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World - Carboxylic Acid With Alcohol, Phenol, Aldehyde Or Ketone Functions - Market Analysis, Forecast, Size, Trends And Insights
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The article discusses the increasing demand for carboxylic acid with alcohol, phenol, aldehyde, or ketone functions worldwide, with a forecasted growth in market consumption and value terms over the next eight years. Market performance is projected to expand with an anticipated CAGR of +1.5%, reaching 3.5M tons by 2030. Global consumption of carboxylic acid showed growth, with countries like China, the United States, and India leading in volumes consumed. Production, imports, and exports of carboxylic acid also saw notable trends and fluctuations, with China being the largest exporter in 2022. The article provides insights into market trends, growth rates, and key players in the global carboxylic acid market.
Market Forecast
Driven by increasing demand for carboxylic acid with alcohol, phenol, aldehyde or ketone functions worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +1.5% for the period from 2022 to 2030, which is projected to bring the market volume to 3.5M tons by the end of 2030.
In value terms, the market is forecast to increase with an anticipated CAGR of +4.1% for the period from 2022 to 2030, which is projected to bring the market value to $29.4B (in nominal prices) by the end of 2030.
Consumption
World Consumption of Carboxylic Acid With Alcohol, Phenol, Aldehyde Or Ketone Functions
For the third consecutive year, the global market recorded growth in consumption of carboxylic acid with alcohol, phenol, aldehyde or ketone functions, which increased by 8.5% to 3.1M tons in 2022. The total consumption volume increased at an average annual rate of +2.9% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. Over the period under review, global consumption hit record highs in 2022 and is likely to see steady growth in the immediate term.
The global carboxylic acid market value rose remarkably to $21.3B in 2022, with an increase of 6.6% 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). The market value increased at an average annual rate of +2.8% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the global market attained the peak level in 2022 and is likely to see steady growth in the near future.
Consumption By Country
The countries with the highest volumes of consumption in 2022 were China (594K tons), the United States (340K tons) and India (298K tons), with a combined 39% share of global consumption. Russia, Brazil, France, Spain, the United Arab Emirates, Japan, Italy, Germany, the Netherlands and South Korea lagged somewhat behind, together comprising a further 35%.
From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +37.3%), while consumption for the other global leaders experienced more modest paces of growth.
In value terms, India ($5.5B) led the market, alone. The second position in the ranking was held by Russia ($2.8B). It was followed by China.
From 2012 to 2022, the average annual growth rate of value in India amounted to +4.9%. The remaining consuming countries recorded the following average annual rates of market growth: Russia (+1.2% per year) and China (+1.8% per year).
In 2022, the highest levels of carboxylic acid per capita consumption was registered in the United Arab Emirates (12 kg per person), followed by the Netherlands (3.3 kg per person), Spain (3 kg per person) and France (2.1 kg per person), while the world average per capita consumption of carboxylic acid was estimated at 0.4 kg per person.
In the United Arab Emirates, carboxylic acid per capita consumption increased at an average annual rate of +35.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the Netherlands (+12.6% per year) and Spain (+5.6% per year).
Production
World Production of Carboxylic Acid With Alcohol, Phenol, Aldehyde Or Ketone Functions
Global carboxylic acid production expanded notably to 3.1M tons in 2022, surging by 6.5% compared with the previous year's figure. The total output volume increased at an average annual rate of +3.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when the production volume increased by 20%. Over the period under review, global production attained the maximum volume in 2022 and is expected to retain growth in years to come.
In value terms, carboxylic acid production expanded modestly to $16.9B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.9% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2015 with an increase of 8.9% against the previous year. Over the period under review, global production hit record highs at $16.9B in 2020; afterwards, it flattened through to 2022.
Production By Country
The country with the largest volume of carboxylic acid production was China (1.2M tons), comprising approx. 38% of total volume. Moreover, carboxylic acid production in China exceeded the figures recorded by the second-largest producer, India (210K tons), sixfold. The United States (194K tons) ranked third in terms of total production with a 6.2% share.
In China, carboxylic acid production expanded at an average annual rate of +4.4% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: India (+2.2% per year) and the United States (+1.6% per year).
Imports
World Imports of Carboxylic Acid With Alcohol, Phenol, Aldehyde Or Ketone Functions
Global carboxylic acid imports rose rapidly to 1.7M tons in 2022, with an increase of 14% compared with the previous year's figure. Over the period under review, total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +38.5% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, carboxylic acid imports skyrocketed to $8.1B in 2022. The total import value increased at an average annual rate of +4.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.
