Germany Supplies over a Half of the European Adipic Acid Exports

IndexBox has just published a new report: 'EU - Adipic Acid, Its Salts And Esters - Market Analysis, Forecast, Size, Trends And Insights'. Here is a summary of the report's key findings.

In 2019, after two years of growth, there was a significant decline in the EU adipic acid market, when its value decreased by -17.4% to $1.5B. The level of consumption peaked at $2.1B in 2013; however, from 2014 to 2019, consumption failed to regain the momentum.

Consumption by Country

The countries with the highest volumes of adipic acid consumption in 2019 were Italy (146K tonnes), the UK (132K tonnes) and France (131K tonnes), together comprising 43% of total consumption. These countries were followed by Spain, Poland, the Netherlands, Belgium, the Czech Republic and Sweden, which together accounted for a further 47%.

From 2013 to 2019, the biggest increases were in Spain, while adipic acid consumption for the other leaders experienced more modest paces of growth.

In value terms, the UK ($221M), France ($219M) and Spain ($212M) constituted the countries with the highest levels of market value in 2019, together comprising 43% of the total market.

The countries with the highest levels of adipic acid per capita consumption in 2019 were the Netherlands (5.26 kg per person), Belgium (5.25 kg per person) and the Czech Republic (4.18 kg per person).

Production in the EU

In 2019, production of adipic acid, its salts and esters decreased by -10.8% to 980K tonnes, falling for the third year in a row after two years of growth. In general, production recorded a slight decrease. The most prominent rate of growth was recorded in 2016 with an increase of 4.2% against the previous year. As a result, production attained a peak volume of 1.1M tonnes but afterward it stood at lower levels.

Production by Country

The countries with the highest volumes of adipic acid production in 2019 were France (234K tonnes), Germany (172K tonnes) and the UK (151K tonnes), with a combined 57% share of total production. These countries were followed by Poland, Spain, Belgium and the Czech Republic, which together accounted for a further 28%.

From 2013 to 2019, the biggest increases were in Spain, while adipic acid production for the other leaders experienced mixed trends in the production figures.

Exports in the EU

Adipic acid exports contracted slightly to 388K tonnes in 2019, which is down by -2.2% compared with the year before. Overall, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by 5.1% against the previous year. As a result, exports attained a peak of 397K tonnes, and then contracted slightly in the following year. In value terms, adipic acid exports reduced modestly to $632M (IndexBox estimates) in 2019. 

Exports by Country

Germany was the major exporter of adipic acid, its salts and esters in the European Union, with the volume of exports accounting for 214K tonnes, which was approx. 55% of total exports in 2019. France (106K tonnes) took the second position in the ranking, distantly followed by the UK (33K tonnes) and Italy (20K tonnes). All these countries together held near 41% share of total exports. Belgium (7.9K tonnes) held a minor share of total exports.

From 2013 to 2019, average annual rates of growth with regard to adipic acid exports from Germany stood at +1.1%. At the same time, Italy (+6.3%) displayed positive paces of growth. Moreover, Italy emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +6.3% from 2013-2019. France and Belgium experienced a relatively flat trend pattern. By contrast, the UK (-3.4%) illustrated a downward trend over the same period. 

In value terms, Germany ($343M) remains the largest adipic acid supplier in the European Union, comprising 54% of total exports. The second position in the ranking was occupied by France ($170M), with a 27% share of total exports. It was followed by the UK, with a 8.3% share.

From 2013 to 2019, the average annual rate of growth in terms of value in Germany totaled -2.3%. In the other countries, the average annual rates were as follows: France (-3.8% per year) and the UK (-7.3% per year).

Export Prices by Country

The adipic acid export price in the European Union stood at $1,627 per tonne in 2019, shrinking by -2.6% against the previous year. Overall, the export price saw a noticeable descent. Over the period under review, export prices reached the peak figure at $2,040 per tonne in 2013; however, from 2014 to 2019, export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2019, major exporting countries recorded the following prices: in Belgium ($1,951 per tonne) and Italy ($1,714 per tonne), while the UK ($1,588 per tonne) and France ($1,598 per tonne) were amongst the lowest.

From 2013 to 2019, the most notable rate of growth in terms of prices was attained by Germany, while the other leaders experienced a decline in the export price figures.

Source: IndexBox Platform