Canada: Acetic Acid Market 2024

Acetic Acid Market Size in Canada

The Canadian acetic acid market expanded rapidly to $X in 2021, surging by 5.2% against the previous year. Overall, the total consumption indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +24.2% against 2018 indices. Acetic acid consumption peaked in 2021 and is likely to see steady growth in years to come.

Acetic Acid Production in Canada

In value terms, acetic acid production reduced slightly to $X in 2021 estimated in export price. Over the period under review, the total production indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +7.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +27.7% against 2018 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 48% against the previous year. Acetic acid production peaked at $X in 2020, and then contracted in the following year.

Acetic Acid Exports

Exports from Canada

Acetic acid exports from Canada shrank to X tons in 2021, waning by -10% compared with 2020 figures. Over the period under review, total exports indicated mild growth from 2012 to 2021: its volume increased at an average annual rate of +1.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -31.3% against 2018 indices. The pace of growth appeared the most rapid in 2014 when exports increased by 26% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, acetic acid exports expanded significantly to $X in 2021. The total export value increased at an average annual rate of +3.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 16%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for acetic acid exports from Canada, with a 90% share of total exports. Moreover, acetic acid exports to the United States exceeded the volume sent to the second major destination, Japan (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+214.0% per year) and Cuba (+45.2% per year).

In value terms, the United States ($X) remains the key foreign market for acetic acid exports from Canada, comprising 87% of total exports. The second position in the ranking was held by Japan ($X), with an 8.9% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at +1.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+207.6% per year) and Cuba (+41.6% per year).

Export Prices by Country

In 2021, the average acetic acid export price amounted to $X per ton, growing by 22% against the previous year. Over the last nine years, it increased at an average annual rate of +1.6%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Cuba ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+1.4%), while the prices for the other major destinations experienced a decline.

Acetic Acid Imports

Imports into Canada

In 2021, purchases abroad of acetic acid increased by 19% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports, however, recorded a relatively flat trend pattern. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, acetic acid imports surged to $X in 2021. In general, total imports indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the United States (X tons) was the main supplier of acetic acid to Canada, accounting for a 97% share of total imports. It was followed by China (X tons), with a 2% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States was relatively modest.

In value terms, the United States ($X) constituted the largest supplier of acetic acid to Canada, comprising 96% of total imports. The second position in the ranking was taken by China ($X), with a 2.7% share of total imports.

From 2012 to 2021, the average annual growth rate of value from the United States stood at +1.6%.

Import Prices by Country

In 2021, the average acetic acid import price amounted to $X per ton, with an increase of 38% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.6%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while the price for the United States stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+2.5%).

Source: IndexBox Platform

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