China: Market for Salts Of Acetic Acid 2024

Market Size for Salts Of Acetic Acid in China

The Chinese salts of acetic acid market fell to $X in 2022, dropping by -6.3% against the previous year. In general, consumption, however, recorded a relatively flat trend pattern. Salts of acetic acid consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Production of Salts Of Acetic Acid in China

In value terms, salts of acetic acid production declined modestly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the production volume increased by 21%. Salts of acetic acid production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Exports of Salts Of Acetic Acid

Exports from China

In 2022, overseas shipments of salts of acetic acid increased by 8.3% to X tons, rising for the sixth year in a row after two years of decline. Overall, total exports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +6.9% 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 +135.2% against 2016 indices. The most prominent rate of growth was recorded in 2017 with an increase of 61% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in years to come.

In value terms, salts of acetic acid exports rose rapidly to $X in 2022. In general, exports recorded a prominent increase. The pace of growth appeared the most rapid in 2021 with an increase of 66% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

The United States (X tons), Russia (X tons) and Germany (X tons) were the main destinations of salts of acetic acid exports from China, with a combined 33% share of total exports. South Africa, Japan, Australia, South Korea, Egypt, Canada, Poland, Mexico, Vietnam and Thailand lagged somewhat behind, together comprising a further 42%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mexico (with a CAGR of +19.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for salts of acetic acid exported from China were the United States ($X), Russia ($X) and Germany ($X), with a combined 29% share of total exports. South Korea, Australia, Japan, South Africa, Thailand, Egypt, Mexico, Canada, Poland and Vietnam lagged somewhat behind, together accounting for a further 37%.

Mexico, with a CAGR of +25.2%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average salts of acetic acid export price stood at $X per ton in 2022, growing by 1.5% against the previous year. Overall, the export price, however, continues to indicate a slight descent. The pace of growth was the most pronounced in 2021 an increase of 42%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to South Africa ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+5.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Salts Of Acetic Acid

Imports into China

In 2022, supplies from abroad of salts of acetic acid decreased by -22.1% to X tons for the first time since 2016, thus ending a five-year rising trend. In general, imports, however, saw significant growth. The growth pace was the most rapid in 2021 when imports increased by 142%. As a result, imports attained the peak of X tons, and then dropped notably in the following year.

In value terms, salts of acetic acid imports surged to $X in 2022. Overall, imports, however, recorded a prominent expansion. The growth pace was the most rapid in 2021 when imports increased by 75% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, India (X tons) constituted the largest supplier of salts of acetic acid to China, accounting for a 58% share of total imports. Moreover, salts of acetic acid imports from India exceeded the figures recorded by the second-largest supplier, the United States (X tons), fourfold. Germany (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from India totaled +71.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+30.4% per year) and Germany (+41.8% per year).

In value terms, the largest salts of acetic acid suppliers to China were the United States ($X), Thailand ($X) and Germany ($X), with a combined 68% share of total imports. India, France, South Korea, Japan and Belgium lagged somewhat behind, together comprising a further 24%.

In terms of the main suppliers, Belgium, with a CAGR of +74.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average salts of acetic acid import price amounted to $X per ton, picking up by 55% against the previous year. In general, the import price, however, saw a deep slump. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+4.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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