Asia: Polycarboxylic Acid Market 2024

Polycarboxylic Acid Market Size in Asia

The Asian polycarboxylic acid market reduced slightly to $X in 2022, declining by -2.6% against the previous year. In general, consumption saw a mild setback. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Polycarboxylic Acid Production in Asia

In value terms, polycarboxylic acid production declined to $X in 2022 estimated in export price. The total production indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +4.0% against 2020 indices. The pace of growth appeared the most rapid in 2014 when the production volume increased by 33%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Polycarboxylic Acid Exports

Exports in Asia

In 2022, the amount of polycarboxylic acids exported in Asia rose significantly to X tons, with an increase of 12% on the year before. Total exports indicated mild growth from 2012 to 2022: its volume increased at an average annual rate of +1.8% 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 +63.6% against 2016 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 24% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, polycarboxylic acid exports soared to $X in 2022. Overall, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 64% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

In 2022, China (X tons) represented the key exporter of polycarboxylic acids, mixing up 43% of total exports. It was distantly followed by South Korea (X tons), Taiwan (Chinese) (X tons) and Thailand (X tons), together mixing up a 48% share of total exports. The following exporters - Malaysia (X tons) and Indonesia (X tons) - each accounted for a 3.5% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by China (with a CAGR of +27.4%), while the other leaders experienced mixed trends in the exports figures.

In value terms, China ($X) remains the largest polycarboxylic acid supplier in Asia, comprising 47% of total exports. The second position in the ranking was taken by South Korea ($X), with a 23% share of total exports. It was followed by Taiwan (Chinese), with an 11% share.

In China, polycarboxylic acid exports increased at an average annual rate of +18.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (-5.7% per year) and Taiwan (Chinese) (-7.1% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, growing by 8% against the previous year. Overall, the export price, however, continues to indicate a mild contraction. The growth pace was the most rapid in 2021 an increase of 32% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in China ($X per ton) and South Korea ($X per ton), while Taiwan (Chinese) ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (-1.5%), while the other leaders experienced a decline in the export price figures.

Polycarboxylic Acid Imports

Imports in Asia

In 2022, approx. X tons of polycarboxylic acids were imported in Asia; with an increase of 9.8% against the previous year. Over the period under review, imports, however, showed a mild decrease. The most prominent rate of growth was recorded in 2021 when imports increased by 14% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, polycarboxylic acid imports expanded sharply to $X in 2022. In general, imports, however, saw a perceptible setback. The most prominent rate of growth was recorded in 2021 with an increase of 59% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Turkey (X tons) and India (X tons) were the largest importers of polycarboxylic acids in 2022, amounting to approx. 27% and 27% of total imports, respectively. Vietnam (X tons) ranks next in terms of the total imports with an 8.6% share, followed by Oman (8%), China (6.9%) and Saudi Arabia (4.5%). Japan (X tons) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +18.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), India ($X) and China ($X) were the countries with the highest levels of imports in 2022, with a combined 60% share of total imports.

Turkey, with a CAGR of +15.3%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, growing by 3.7% against the previous year. Overall, the import price, however, saw a mild descent. The most prominent rate of growth was recorded in 2021 an increase of 40% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+1.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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