Canada: Market for Salts Of Acetic Acid 2024

Market Size for Salts Of Acetic Acid in Canada

In 2022, after five years of growth, there was significant decline in the Canadian salts of acetic acid market, when its value decreased by -15.1% to $X. Over the period under review, consumption recorded a noticeable decline. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Salts Of Acetic Acid in Canada

In value terms, salts of acetic acid production reduced modestly to $X in 2022 estimated in export price. Over the period under review, production showed a perceptible curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 69%. Salts of acetic acid production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Salts Of Acetic Acid

Exports from Canada

In 2022, shipments abroad of salts of acetic acid increased by 37% to X tons, rising for the third year in a row after two years of decline. Over the period under review, total exports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +6.8% 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 +68.8% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, salts of acetic acid exports reached $X in 2022. Overall, exports posted a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of 65% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for salts of acetic acid exports from Canada, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +6.8%.

In value terms, the United States ($X) also remains the key foreign market for salts of acetic acid exports from Canada.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +8.5%.

Export Prices by Country

The average salts of acetic acid export price stood at $X per ton in 2022, with a decrease of -25.8% against the previous year. In general, export price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, salts of acetic acid export price increased by +46.8% against 2017 indices. The growth pace was the most rapid in 2021 an increase of 48% against the previous year. As a result, the export price reached the peak level of $X per ton, and then fell markedly in the following year.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +1.6% per year.

Imports of Salts Of Acetic Acid

Imports into Canada

For the seventh year in a row, Canada recorded growth in purchases abroad of salts of acetic acid, which increased by 4.1% to X tons in 2022. Over the period under review, imports recorded a resilient increase. The pace of growth appeared the most rapid in 2020 with an increase of 54%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, salts of acetic acid imports expanded to $X in 2022. Overall, total imports indicated a measured expansion from 2012 to 2022: its value 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. Based on 2022 figures, imports increased by +81.5% against 2016 indices. The most prominent rate of growth was recorded in 2017 with an increase of 24%. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the near future.

Imports by Country

The United States (X tons), China (X tons) and the Netherlands (X tons) were the main suppliers of salts of acetic acid imports to Canada, with a combined 93% share of total imports. Hong Kong SAR and India lagged somewhat behind, together comprising a further 4.7%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hong Kong SAR (with a CAGR of +125.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of salts of acetic acid to Canada, comprising 57% of total imports. The second position in the ranking was held by China ($X), with a 25% share of total imports. It was followed by the Netherlands, with a 9.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to +4.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+3.9% per year) and the Netherlands (+9.0% per year).

Import Prices by Country

In 2022, the average salts of acetic acid import price amounted to $X per ton, approximately mirroring the previous year. In general, the import price, however, continues to indicate a noticeable slump. The pace of growth was the most pronounced in 2015 when the average import price increased by 38% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for China ($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 (-1.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :