U.S.: Odoriferous Substance Mixture Market 2024

Odoriferous Substance Mixture Market Size in the U.S.

The U.S. odoriferous substance mixture market amounted to $X in 2022, rising by 8.5% against the previous year. The market value increased at an average annual rate of +4.3% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Odoriferous Substance Mixture Production in the U.S.

In value terms, odoriferous substance mixture production amounted to $X in 2022. The total output value increased at an average annual rate of +2.9% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2013 with an increase of 20% against the previous year. Odoriferous substance mixture production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Odoriferous Substance Mixture Exports

Exports from the U.S.

In 2022, overseas shipments of mixtures of odoriferous substances and their preparations decreased by -6.9% to X tons for the first time since 2016, thus ending a five-year rising trend. The total export volume increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 11% against the previous year. As a result, the exports reached the peak of X tons, and then shrank in the following year.

In value terms, odoriferous substance mixture exports reached $X in 2022. The total export value increased at an average annual rate of +4.1% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 16%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in years to come.

Exports by Country

Canada (X tons), Mexico (X tons) and the Netherlands (X tons) were the main destinations of odoriferous substance mixture exports from the United States, with a combined 44% share of total exports. Germany, Ireland, Brazil, Japan, China, Vietnam and the Philippines lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +21.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for odoriferous substance mixture exported from the United States were Canada ($X), Mexico ($X) and Ireland ($X), together comprising 47% of total exports. The Netherlands, Germany, Brazil, China, Japan, the Philippines and Vietnam lagged somewhat behind, together comprising a further 22%.

In terms of the main countries of destination, Vietnam, with a CAGR of +21.0%, 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

In 2022, the average odoriferous substance mixture export price amounted to $X per ton, growing by 8.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.6%. The most prominent rate of growth was recorded in 2016 an increase of 11%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see gradual 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 Canada ($X per ton), while the average price for exports to Germany ($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 the Philippines (+8.3%), while the prices for the other major destinations experienced more modest paces of growth.

Odoriferous Substance Mixture Imports

Imports into the U.S.

In 2022, approx. X tons of mixtures of odoriferous substances and their preparations were imported into the United States; jumping by 24% against 2021. In general, imports saw a buoyant expansion. The growth pace was the most rapid in 2018 when imports increased by 26%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, odoriferous substance mixture imports skyrocketed to $X in 2022. Over the period under review, total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +7.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +65.6% against 2015 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Ireland (X tons) constituted the largest odoriferous substance mixture supplier to the United States, with a 57% share of total imports. Moreover, odoriferous substance mixture imports from Ireland exceeded the figures recorded by the second-largest supplier, Canada (X tons), fivefold. The third position in this ranking was held by Brazil (X tons), with a 4.6% share.

From 2012 to 2022, the average annual growth rate of volume from Ireland totaled +8.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+14.4% per year) and Brazil (+2.0% per year).

In value terms, Ireland ($X) constituted the largest supplier of mixtures of odoriferous substances and their preparations to the United States, comprising 89% of total imports. The second position in the ranking was taken by Canada ($X), with a 1.5% share of total imports. It was followed by France, with a 1.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Ireland amounted to +8.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+7.6% per year) and France (+1.7% per year).

Import Prices by Country

The average odoriferous substance mixture import price stood at $X per ton in 2022, rising by 1.8% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 11%. Over the period under review, average import prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

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 Ireland ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+3.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :