Monocarboxylic Acid Market Overview in the European Union
In value terms, monocarboxylic acid production stood at $3B in 2010 estimated in export prices. Overall, monocarboxylic acid production, however, continues to indicate a mild setback. The pace of growth appeared the most rapid in 2010 when production volume increased by 10% year-to-year. Over the period under review, monocarboxylic acid production reached its peak figure level at $3.3B in 2008; however, from 2009 to 2010, production failed to regain its momentum.
The countries with the highest volumes of monocarboxylic acid production in 2010 were the UK (952K tonnes), Germany (824K tonnes) and Spain (227K tonnes), with a combined 79% share of total production.
From 2007 to 2010, the most notable rate of growth in terms of monocarboxylic acid production, amongst the main producing countries, was attained by Spain, while the other leaders experienced more modest paces of growth.
The revenue of the monocarboxylic acid market in the European Union amounted to $3.9B in 2010, jumping by 5.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, monocarboxylic acid consumption, however, continues to indicate a slight reduction. The pace of growth was the most pronounced in 2008 when the market value increased by 11% y-o-y. In that year, the monocarboxylic acid market reached its peak level of $4.6B. From 2009 to 2010, the growth of the monocarboxylic acid market remained at a somewhat lower figure.
In Germany, monocarboxylic acid consumption increased at an average annual rate of +6.7% over the period from 2007-2010. In the other countries, the average annual rates were as follows: the UK (+1.8% per year) and Italy (-6.5% per year).
In value terms, Germany ($1.3B) led the market, alone. The second position in the ranking was occupied by the UK ($575M). It was followed by Italy.
From 2007 to 2010, the average annual growth rate of value in Germany totaled +3.6%. In the other countries, the average annual rates were as follows: the UK (+1.2% per year) and Italy (-7.3% per year).
The countries with the highest levels of monocarboxylic acid per capita consumption in 2010 were Belgium (28 kg per person), Germany (15 kg per person) and the Netherlands (9.22 kg per person).
From 2007 to 2010, the most notable rate of growth in terms of monocarboxylic acid per capita consumption, amongst the main consuming countries, was attained by Germany, while the other leaders experienced more modest paces of growth.