CIS: Acetic Acid Market 2024

Acetic Acid Market Size in CIS

The CIS acetic acid market was finally on the rise to reach $X in 2021, after two years of decline. The total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +7.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2021 and is expected to retain growth in years to come.

Acetic Acid Production in CIS

In value terms, acetic acid production rose significantly to $X in 2021 estimated in export price. The total production indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -13.3% against 2018 indices. The growth pace was the most rapid in 2018 when the production volume increased by 48%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Acetic Acid Exports

Exports in CIS

In 2021, approx. X tons of acetic acid were exported in the CIS; waning by -43% compared with the previous year's figure. Overall, exports continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2019 with an increase of 59% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, acetic acid exports reduced sharply to $X in 2021. Over the period under review, exports continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2019 with an increase of 60% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Russia dominates exports structure, finishing at X tons, which was near 93% of total exports in 2021. It was distantly followed by Uzbekistan (X tons), creating a 6.6% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to acetic acid exports from Russia stood at -11.8%. At the same time, Uzbekistan (+38.7%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +38.7% from 2012-2021. From 2012 to 2021, the share of Uzbekistan increased by +6.6 percentage points.

In value terms, Russia ($X) remains the largest acetic acid supplier in the CIS, comprising 86% of total exports. The second position in the ranking was held by Uzbekistan ($X), with a 14% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Russia stood at -10.1%.

Export Prices by Country

The export price in the CIS stood at $X per ton in 2021, jumping by 45% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.8%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Uzbekistan ($X per ton), while Russia totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+20.5%).

Acetic Acid Imports

Imports in CIS

In 2021, after two years of growth, there was decline in purchases abroad of acetic acid, when their volume decreased by -3.1% to X tons. Over the period under review, imports faced a abrupt slump. The most prominent rate of growth was recorded in 2016 when imports increased by 70% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, acetic acid imports surged to $X in 2021. In general, imports continue to indicate a deep downturn. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Russia (X tons) and Kazakhstan (X tons) dominates imports structure, together mixing up 72% of total imports. Belarus (X tons) ranks next in terms of the total imports with a 5.3% share, followed by Azerbaijan (5%), Uzbekistan (4.8%), Tajikistan (4.6%) and Kyrgyzstan (4.5%).

From 2012 to 2021, the biggest increases were recorded for Uzbekistan (with a CAGR of +48.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest acetic acid importing markets in the CIS were Russia ($X), Kazakhstan ($X) and Azerbaijan ($X), with a combined 79% share of total imports. These countries were followed by Uzbekistan, Kyrgyzstan, Belarus and Tajikistan, which together accounted for a further 16%.

In terms of the main importing countries, Uzbekistan, with a CAGR of +68.8%, saw the highest growth rate of 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 2021, the import price in the CIS amounted to $X per ton, jumping by 54% against the previous year. Import price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +8.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. 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 importing countries. In 2021, major importing countries recorded the following prices: in Uzbekistan ($X per ton) and Russia ($X per ton), while Tajikistan ($X per ton) and Belarus ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+13.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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