Benzoic acid, its salts and esters market in Estonia

Earlier Report Observations

Estonian benzoic acid production increased from 48 018 tons in 2018 to a peak of 58 727 tons in 2021, largely driven by the capacity expansion at Eastman Chemical Company announced in July 2021. This expansion, undertaken in cooperation with Adven Oy, aimed to boost manufacturing and international distribution. After a dip in 2022-2023, output recovered to 50 790 tons in 2024, supported by the ongoing effects of Eastman's investment and rising European demand for preservatives.

The domestic market volume for benzoic acid in Estonia fluctuated significantly, dropping to 10 719 tons in 2020 as exports surged to 39 503 tons, reinforcing Estonia's position as a major global exporter. Global demand for benzoic acid as a food preservative fueled these export volumes, reducing domestic availability. Market volume then rose to 20 985 tons in 2022 when exports temporarily receded. By 2024, the domestic market settled at 17 281 tons, reflecting a balance between production levels and export flows.

Production benzoic acid, its salts and esters in Estonia

In value, 2018-2021, K $ US

In 2021, Estonia's production of benzoic acid, its salts and esters reached a value of 86 972 thousand US dollars, marking a solid 23.8% increase compared to 2020. The minimum value was recorded in 2020 at 70 258 thousand US dollars, which also saw the largest decline of 8.8%. Over the period from 2018 to 2021, production grew by 15.5%, translating to an annualized growth rate of 4.9%.

Annual dynamics of production in Estonia in value, 2018-2021, K $ US

In kind, 2018-2021, t

In 2021, Estonia produced 58 727 tonnes of benzoic acid, its salts and esters, showing a significant 17.1% increase compared to 2020. The largest decline occurred in 2020 at 2.9%. From 2018 to 2021, production rose by 22.3%, equating to an annualized growth rate of 6.9%.

Annual dynamics of production in Estonia in kind, 2018-2021, t

Exports benzoic acid, its salts and esters from Estonia

Exports in kind, t

Estonia's exports of benzoic acid, its salts and esters increased for the third consecutive year. In 2021, exports amounted to 44 884 tonnes, up by 13.6% compared to the previous year. Over the period from 2018 to 2021, exports grew by 35.9%, with a compound annual growth rate (CAGR) of 10.8%.

Annual dynamics of product's exports from Estonia in kind, 2018-2021, t

From 2018 to 2021, the United States (44.0% of exports in kind), Germany (6.9% of exports in kind), and France (6.7% of exports in kind) formed the core group of markets for Estonia's exports in kind, together accounting for 57.6% of total export flows.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Estonia in kind, 2018-2021

Exports in value, K $ US

Estonia's exports of benzoic acid, its salts and esters increased for the third consecutive year. In 2021, exports totaled 65 212 thousand US dollars, representing a significant 17.7% rise from the previous year. Over the period from 2018 to 2021, exports grew by 26.6%, with a compound annual growth rate (CAGR) of 8.2%.

Annual dynamics of product's exports from Estonia in value, 2018-2021, K $ US

From 2018 to 2021, the United States (36.1% of exports in value terms), the Netherlands (8.2% of exports in value terms), and Germany (7.3% of exports in value terms) led the structure of Estonia's exports in value terms, together representing 51.6% of total export flows.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Estonia in value, 2018-2021

Imports benzoic acid, its salts and esters to Estonia

Imports in kind, t

Estonia's imports of benzoic acid, its salts and esters showed noticeable fluctuations during the period. The largest decline was recorded in 2019 at 74.5%, with the minimum volume occurring in 2020 at 56 tonnes. In 2021, imports reached 155 tonnes, up by 178.7% compared to the previous year. From the peak in 2018 to the trough in 2020, imports changed by a factor of 4.2.

Annual dynamics of product's imports to Estonia in kind, 2018-2021, t

From 2018 to 2021, Romania (29.6% of imports in kind), the Netherlands (22.6% of imports in kind), and Germany (12.9% of imports in kind) were the top suppliers of benzoic acid, its salts and esters to Estonia, with their combined share reaching 65.2% of total imports in kind.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Estonia in kind, 2018-2021

Imports in value, K $ US

After a two-year decline, Estonia's imports of benzoic acid, its salts and esters increased. In 2021, imports amounted to 372 thousand US dollars, marking a solid 23.3% year-on-year gain. The minimum value was recorded in 2020 at 302 thousand US dollars, which also saw the largest decline of 21.3%. Over the period from 2018 to 2021, imports decreased by 8.6%, with a compound annual growth rate (CAGR) of -3.0%.

Annual dynamics of product's imports to Estonia in value, 2018-2021, K $ US

From 2018 to 2021, Estonia's imports of benzoic acid, its salts and esters came from a broad set of markets. Germany (23.1% of imports in value terms), the Netherlands (15.1% of imports in value terms), and China (10.4% of imports in value terms) together accounted for 48.6% of total imports in value terms, while many smaller destinations made up the remaining 51.4%.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Estonia in value, 2018-2021