Global Salicylic Acid Market 2024

Salicylic Acid Market Size

After five years of growth, the global salicylic acid market decreased by -7.8% to $X in 2021. The market value increased at an average annual rate of +3.1% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Global consumption peaked at $X in 2020, and then declined in the following year.

Salicylic Acid Production

In value terms, salicylic acid production contracted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.0% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 when the production volume increased by 16%. Over the period under review, global production hit record highs at $X in 2020, and then shrank modestly in the following year.

Salicylic Acid Exports

Exports

Global salicylic acid exports soared to X tons in 2021, jumping by 39% compared with 2020 figures. Overall, total exports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +58.1% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, salicylic acid exports soared to $X in 2021. In general, total exports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China represented the key exporting country with an export of about X tons, which accounted for 66% of total exports. It was distantly followed by France (X tons), constituting a 23% share of total exports. India (X tons) and Germany (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the salicylic acid and its salts exports, with a CAGR of +8.3% from 2012 to 2021. At the same time, India (+5.6%) and Germany (+3.5%) displayed positive paces of growth. France experienced a relatively flat trend pattern. While the share of France (+23 p.p.) and China (+12 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), France ($X) and India ($X) appeared to be the countries with the highest levels of exports in 2021, together accounting for 76% of global exports.

China, with a CAGR of +6.9%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average salicylic acid export price amounted to $X per ton, surging by 3.1% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the average export price increased by 18% against the previous year. The global export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+0.7%), while the other global leaders experienced a decline in the export price figures.

Salicylic Acid Imports

Imports

In 2021, global imports of salicylic acid and its salts expanded slightly to X tons, picking up by 3.6% on the previous year's figure. The total import volume increased at an average annual rate of +3.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 when imports increased by 23% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of global imports remained at a somewhat lower figure.

In value terms, salicylic acid imports reduced to $X in 2021. In general, total imports indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +43.7% against 2015 indices. The pace of growth appeared the most rapid in 2018 with an increase of 38%. Over the period under review, global imports hit record highs at $X in 2020, and then dropped in the following year.

Imports by Country

India was the key importer of salicylic acid and its salts in the world, with the volume of imports resulting at X tons, which was approx. 46% of total imports in 2021. The United States (X tons) held an 8.1% share (based on physical terms) of total imports, which put it in second place, followed by Mexico (6.6%) and Germany (6.5%). Thailand (X tons), Malaysia (X tons), Italy (X tons), the Netherlands (X tons), the UK (X tons), Brazil (X tons), Spain (X tons) and Denmark (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to salicylic acid imports into India stood at +11.8%. At the same time, Brazil (+27.7%), Malaysia (+23.9%), the UK (+8.6%), the Netherlands (+7.2%), Denmark (+2.8%) and the United States (+1.6%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing importer imported in the world, with a CAGR of +27.7% from 2012-2021. Germany experienced a relatively flat trend pattern. By contrast, Italy (-1.1%), Spain (-2.3%), Thailand (-3.6%) and Mexico (-5.9%) illustrated a downward trend over the same period. While the share of India (+23 p.p.) and Malaysia (+1.6 p.p.) increased significantly in terms of the global imports from 2012-2021, the share of Germany (-2.2 p.p.), Thailand (-3.8 p.p.) and Mexico (-8.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported salicylic acid and its salts worldwide, comprising 32% of global imports. The second position in the ranking was held by the United States ($X), with a 14% share of global imports. It was followed by Germany, with an 8.6% share.

In India, salicylic acid imports increased at an average annual rate of +12.9% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: the United States (+5.7% per year) and Germany (+2.5% per year).

Import Prices by Country

In 2021, the average salicylic acid import price amounted to $X per ton, reducing by -12% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 12%. Over the period under review, average import prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+5.3%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :