In 2023, Germany led Europe in benzoic acid imports with a 22% share, followed by Belgium at 16.09% and the Netherlands at 11.08%. Notable year-on-year changes include a 7.21% increase in Denmark and a 5.25% rise in Spain, while France and Luxembourg saw declines of 4.57% and 4.07%, respectively. Malta showed the largest growth of 27.44%, whereas Estonia experienced a sharp decline of 31.12%. The compound annual growth rate (CAGR) over the past five years indicates variable growth, highlighting market fluctuations across countries.
Looking ahead, it will be essential to monitor Belgium and Denmark's growing shares and any potential recovery in countries that experienced declines. Additionally, shifts in trade policies within the European Union could impact future import shares, influencing the dynamics of benzoic acid demand across different countries.
Top countries in Import of Benzoic Acid Share by Country (Kilograms)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 22 | 2023 | +4.2% | +0.73% | View data |
| 2 | 2 Belgium | 16.09 | 2023 | +4.17% | +6.14% | View data |
| 3 | 3 Netherlands | 11.08 | 2023 | +6.19% | +0.25% | View data |
| 4 | 4 Italy | 10.58 | 2023 | +2.76% | -0.5% | View data |
| 5 | 5 France | 8.92 | 2023 | -5.89% | -4.57% | View data |
| 6 | 6 United Kingdom | 6.68 | 2023 | +1.46% | +2.3% | View data |
| 7 | 7 Denmark | 5.63 | 2023 | +4.67% | +7.21% | View data |
| 8 | 8 Spain | 4.86 | 2023 | +2.31% | +5.25% | View data |
| 9 | 9 Poland | 3.63 | 2023 | +1.76% | +1.08% | View data |
| 10 | 10 Luxembourg | 2.06 | 2023 | +28.67% | -4.07% | View data |
