In 2023, China led the global export market for carboxylic acids (phenol function only) with 26.23%, followed by South Korea and Switzerland at 18.11% and 10.16%, respectively. Year-on-year analysis shows notable growth in China and South Korea at 1.88% and 3.39%, respectively, with Singapore and Spain experiencing higher growth rates at 6.24% and 3.4%. Conversely, Italy and Romania faced significant declines at -34.03% and -34.83%.
Key trends to observe for 2024 include the continuation of steady growth in Asian markets, particularly China and South Korea, and a potential recovery in European markets such as Switzerland and Germany. It's crucial to monitor the effects of global trade policies and economic stability on these export dynamics.
Top countries in Export of Carboxylic Acids (Phenol Function Only) Share by Country (US Dollars)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 26.23 | 2023 | +2.75% | +1.88% | View data |
| 2 | 2 South Korea | 18.11 | 2023 | +2.74% | +3.39% | View data |
| 3 | 3 Switzerland | 10.16 | 2023 | -1.7% | +0.054% | View data |
| 4 | 4 Singapore | 9.72 | 2023 | +4.92% | +6.24% | View data |
| 5 | 5 United States | 7.81 | 2023 | +2.13% | +1.81% | View data |
| 6 | 6 Japan | 6.73 | 2023 | +0.05% | -0.45% | View data |
| 7 | 7 Belgium | 6.6 | 2023 | +2.33% | +0.58% | View data |
| 8 | 8 Germany | 5.79 | 2023 | +1.04% | -0.2% | View data |
| 9 | 9 Israel | 2.66 | 2023 | -0.76% | -0.18% | View data |
| 10 | 10 Netherlands | 1.95 | 2023 | +3.31% | +2.79% | View data |
