Belgium: Carboxylic Acid Market 2024

Carboxylic Acid Market Size in Belgium

The Belgian carboxylic acid market soared to $X in 2022, rising by X% against the previous year. Over the period under review, consumption, however, continues to indicate a slight descent. Carboxylic acid consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Carboxylic Acid Production in Belgium

In value terms, carboxylic acid production fell to $X in 2022 estimated in export price. Over the period under review, the total production indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2016 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by X%. Carboxylic acid production peaked at $X in 2021, and then dropped in the following year.

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Carboxylic Acid Exports

Exports from Belgium

In 2022, after six years of growth, there was significant decline in shipments abroad of carboxylic acid with alcohol, phenol, aldehyde or ketone functions, when their volume decreased by X% to X tons. Over the period under review, exports, however, enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2018 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then declined remarkably in the following year.

In value terms, carboxylic acid exports reduced to $X in 2022. Overall, exports, however, saw a prominent expansion. The pace of growth appeared the most rapid in 2018 when exports increased by X% against the previous year. The exports peaked at $X in 2021, and then fell in the following year.

Exports by Country

Germany (X tons), the Netherlands (X tons) and France (X tons) were the main destinations of carboxylic acid exports from Belgium, together accounting for X% of total exports. Italy, the United States, Spain, Poland, Luxembourg, Turkey and the UK lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Luxembourg (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for carboxylic acid with alcohol, phenol, aldehyde or ketone functions exports from Belgium, comprising X% of total exports. The second position in the ranking was held by the Netherlands ($X), with a X% share of total exports. It was followed by France, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (X% per year) and France (X% per year).

Export Prices by Country

In 2022, the average carboxylic acid export price amounted to $X per ton, increasing by X% against the previous year. In general, the export price, however, recorded a noticeable downturn. Over the period under review, the average export prices reached the maximum at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to the Netherlands ($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 Germany (X%), while the prices for the other major destinations experienced mixed trend patterns.

Carboxylic Acid Imports

Imports into Belgium

Carboxylic acid imports into Belgium dropped to X tons in 2022, which is down by X% on 2021. Overall, imports, however, posted notable growth. The pace of growth was the most pronounced in 2020 with an increase of X%. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, carboxylic acid imports rose rapidly to $X in 2022. Over the period under review, imports, however, continue to indicate a measured expansion. The most prominent rate of growth was recorded in 2020 when imports increased by X%. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

The Netherlands (X tons), Germany (X tons) and China (X tons) were the main suppliers of carboxylic acid imports to Belgium, together comprising X% of total imports. South Korea, the United States, India, France, Italy and Taiwan (Chinese) lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the Netherlands ($X) and South Korea ($X) were the largest carboxylic acid suppliers to Belgium, together comprising X% of total imports. Italy, Germany, India, the United States, Taiwan (Chinese) and France lagged somewhat behind, together comprising a further X%.

Italy, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average carboxylic acid import price amounted to $X per ton, jumping by X% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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