Czech Republic: Phenylacetic Acid Market 2024

Phenylacetic Acid Market Size in the Czech Republic

The Czech phenylacetic acid market contracted to $X in 2023, falling by X% against the previous year. In general, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2023, the growth of the market remained at a somewhat lower figure.

Phenylacetic Acid Production in the Czech Republic

In value terms, phenylacetic acid production reduced to $X in 2023 estimated in export price. Overall, the total production indicated slight growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production increased by X% against 2021 indices. The growth pace was the most rapid in 2013 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2014 to 2023, production growth remained at a somewhat lower figure.

Phenylacetic Acid Exports

Exports from the Czech Republic

In 2023, approx. X tons of phenylacetic acid, its salts and esters were exported from the Czech Republic; growing by X% compared with 2022. In general, exports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2019 when exports increased by X%. Over the period under review, the exports reached the maximum in 2023 and are likely to see gradual growth in years to come.

In value terms, phenylacetic acid exports skyrocketed to $X in 2023. Over the period under review, exports showed a resilient increase. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The exports peaked in 2023 and are expected to retain growth in the near future.

Exports by Country

Slovakia (X tons), Germany (X tons) and Hungary (X tons) were the main destinations of phenylacetic acid exports from the Czech Republic, with a combined X% share of total exports. Uzbekistan, France and the United States lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the biggest increases were recorded for Uzbekistan (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Hungary ($X), Germany ($X) and the United States ($X) appeared to be the largest markets for phenylacetic acid exported from the Czech Republic worldwide, with a combined X% share of total exports. Slovakia, Uzbekistan and France lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Uzbekistan, with a CAGR of X%, saw the highest rates of growth with regard to 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

In 2023, the average phenylacetic acid export price amounted to $X per ton, falling by X% against the previous year. Overall, the export price, however, continues to indicate mild growth. The most prominent rate of growth was recorded in 2013 an increase of X%. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X,448 per ton), while the average price for exports to Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Uzbekistan (X%), while the prices for the other major destinations experienced more modest paces of growth.

Phenylacetic Acid Imports

Imports into the Czech Republic

In 2023, overseas purchases of phenylacetic acid, its salts and esters increased by X% to X tons, rising for the third year in a row after three years of decline. In general, imports, however, continue to indicate a noticeable slump. The growth pace was the most rapid in 2022 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2023, imports failed to regain momentum.

In value terms, phenylacetic acid imports reduced slightly to $X in 2023. Overall, imports showed notable growth. The growth pace was the most rapid in 2022 when imports increased by X%. Imports peaked at $X in 2017; however, from 2018 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, China (X tons) constituted the largest supplier of phenylacetic acid to the Czech Republic, with a X% share of total imports. Moreover, phenylacetic acid imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. Poland (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Poland (X% per year).

In value terms, the largest phenylacetic acid suppliers to the Czech Republic were China ($X), Germany ($X) and Poland ($X), with a combined X% share of total imports.

Among the main suppliers, Poland, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average phenylacetic acid import price amounted to $X per ton, which is down by X% against the previous year. Over the period under review, import price indicated a strong increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, phenylacetic acid import price decreased by X% against 2019 indices. The pace of growth appeared the most rapid in 2019 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2023, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform