United Kingdom: Market for Salts Of Acetic Acid 2024

Market Size for Salts Of Acetic Acid in the UK

In 2022, after three years of decline, there was significant growth in the UK salts of acetic acid market, when its value increased by 58% to $X. Overall, the total consumption indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Salts Of Acetic Acid in the UK

In value terms, salts of acetic acid production reduced modestly to $X in 2022 estimated in export price. Overall, production, however, enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of 55%. Salts of acetic acid production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Exports of Salts Of Acetic Acid

Exports from the UK

In 2022, approx. X tons of salts of acetic acid were exported from the UK; which is down by -55% on the previous year's figure. In general, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 121%. As a result, the exports reached the peak of X tons, and then reduced markedly in the following year.

In value terms, salts of acetic acid exports dropped rapidly to $X in 2022. Over the period under review, exports, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of 221% against the previous year. As a result, the exports attained the peak of $X, and then contracted remarkably in the following year.

Exports by Country

The Netherlands (X tons) was the main destination for salts of acetic acid exports from the UK, with a 26% share of total exports. Moreover, salts of acetic acid exports to the Netherlands exceeded the volume sent to the second major destination, Italy (X tons), twofold. The third position in this ranking was taken by the United States (X tons), with an 8.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Netherlands was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+9.5% per year) and the United States (+9.2% per year).

In value terms, the Netherlands ($X), Belgium ($X) and Mexico ($X) were the largest markets for salts of acetic acid exported from the UK worldwide, together comprising 49% of total exports. Brazil, the United States, Italy, Germany, Switzerland, Austria, Ireland, Poland, France and Sweden lagged somewhat behind, together comprising a further 40%.

Among the main countries of destination, Austria, with a CAGR of +151.7%, saw the highest growth rate of 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 salts of acetic acid export price stood at $X per ton in 2022, picking up by 47% against the previous year. Over the period under review, the export price showed a resilient increase. The pace of growth was the most pronounced in 2019 an increase of 57%. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to France ($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 (+23.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Salts Of Acetic Acid

Imports into the UK

In 2022, approx. X tons of salts of acetic acid were imported into the UK; with an increase of 12% against 2021. Overall, imports, however, recorded a perceptible curtailment. The pace of growth appeared the most rapid in 2019 with an increase of 16% against the previous year. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, salts of acetic acid imports surged to $X in 2022. In general, total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.0% 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 +94.9% against 2017 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest supplier of salts of acetic acid to the UK, with a 52% share of total imports. Moreover, salts of acetic acid imports from the Netherlands exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was held by Germany (X tons), with a 7.3% share.

From 2012 to 2022, the average annual growth rate of volume from the Netherlands amounted to -2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+5.4% per year) and Germany (-2.2% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of salts of acetic acid to the UK, comprising 48% of total imports. The second position in the ranking was held by China ($X), with a 13% share of total imports. It was followed by Germany, with a 9.1% share.

From 2012 to 2022, the average annual growth rate of value from the Netherlands totaled +10.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+11.2% per year) and Germany (-3.0% per year).

Import Prices by Country

In 2022, the average salts of acetic acid import price amounted to $X per ton, growing by 18% against the previous year. Overall, import price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +8.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, salts of acetic acid import price increased by +88.8% against 2016 indices. The pace of growth was the most pronounced in 2014 an increase of 23%. The import price peaked in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+15.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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