destinations experienced more modest paces of growth.

Benzoic Acid Imports

Imports into Switzerland

In 2021, supplies from abroad of benzoic acid, its salts and esters increased by 15% to X tons, rising for the second consecutive year after three years of decline. In general, total imports indicated perceptible growth from 2012 to 2021: its volume increased at an average annual rate of +2.1% 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 increased by +52.6% against 2019 indices. The pace of growth was the most pronounced in 2016 with an increase of 70% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, benzoic acid imports surged to $X in 2021. Overall, total imports indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +50.1% against 2018 indices. The most prominent rate of growth was recorded in 2016 with an increase of 65% against the previous year. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the Netherlands (X tons) constituted the largest supplier of benzoic acid to Switzerland, accounting for a 60% share of total imports. Moreover, benzoic acid imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Germany (X tons), fivefold. India (X tons) ranked third in terms of total imports with a 6.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the Netherlands totaled +6.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.4% per year) and India (+22.7% per year).

In value terms, France ($X) constituted the largest supplier of benzoic acid, its salts and esters to Switzerland, comprising 45% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 22% share of total imports. It was followed by Germany, with a 9.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from France amounted to +5.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+3.4% per year) and Germany (+4.3% per year).

Import Prices by Country

The average benzoic acid import price stood at $X per ton in 2021, growing by 12% against the previous year. In general, import price indicated a modest expansion from 2012 to 2021: its price increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, benzoic acid import price decreased by -2.2% against 2019 indices. The most prominent rate of growth was recorded in 2017 an increase of 64% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+16.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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