Estonia - Formic Acid, Its Salts And Esters - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPrice for Formic Acid, Its Salts and Esters in Estonia - 2023
Contents:
- Price for Formic Acid, Its Salts and Esters in Estonia (CIF) - 2023
- Price for Formic Acid, Its Salts and Esters in Estonia (FOB) - 2022
- Imports of Formic Acid, Its Salts and Esters in Estonia
- Exports of Formic Acid, Its Salts and Esters in Estonia
Price for Formic Acid, Its Salts and Esters in Estonia (CIF) - 2023
The average import price for formic acid, its salts and esters stood at $944 per ton in September 2023, shrinking by -18.9% against the previous month. Overall, the import price recorded a mild shrinkage. The pace of growth was the most pronounced in March 2023 an increase of 727% month-to-month. As a result, import price reached the peak level of $7,565 per ton. From April 2023 to September 2023, the average import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Poland ($1,510 per ton), while the price for Finland ($914 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Poland (+3.6%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Formic Acid, Its Salts and Esters in Estonia (FOB) - 2022
In 2022, the average export price for formic acid, its salts and esters amounted to $1,996 per ton, rising by 156% against the previous year. Overall, the export price enjoyed a remarkable increase. Over the period under review, the average export prices attained the maximum at $2,235 per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($2,689 per ton), while the average price for exports to Lithuania ($1,210 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+11.6%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Formic Acid, Its Salts and Esters in Estonia
In 2022, after three years of growth, there was significant decline in overseas purchases of formic acid, its salts and esters, when their volume decreased by -22.1% to 888 tons. Over the period under review, total imports indicated prominent growth from 2019 to 2022: its volume increased at an average annual rate of +5.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +17.9% against 2019 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 30% against the previous year. As a result, imports reached the peak of 1.1K tons, and then shrank remarkably in the following year.
In value terms, imports of formic acid, its salts and esters rose to $907K in 2022. Overall, total imports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +17.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +60.9% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of 36%. Over the period under review, imports of attained the maximum in 2022 and are likely to continue growth in years to come.
Import of Formic Acid, Its Salts and Esters in Estonia (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Finland | 390 | 469 | 485 | 485 | 7.5% |
Lithuania | 16.6 | 73.3 | 153 | 143 | 105.0% |
Poland | 59.4 | 62.1 | 96.6 | 135 | 31.5% |
China | 24.8 | 9.7 | 33.6 | N/A | 16.4% |
Others | 73.5 | 156 | 109 | 144 | 25.1% |
Total | 564 | 770 | 877 | 907 | 17.2% |
Top Suppliers of Formic Acid, Its Salts and Esters to Estonia in 2022:
- Finland (630.7 tons)
- Poland (130.8 tons)
- Lithuania (108.9 tons)
Exports of Formic Acid, Its Salts and Esters in Estonia
In 2022, after three years of growth, there was significant decline in shipments abroad of formic acid, its salts and esters, when their volume decreased by -74.3% to 5.9 tons. Overall, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 216% against the previous year. As a result, the exports attained the peak of 23 tons, and then declined remarkably in the following year.
In value terms, exports of formic acid, its salts and esters reduced dramatically to $12K in 2022. In general, exports, however, posted significant growth. The pace of growth was the most pronounced in 2021 with an increase of 150%. As a result, the exports attained the peak of $18K, and then fell sharply in the following year.
Export of Formic Acid, Its Salts and Esters in Estonia (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Russia | N/A | N/A | N/A | 7.8 | 0% |
Lithuania | N/A | 7.1 | 17.8 | 2.2 | -44.3% |
Finland | N/A | N/A | N/A | 1.8 | 0% |
Latvia | 5.7 | 0.1 | 0.1 | N/A | -86.8% |
Others | N/A | N/A | N/A | N/A | 0% |
Total | 5.7 | 7.2 | 17.9 | 11.8 | 27.4% |
Top Export Markets for Formic Acid, Its Salts and Esters from Estonia in 2022:
- Russia (2.9 tons)
- Lithuania (1.8 tons)
- Finland (1.2 tons)
This report provides an in-depth analysis of the market for formic acid, its salts and esters in Estonia. 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 20143250 - Formic acid, its salts and esters
Country coverage:
- Estonia
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Estonia
- 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
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- 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. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- 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 -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- 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
- 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 Of Origin, 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, By Country Of Destination, 2012–2023
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