Eastern Asia: Acetic Acid Market 2024

Acetic Acid Market Size in Eastern Asia

The East Asian acetic acid market fell notably to $X in 2021, shrinking by -54% against the previous year. In general, consumption continues to indicate a abrupt curtailment. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Acetic Acid Production in Eastern Asia

In value terms, acetic acid production rose modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.8% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when the production volume increased by 36%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Acetic Acid Exports

Exports in Eastern Asia

In 2021, approx. X tons of acetic acid were exported in Eastern Asia; picking up by 131% compared with the year before. Overall, exports posted a strong increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, acetic acid exports skyrocketed to $X in 2021. In general, exports continue to indicate a remarkable increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China was the major exporter of acetic acid in Eastern Asia, with the volume of exports finishing at X tons, which was approx. 78% of total exports in 2021. Taiwan (Chinese) (X tons) ranks second in terms of the total exports with a 13% share, followed by South Korea (8.6%).

Exports from China increased at an average annual rate of +20.4% from 2012 to 2021. At the same time, Taiwan (Chinese) (+20.8%) and South Korea (+8.1%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +20.8% from 2012-2021. China (+12 p.p.) and Taiwan (Chinese) (+2.4 p.p.) significantly strengthened its position in terms of the total exports, while South Korea saw its share reduced by -10.6% from 2012 to 2021, respectively.

In value terms, China ($X) remains the largest acetic acid supplier in Eastern Asia, comprising 67% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 22% share of total exports.

In China, acetic acid exports increased at an average annual rate of +20.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (+27.0% per year) and South Korea (+8.1% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, surging by 53% against the previous year. In general, the export price recorded a relatively flat trend pattern. Over the period under review, the export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+5.2%), while the other leaders experienced more modest paces of growth.

Acetic Acid Imports

Imports in Eastern Asia

In 2021, imports of acetic acid in Eastern Asia soared to X tons, jumping by 74% on 2020. Overall, imports saw a prominent expansion. The pace of growth was the most pronounced in 2015 when imports increased by 91% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, acetic acid imports soared to $X in 2021. Over the period under review, imports posted a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Japan (X tons) and South Korea (X tons) dominates imports structure, together making up 94% of total imports. Taiwan (Chinese) (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Japan (with a CAGR of +18.7%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Japan ($X), South Korea ($X) and Taiwan (Chinese) ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 97% of total imports.

Among the main importing countries, Japan, with a CAGR of +21.6%, 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 2021, the import price in Eastern Asia amounted to $X per ton, growing by 66% against the previous year. Import price indicated a measured increase from 2012 to 2021: its price increased at an average annual rate of +3.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, import prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+7.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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