Imports By Country
In 2022, the United States (205K tons), followed by the United Arab Emirates (130K tons), India (118K tons), Germany (101K tons), Singapore (90K tons) and Japan (79K tons) represented the key importers of carboxylic acid with alcohol, phenol, aldehyde or ketone functions, together creating 42% of total imports. The following importers - Brazil (75K tons), Spain (69K tons), Belgium (61K tons), China (54K tons), South Korea (53K tons), France (52K tons) and Russia (49K tons) - together made up 24% of total imports.
From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +37.3%), while purchases for the other global leaders experienced more modest paces of growth.
In value terms, the United States ($1.1B) constitutes the largest market for imported carboxylic acid with alcohol, phenol, aldehyde or ketone functions worldwide, comprising 14% of global imports. The second position in the ranking was taken by Germany ($556M), with a 6.9% share of global imports. It was followed by Singapore, with a 6.5% share.
From 2012 to 2022, the average annual rate of growth in terms of value in the United States amounted to +4.5%. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+1.8% per year) and Singapore (+20.4% per year).
Import Prices By Country
In 2022, the average carboxylic acid import price amounted to $4,725 per ton, growing by 6.4% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 6.5%. Global import price peaked at $5,157 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was France ($7,671 per ton), while the United Arab Emirates ($1,386 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+1.0%), while the other global leaders experienced more modest paces of growth.
Exports
World Exports of Carboxylic Acid With Alcohol, Phenol, Aldehyde Or Ketone Functions
In 2022, global exports of carboxylic acid with alcohol, phenol, aldehyde or ketone functions totaled 1.7M tons, surging by 10% on the year before. Over the period under review, total exports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +43.9% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of 21% against the previous year. Over the period under review, the global exports hit record highs in 2022 and are likely to continue growth in the immediate term.
In value terms, carboxylic acid exports soared to $7.3B in 2022. In general, total exports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +69.5% against 2016 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
Exports By Country
China was the largest exporter of carboxylic acid with alcohol, phenol, aldehyde or ketone functions in the world, with the volume of exports reaching 641K tons, which was near 38% of total exports in 2022. Singapore (253K tons) held the second position in the ranking, distantly followed by Thailand (97K tons). All these countries together held near 21% share of total exports. The following exporters - France (76K tons), Germany (64K tons), the United States (59K tons), South Korea (54K tons), Spain (51K tons), Japan (47K tons), Switzerland (46K tons), Belgium (42K tons), Italy (36K tons) and India (31K tons) - together made up 30% of total exports.
From 2012 to 2022, average annual rates of growth with regard to carboxylic acid exports from China stood at +7.5%. At the same time, Singapore (+52.7%), Spain (+21.1%), India (+14.0%), Belgium (+9.9%), Japan (+7.9%), South Korea (+7.1%), France (+4.9%), Switzerland (+4.4%) and Germany (+1.6%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in the world, with a CAGR of +52.7% from 2012-2022. Thailand and Italy experienced a relatively flat trend pattern. By contrast, the United States (-4.4%) illustrated a downward trend over the same period. Singapore (+15 p.p.), China (+4.7 p.p.) and Spain (+2.2 p.p.) significantly strengthened its position in terms of the global exports, while Italy, Germany, Thailand and the United States saw its share reduced by -1.8%, -2.1%, -3.8% and -6.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, China ($2.4B) remains the largest carboxylic acid supplier worldwide, comprising 33% of global exports. The second position in the ranking was taken by Singapore ($554M), with a 7.6% share of global exports. It was followed by India, with a 7.1% share.
In China, carboxylic acid exports increased at an average annual rate of +8.2% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (+32.8% per year) and India (+14.8% per year).
Export Prices By Country
In 2022, the average carboxylic acid export price amounted to $4,309 per ton, increasing by 5.5% against the previous year. Over the period under review, the export price, however, saw a mild decrease. The most prominent rate of growth was recorded in 2018 when the average export price increased by 9.8%. The global export price peaked at $4,777 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was India ($16,876 per ton), while Thailand ($1,117 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+4.4%), while the other global leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the global carboxylic acid market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 20143475 - Carboxylic acid with alcohol, phenol, aldehyde or ketone functions
Country coverage:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
+ the largest producing countries
Data coverage:
- Global market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Global production, split by region and country
- Global trade (exports and imports)
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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