United Kingdom: Adipic Acid Market 2024

Adipic Acid Market Size in the UK

The UK adipic acid market declined modestly to $X in 2022, dropping by -1.8% against the previous year. The market value increased at an average annual rate of +2.3% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. Adipic acid consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Adipic Acid Production in the UK

In value terms, adipic acid production fell modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.6% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2013 when the production volume increased by 25% against the previous year. Adipic acid production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Adipic Acid Exports

Exports from the UK

In 2022, overseas shipments of adipic acid, its salts and esters decreased by -15.4% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, exports showed a abrupt descent. The most prominent rate of growth was recorded in 2019 with an increase of 74% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, adipic acid exports contracted modestly to $X in 2022. Overall, exports saw a pronounced curtailment. The growth pace was the most rapid in 2019 with an increase of 75% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

France (X tons), Germany (X tons) and Norway (X tons) were the main destinations of adipic acid exports from the UK, with a combined 73% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Norway (with a CAGR of +72.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for adipic acid exported from the UK were France ($X), Norway ($X) and Germany ($X), with a combined 71% share of total exports.

In terms of the main countries of destination, Norway, with a CAGR of +97.5%, 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 adipic acid export price stood at $X per ton in 2022, rising by 18% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.7%. The growth pace was the most rapid in 2013 when the average export price increased by 52% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a lower figure.

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 Norway ($X per ton), while the average price for exports to the Netherlands ($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 Norway (+14.3%), while the prices for the other major destinations experienced more modest paces of growth.

Adipic Acid Imports

Imports into the UK

Adipic acid imports into the UK declined remarkably to X tons in 2022, with a decrease of -24.7% on 2021. Overall, imports saw a noticeable slump. The pace of growth was the most pronounced in 2017 when imports increased by 31% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, adipic acid imports rose sharply to $X in 2022. The total import value increased at an average annual rate of +1.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 29%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Germany (X tons) constituted the largest adipic acid supplier to the UK, with a 53% share of total imports. Moreover, adipic acid imports from Germany exceeded the figures recorded by the second-largest supplier, France (X tons), fivefold. Italy (X tons) ranked third in terms of total imports with a 9.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany totaled -3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-2.2% per year) and Italy (-1.8% per year).

In value terms, Germany ($X) constituted the largest supplier of adipic acid, its salts and esters to the UK, comprising 46% of total imports. The second position in the ranking was held by the United States ($X), with a 13% share of total imports. It was followed by Italy, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+2.6% per year) and Italy (+3.9% per year).

Import Prices by Country

In 2022, the average adipic acid import price amounted to $X per ton, picking up by 46% against the previous year. In general, the import price showed a noticeable expansion. The most prominent rate of growth was recorded in 2021 an increase of 81%. The import price peaked in 2022 and is expected to retain growth in the immediate term.

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

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

Source: IndexBox Platform

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