Azerbaijan: Polycarboxylic Acid Market 2023

Polycarboxylic Acid Market Size in Azerbaijan

The Azerbaijani polycarboxylic acid market reached $X in 2021, therefore, remained relatively stable against the previous year. Over the period under review, consumption, however, recorded a strong expansion. Polycarboxylic acid consumption peaked at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Polycarboxylic Acid Production in Azerbaijan

In value terms, polycarboxylic acid production expanded modestly to $X in 2021 estimated in export price. Overall, production, however, posted a buoyant expansion. The pace of growth was the most pronounced in 2014 when the production volume increased by 69% against the previous year. Over the period under review, production attained the peak level at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Polycarboxylic Acid Exports

Exports from Azerbaijan

In 2021, the amount of polycarboxylic acids exported from Azerbaijan declined significantly to X tons, shrinking by -71.4% against the previous year. Over the period under review, exports continue to indicate a sharp shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of 143%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, polycarboxylic acid exports declined significantly to $X in 2021. Overall, exports saw a deep slump. The most prominent rate of growth was recorded in 2016 when exports increased by 209% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for polycarboxylic acid exports from Azerbaijan, accounting for a approx. 99.9% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to China totaled -20.9%.

In value terms, China ($X) also remains the key foreign market for polycarboxylic acids exports from Azerbaijan.

From 2012 to 2021, the average annual growth rate of value to China stood at -12.7%.

Export Prices by Country

In 2021, the average polycarboxylic acid export price amounted to $X per ton, remaining stable against the previous year. Overall, the export price recorded a prominent expansion. The pace of growth was the most pronounced in 2016 when the average export price increased by 27% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for China amounted to +10.3% per year.

Polycarboxylic Acid Imports

Imports into Azerbaijan

In 2021, purchases abroad of polycarboxylic acids decreased by -14.1% to X tons, falling for the second consecutive year after four years of growth. In general, imports, however, saw a resilient increase. The growth pace was the most rapid in 2017 when imports increased by 41%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, polycarboxylic acid imports amounted to $X in 2021. Overall, imports, however, enjoyed measured growth. The pace of growth was the most pronounced in 2016 when imports increased by 66%. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

Turkey (X tons), Iran (X tons) and Russia (X tons) were the main suppliers of polycarboxylic acid imports to Azerbaijan, with a combined 82% share of total imports. Saudi Arabia, the United Arab Emirates and the UK lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of +109.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) constituted the largest supplier of polycarboxylic acids to Azerbaijan, comprising 56% of total imports. The second position in the ranking was held by Iran ($X), with a 16% share of total imports. It was followed by Russia, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Turkey totaled +1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Iran (+21.6% per year) and Russia (+11.0% per year).

Import Prices by Country

In 2021, the average polycarboxylic acid import price amounted to $X per ton, rising by 29% against the previous year. In general, the import price, however, recorded a slight decline. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Turkey ($X per ton), while the price for Iran ($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 Arab Emirates (+12.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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