United Kingdom: Carboxylic Acid Market 2024

Carboxylic Acid Market Size in the UK

In 2021, the UK carboxylic acid market decreased by -10.5% to $X, falling for the second year in a row after three years of growth. Overall, consumption continues to indicate a abrupt downturn. Carboxylic acid consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Carboxylic Acid Production in the UK

In value terms, carboxylic acid production expanded slightly to $X in 2021 estimated in export price. In general, production showed a precipitous decrease. The pace of growth was the most pronounced in 2018 when the production volume increased by 104%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Carboxylic Acid Exports

Exports from the UK

Carboxylic acid exports from the UK shrank significantly to X tons in 2021, waning by -17.1% against the year before. In general, exports saw a pronounced decline. The growth pace was the most rapid in 2016 with an increase of 23%. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, carboxylic acid exports reduced to $X in 2021. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when exports increased by 21% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for carboxylic acid exports from the UK, accounting for a 37% share of total exports. Moreover, carboxylic acid exports to the United States exceeded the volume sent to the second major destination, Australia (X tons), threefold. The Netherlands (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to -4.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+23.4% per year) and the Netherlands (-6.4% per year).

In value terms, the United States ($X) remains the key foreign market for carboxylic acid with alcohol, phenol, aldehyde or ketone functions exports from the UK, comprising 41% of total exports. The second position in the ranking was taken by Australia ($X), with an 11% share of total exports. It was followed by the Netherlands, with an 8.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at -1.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+17.1% per year) and the Netherlands (+1.7% per year).

Export Prices by Country

The average carboxylic acid export price stood at $X per ton in 2021, growing by 12% against the previous year. Over the last nine years, it increased at an average annual rate of +1.4%. The growth pace was the most rapid in 2018 an increase of 22%. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was New Zealand ($X per ton), while the average price for exports to Ireland ($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 the Netherlands (+8.7%), while the prices for the other major destinations experienced more modest paces of growth.

Carboxylic Acid Imports

Imports into the UK

In 2021, purchases abroad of carboxylic acid with alcohol, phenol, aldehyde or ketone functions decreased by -16.5% to X tons, falling for the third consecutive year after two years of growth. Over the period under review, imports showed a perceptible curtailment. The growth pace was the most rapid in 2018 with an increase of 5.9%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, carboxylic acid imports fell to $X in 2021. In general, imports continue to indicate a drastic downturn. The pace of growth appeared the most rapid in 2018 when imports increased by 19% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of carboxylic acid to the UK, accounting for a 46% share of total imports. Moreover, carboxylic acid imports from Germany exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. The third position in this ranking was taken by France (X tons), with an 8.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (+2.1% per year) and France (+4.6% per year).

In value terms, Germany ($X) constituted the largest supplier of carboxylic acid with alcohol, phenol, aldehyde or ketone functions to the UK, comprising 39% of total imports. The second position in the ranking was taken by China ($X), with a 17% share of total imports. It was followed by the United States, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from Germany totaled -1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+6.6% per year) and the United States (+20.4% per year).

Import Prices by Country

The average carboxylic acid import price stood at $X per ton in 2021, growing by 8.5% against the previous year. Overall, the import price, however, saw a slight slump. The growth pace was the most rapid in 2019 an increase of 13%. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while the price for South Africa ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+5.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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