Asia: Market for Salts Of Acetic Acid 2024

Market Size for Salts Of Acetic Acid in Asia

The Asian salts of acetic acid market dropped modestly to $X in 2022, which is down by -4% against the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Salts Of Acetic Acid in Asia

In value terms, salts of acetic acid production dropped slightly to $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 18%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Exports of Salts Of Acetic Acid

Exports in Asia

In 2022, overseas shipments of salts of acetic acid increased by 4.8% to X tons, rising for the sixth consecutive year after two years of decline. Overall, exports, however, showed a slight setback. The pace of growth was the most pronounced in 2014 with an increase of 48%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, salts of acetic acid exports expanded slightly to $X in 2022. Over the period under review, exports saw a modest expansion. The most prominent rate of growth was recorded in 2021 with an increase of 76%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

China represented the main exporting country with an export of about X tons, which amounted to 74% of total exports. It was distantly followed by India (X tons), achieving a 17% share of total exports. The following exporters - Japan (X tons) and Taiwan (Chinese) (X tons) - each finished at a 6.2% share of total exports.

Exports from China increased at an average annual rate of +6.9% from 2012 to 2022. At the same time, India (+10.9%), Taiwan (Chinese) (+4.9%) and Japan (+3.3%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia, with a CAGR of +10.9% from 2012-2022. China (+42 p.p.) and India (+12 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest salts of acetic acid supplier in Asia, comprising 64% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 13% share of total exports. It was followed by India, with a 12% share.

From 2012 to 2022, the average annual growth rate of value in China stood at +5.0%. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (+5.9% per year) and India (+5.2% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, falling by -1.9% against the previous year. Over the last decade, it increased at an average annual rate of +3.3%. The growth pace was the most rapid in 2013 an increase of 49% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+0.9%), while the other leaders experienced a decline in the export price figures.

Imports of Salts Of Acetic Acid

Imports in Asia

In 2022, the amount of salts of acetic acid imported in Asia contracted to X tons, shrinking by -13.1% on the previous year. Over the period under review, imports showed a perceptible decrease. The pace of growth was the most pronounced in 2021 when imports increased by 21%. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, salts of acetic acid imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of +2.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of 31%. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, India (X tons), distantly followed by China (X tons), South Korea (X tons), Japan (X tons), Indonesia (X tons), Thailand (X tons) and Turkey (X tons) were the main importers of salts of acetic acid, together achieving 79% of total imports. Vietnam (X tons), Taiwan (Chinese) (X tons) and the United Arab Emirates (X tons) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by China (with a CAGR of +27.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X) constitutes the largest market for imported salts of acetic acid in Asia, comprising 52% of total imports. The second position in the ranking was held by China ($X), with a 9.3% share of total imports. It was followed by South Korea, with an 8.9% share.

From 2012 to 2022, the average annual growth rate of value in India stood at +6.1%. The remaining importing countries recorded the following average annual rates of imports growth: China (+14.2% per year) and South Korea (+5.7% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, rising by 32% against the previous year. Import price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+5.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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