EU: Salicylic Acid Market 2024

Salicylic Acid Market Size in the EU

The EU salicylic acid market expanded significantly to $X in 2021, growing by 6.1% against the previous year. Over the period under review, consumption, however, recorded a slight decrease. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Salicylic Acid Production in the EU

In value terms, salicylic acid production soared to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a noticeable descent. The pace of growth appeared the most rapid in 2017 with an increase of 164%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Salicylic Acid Exports

Exports in the EU

In 2021, the amount of salicylic acid and its salts exported in the European Union soared to X tons, picking up by 422% compared with 2020. In general, exports posted significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, salicylic acid exports surged to $X in 2021. Over the period under review, exports posted buoyant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

France prevails in exports structure, finishing at X tons, which was near 80% of total exports in 2021. It was distantly followed by Germany (X tons), mixing up a 9.6% share of total exports. The following exporters - the Netherlands (X tons), Spain (X tons) and Belgium (X tons) - together made up 8% of total exports.

France experienced a relatively flat trend pattern with regard to volume of exports of salicylic acid and its salts. At the same time, the Netherlands (+12.3%), Spain (+6.0%), Germany (+3.5%) and Belgium (+3.4%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +12.3% from 2012-2021. While the share of France (+80 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of the Netherlands (-5.4 p.p.), Spain (-6.8 p.p.), Belgium (-7.2 p.p.) and Germany (-38 p.p.) displayed negative dynamics.

In value terms, France ($X) emerged as the largest salicylic acid supplier in the European Union, comprising 59% of total exports. The second position in the ranking was taken by Germany ($X), with a 28% share of total exports. It was followed by the Netherlands, with a 3.4% share.

In France, salicylic acid exports remained relatively stable over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Germany (+4.3% per year) and the Netherlands (+13.1% per year).

Export Prices by Country

In 2021, the export price in the European Union amounted to $X per ton, waning by -50.8% against the previous year. In general, the export price showed a abrupt downturn. The pace of growth appeared the most rapid in 2018 an increase of 81%. Over the period under review, the export prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+7.0%), while the other leaders experienced more modest paces of growth.

Salicylic Acid Imports

Imports in the EU

Salicylic acid imports reached X tons in 2021, remaining constant against the previous year. Overall, imports, however, showed a perceptible shrinkage. The pace of growth appeared the most rapid in 2020 with an increase of 26% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, salicylic acid imports rose notably to $X in 2021. Over the period under review, imports recorded mild growth. The pace of growth appeared the most rapid in 2018 with an increase of 23%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the near future.

Imports by Country

Germany was the key importer of salicylic acid and its salts in the European Union, with the volume of imports amounting to X tons, which was near 37% of total imports in 2021. Italy (X tons) took a 9.8% share (based on physical terms) of total imports, which put it in second place, followed by the Netherlands (9.4%), Spain (8.9%), Denmark (8.9%), Sweden (7.8%), Poland (5.5%) and France (4.7%).

Germany experienced a relatively flat trend pattern with regard to volume of imports of salicylic acid and its salts. At the same time, the Netherlands (+7.2%), Denmark (+2.8%) and Poland (+1.8%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing importer imported in the European Union, with a CAGR of +7.2% from 2012-2021. By contrast, Italy (-1.1%), Spain (-2.3%), Sweden (-3.6%) and France (-13.7%) illustrated a downward trend over the same period. Germany (+6.3 p.p.), the Netherlands (+5.2 p.p.), Denmark (+3.1 p.p.) and Poland (+1.6 p.p.) significantly strengthened its position in terms of the total imports, while France saw its share reduced by -10.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) constitutes the largest market for imported salicylic acid and its salts in the European Union, comprising 35% of total imports. The second position in the ranking was held by Italy ($X), with a 12% share of total imports. It was followed by the Netherlands, with a 9% share.

From 2012 to 2021, the average annual growth rate of value in Germany amounted to +2.5%. In the other countries, the average annual rates were as follows: Italy (+2.7% per year) and the Netherlands (+8.8% per year).

Import Prices by Country

In 2021, the import price in the European Union amounted to $X per ton, surging by 7.7% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.0%. The most prominent rate of growth was recorded in 2019 an increase of 18% against the previous year. Over the period under review, import prices reached the peak figure in 2021 and is likely to see steady growth in years to come.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Poland ($X per ton) and Italy ($X per ton), while Spain ($X per ton) and Denmark ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+5.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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