U.S.: Phenylacetic Acid Market 2024

Phenylacetic Acid Market Size in the U.S.

In 2022, the U.S. phenylacetic acid market decreased by X% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption saw a slight curtailment. Phenylacetic acid consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Phenylacetic Acid Production in the U.S.

In value terms, phenylacetic acid production amounted to $X in 2022. Over the period under review, production, however, continues to indicate a slight slump. The pace of growth appeared the most rapid in 2019 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Phenylacetic Acid Exports

Exports from the U.S.

In 2022, overseas shipments of phenylacetic acid, its salts and esters increased by X% to X tons, rising for the second year in a row after four years of decline. In general, exports, however, showed a perceptible curtailment. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, phenylacetic acid exports surged to $X in 2022. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X tons), Argentina (X tons) and India (X tons) were the main destinations of phenylacetic acid exports from the United States, with a combined X% share of total exports. Canada, Singapore, Brazil, Japan, the Netherlands, Mexico, Belgium, Colombia, Pakistan and South Korea lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest markets for phenylacetic acid exported from the United States were Germany ($X), Argentina ($X) and Brazil ($X), together accounting for X% of total exports. Canada, the Netherlands, India, Singapore, Mexico, Belgium, Japan, Colombia, Pakistan and South Korea lagged somewhat behind, together comprising a further X%.

The Netherlands, with a CAGR of X%, recorded the highest growth rate of the value of exports, among 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

In 2022, the average phenylacetic acid export price amounted to $X per ton, reducing by X% against the previous year. Overall, export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, phenylacetic acid export price decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2019 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

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

Phenylacetic Acid Imports

Imports into the U.S.

Phenylacetic acid imports into the United States dropped to X tons in 2022, which is down by X% on 2021. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, phenylacetic acid imports contracted modestly to $X in 2022. Over the period under review, total imports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2018 indices. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of phenylacetic acid to the United States, accounting for a X% share of total imports. Moreover, phenylacetic acid imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), sixfold. Germany (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Germany (X% per year).

In value terms, China ($X) constituted the largest supplier of phenylacetic acid, its salts and esters to the United States, comprising X% of total imports. The second position in the ranking was held by India ($X), with an X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual growth rate of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Germany (X% per year).

Import Prices by Country

In 2022, the average phenylacetic acid import price amounted to $X per ton, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2017 an increase of X%. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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 Japan ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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