Europe: Phenylacetic Acid Market 2024

Phenylacetic Acid Market Size in Europe

The Europe phenylacetic acid market contracted modestly to $X in 2023, falling by X% against the previous year. Overall, consumption recorded 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 lower figure.

Phenylacetic Acid Production in Europe

In value terms, phenylacetic acid production contracted to $X in 2023 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2014 to 2023, production growth failed to regain momentum.

Phenylacetic Acid Exports

Exports in Europe

In 2023, approx. X tons of phenylacetic acid, its salts and esters were exported in Europe; surging by X% compared with the previous year. In general, exports, however, continue to indicate a noticeable slump. The pace of growth was the most pronounced in 2020 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2023, the exports remained at a lower figure.

In value terms, phenylacetic acid exports expanded remarkably to $X in 2023. Total exports indicated a measured increase from 2012 to 2023: its value 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, exports increased by X% against 2017 indices. The growth pace was the most rapid in 2022 when exports increased by X%. Over the period under review, the exports attained the maximum in 2023 and are likely to see gradual growth in the immediate term.

Exports by Country

Germany was the major exporting country with an export of around X tons, which accounted for X% of total exports. Belgium (X tons) held the second position in the ranking, followed by the Netherlands (X tons), Italy (X tons), Spain (X tons) and France (X tons). All these countries together held approx. X% share of total exports. Poland (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 Germany stood at X%. At the same time, Spain (X%), France (X%), Italy (X%) and the Netherlands (X%) displayed positive paces of growth. Moreover, Spain emerged as the fastest-growing exporter exported in Europe, with a CAGR of X% from 2012-2023. By contrast, Poland (X%) and Belgium (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of the Netherlands, Spain, Italy, France and Germany increased by X, X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) remains the largest phenylacetic acid supplier in Europe, comprising X% of total exports. The second position in the ranking was held by France ($X), with a X% share of total exports. It was followed by Belgium, with a X% share.

In Germany, phenylacetic acid exports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: France (X% per year) and Belgium (X% per year).

Export Prices by Country

The export price in Europe stood at $X per ton in 2023, approximately reflecting the previous year. Export price indicated temperate growth 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 export price increased by X% against 2021 indices. The growth pace was the most rapid in 2022 when the export price increased by X%. The level of export peaked in 2023 and is expected to retain growth in the immediate term.

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

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

Phenylacetic Acid Imports

Imports in Europe

In 2023, the amount of phenylacetic acid, its salts and esters imported in Europe dropped slightly to X tons, which is down by X% compared with the previous year. In general, imports saw a mild curtailment. The most prominent rate of growth was recorded in 2014 when imports increased by X%. As a result, imports reached the peak of X tons. From 2015 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, phenylacetic acid imports dropped to $X in 2023. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X%. The level of import peaked at $X in 2014; however, from 2015 to 2023, imports stood at a somewhat lower figure.

Imports by Country

Italy (X tons) and Germany (X tons) represented roughly X% of total imports in 2023. Belgium (X tons) held the next position in the ranking, followed by Spain (X tons), the Netherlands (X tons), Switzerland (X tons) and Russia (X tons). All these countries together held approx. X% share of total imports. The UK (X tons), France (X tons), Greece (X tons), Poland (X tons) and Hungary (X tons) followed a long way behind the leaders.

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

In value terms, Italy ($X), Germany ($X) and Belgium ($X) appeared to be the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Switzerland, Spain, the Netherlands, Greece, France, Russia, the UK, Hungary and Poland lagged somewhat behind, together comprising a further X%.

Among 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

The import price in Europe stood at $X per ton in 2023, approximately equating the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2019 when the import price increased by X% against the previous year. The level of import peaked in 2023 and is expected to retain growth in years to come.

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

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

Source: IndexBox Platform