Eastern Europe: Phenylacetic Acid Market 2024

Phenylacetic Acid Market Size in Eastern Europe

In 2023, the East European phenylacetic acid market increased by X% to $X, rising for the second consecutive year after three years of decline. Overall, consumption, however, showed a mild decrease. As a result, consumption attained the peak level of $X. From 2014 to 2023, the growth of the market remained at a somewhat lower figure.

Phenylacetic Acid Production in Eastern Europe

In value terms, phenylacetic acid production dropped slightly to $X in 2023 estimated in export price. Overall, production, however, saw a mild reduction. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2023, production stood at a somewhat lower figure.

Phenylacetic Acid Exports

Exports in Eastern Europe

In 2023, shipments abroad of phenylacetic acid, its salts and esters decreased by X% to X tons, falling for the second year in a row after four years of growth. Over the period under review, exports saw a perceptible downturn. The most prominent rate of growth was recorded in 2016 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

In value terms, phenylacetic acid exports shrank markedly to $X in 2023. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 with an increase of X%. As a result, the exports attained the peak of $X, and then declined rapidly in the following year.

Exports by Country

Poland represented the largest exporter of phenylacetic acid, its salts and esters in Eastern Europe, with the volume of exports finishing at X tons, which was near X% of total exports in 2023. Ukraine (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Russia (X%). The Czech Republic (X tons), Hungary (X tons) and Lithuania (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to phenylacetic acid exports from Poland stood at X%. At the same time, Russia (X%), Lithuania (X%) and the Czech Republic (X%) displayed positive paces of growth. Moreover, Russia emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of X% from 2012-2023. By contrast, Hungary (X%) and Ukraine (X%) illustrated a downward trend over the same period. While the share of Russia (X p.p.), the Czech Republic (X p.p.) and Lithuania (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Ukraine (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X) remains the largest phenylacetic acid supplier in Eastern Europe, comprising X% of total exports. The second position in the ranking was taken by the Czech Republic ($X), with a X% share of total exports. It was followed by Hungary, with a X% share.

In Poland, phenylacetic acid exports remained relatively stable over the period from 2012-2023. In the other countries, the average annual rates were as follows: the Czech Republic (X% per year) and Hungary (X% per year).

Export Prices by Country

In 2023, the export price in Eastern Europe amounted to $X per ton, falling by X% against the previous year. Export price indicated a noticeable expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, phenylacetic acid export price increased by X% against 2017 indices. The pace of growth was the most pronounced in 2022 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then dropped sharply in the following year.

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

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

Phenylacetic Acid Imports

Imports in Eastern Europe

In 2023, after two years of decline, there was significant growth in purchases abroad of phenylacetic acid, its salts and esters, when their volume increased by X% to X tons. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2015 with an increase of X%. The volume of import peaked at X tons in 2018; however, from 2019 to 2023, imports remained at a lower figure.

In value terms, phenylacetic acid imports shrank modestly to $X in 2023. Total imports indicated a strong expansion 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, imports increased by X% against 2021 indices. The growth pace was the most rapid in 2022 with an increase of X%. As a result, imports reached the peak of $X, and then declined in the following year.

Imports by Country

Russia was the main importer of phenylacetic acid, its salts and esters in Eastern Europe, with the volume of imports resulting at X tons, which was near X% of total imports in 2023. It was distantly followed by Poland (X tons), Hungary (X tons) and the Czech Republic (X tons), together generating a X% share of total imports. The following importers - Belarus (X tons), Bulgaria (X tons) and Ukraine (X tons) - together made up X% of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Belarus (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest phenylacetic acid importing markets in Eastern Europe were Russia ($X), Hungary ($X) and Poland ($X), with a combined X% share of total imports.

In terms of the main importing countries, Russia, with a CAGR of X%, recorded 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 import price in Eastern Europe amounted to $X per ton, waning by X% against the previous year. Import price indicated a moderate increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, phenylacetic acid import price increased by X% against 2021 indices. The most prominent rate of growth was recorded in 2022 an increase of X%. As a result, import price attained the peak level of $X per ton, and then contracted in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Ukraine ($X per ton), while Russia ($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 Czech Republic (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform