CIS: Market for Salts Of Acetic Acid 2024

Market Size for Salts Of Acetic Acid in CIS

The CIS salts of acetic acid market contracted modestly to $X in 2022, which is down by -4.2% against the previous year. Overall, consumption continues to indicate a slight reduction. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Production of Salts Of Acetic Acid in CIS

In value terms, salts of acetic acid production contracted modestly to $X in 2022 estimated in export price. Over the period under review, production showed a perceptible contraction. The pace of growth was the most pronounced in 2017 when the production volume increased by 38%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Exports of Salts Of Acetic Acid

Exports in CIS

After four years of growth, overseas shipments of salts of acetic acid decreased by -9.3% to X tons in 2022. In general, exports, however, saw a strong increase. The pace of growth was the most pronounced in 2013 with an increase of 90%. Over the period under review, the exports reached the maximum at X tons in 2021, and then declined in the following year.

In value terms, salts of acetic acid exports shrank to $X in 2022. Over the period under review, exports, however, showed a resilient increase. The pace of growth was the most pronounced in 2013 with an increase of 76%. Over the period under review, the exports attained the maximum at $X in 2021, and then fell in the following year.

Exports by Country

In 2022, Russia (X tons) was the key exporter of salts of acetic acid in the CIS, making up 99% of total export.

Russia was also the fastest-growing in terms of the salts of acetic acid exports, with a CAGR of +11.9% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) also remains the largest salts of acetic acid supplier in the CIS.

In Russia, salts of acetic acid exports increased at an average annual rate of +12.3% over the period from 2012-2022.

Export Prices by Country

The export price in the CIS stood at $X per ton in 2022, reducing by -5% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the export price increased by 115% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for Russia amounted to +0.4% per year.

Imports of Salts Of Acetic Acid

Imports in CIS

Salts of acetic acid imports fell to X tons in 2022, with a decrease of -5.6% against 2021. Over the period under review, imports, however, saw a strong increase. The most prominent rate of growth was recorded in 2014 with an increase of 47% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2021, and then declined in the following year.

In value terms, salts of acetic acid imports fell sharply to $X in 2022. In general, imports, however, enjoyed a measured expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 59% against the previous year. As a result, imports reached the peak of $X, and then dropped rapidly in the following year.

Imports by Country

Russia prevails in imports structure, finishing at X tons, which was approx. 90% of total imports in 2022. The following importers - Kazakhstan (X tons), Belarus (X tons) and Uzbekistan (X tons) - together made up 8.3% of total imports.

Imports into Russia increased at an average annual rate of +6.1% from 2012 to 2022. At the same time, Kazakhstan (+21.1%), Uzbekistan (+16.6%) and Belarus (+7.8%) displayed positive paces of growth. Moreover, Kazakhstan emerged as the fastest-growing importer imported in the CIS, with a CAGR of +21.1% from 2012-2022. While the share of Kazakhstan (+2.9 p.p.) and Uzbekistan (+1.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Russia (-6.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported salts of acetic acid in the CIS, comprising 82% of total imports. The second position in the ranking was held by Belarus ($X), with a 5.9% share of total imports. It was followed by Kazakhstan, with a 5.7% share.

From 2012 to 2022, the average annual growth rate of value in Russia stood at +2.5%. The remaining importing countries recorded the following average annual rates of imports growth: Belarus (+6.6% per year) and Kazakhstan (+19.9% per year).

Import Prices by Country

In 2022, the import price in the CIS amounted to $X per ton, waning by -10.6% against the previous year. Overall, the import price continues to indicate a noticeable shrinkage. The most prominent rate of growth was recorded in 2021 when the import price increased by 34%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Belarus ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+20.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :