Eastern Asia: Acetic Anhydride Market 2024

Acetic Anhydride Market Size in Eastern Asia

After two years of decline, the East Asian acetic anhydride market increased by 22% to $X in 2021. Overall, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Acetic Anhydride Production in Eastern Asia

In value terms, acetic anhydride production surged to $X in 2021 estimated in export price. In general, production recorded a prominent increase. The pace of growth appeared the most rapid in 2017 when the production volume increased by 170%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Acetic Anhydride Exports

Exports in Eastern Asia

After two years of decline, overseas shipments of acetic anhydride increased by 30% to X tons in 2021. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 52% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, acetic anhydride exports surged to $X in 2021. Total exports indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China was the key exporting country with an export of around X tons, which amounted to 67% of total exports. It was distantly followed by Japan (X tons), creating a 32% share of total exports.

Exports from China decreased at an average annual rate of -1.7% from 2012 to 2021. At the same time, Japan (+1.8%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +1.8% from 2012-2021. Japan (+6.5 p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by -6.8% from 2012 to 2021, respectively.

In value terms, China ($X) remains the largest acetic anhydride supplier in Eastern Asia, comprising 67% of total exports. The second position in the ranking was held by Japan ($X), with a 32% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in China was relatively modest.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, increasing by 50% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.3%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while Japan amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.2%).

Acetic Anhydride Imports

Imports in Eastern Asia

In 2021, the amount of acetic anhydride imported in Eastern Asia reached X tons, with an increase of 3.1% on the previous year's figure. Overall, imports, however, showed a abrupt setback. The most prominent rate of growth was recorded in 2018 when imports increased by 20%. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, acetic anhydride imports soared to $X in 2021. Over the period under review, imports, however, recorded a pronounced decrease. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, South Korea (X tons) represented the main importer of acetic anhydride, mixing up 73% of total imports. Japan (X tons) held an 18% share (based on physical terms) of total imports, which put it in second place, followed by China (4.6%). Taiwan (Chinese) (X tons) took a little share of total imports.

South Korea was also the fastest-growing in terms of the acetic anhydride imports, with a CAGR of +3.1% from 2012 to 2021. Taiwan (Chinese) (-2.7%), Japan (-5.0%) and China (-29.3%) illustrated a downward trend over the same period. South Korea (+44 p.p.) and Japan (+3.4 p.p.) significantly strengthened its position in terms of the total imports, while China saw its share reduced by -49.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X) constitutes the largest market for imported acetic anhydride in Eastern Asia, comprising 78% of total imports. The second position in the ranking was held by Japan ($X), with a 16% share of total imports. It was followed by Taiwan (Chinese), with a 3.7% share.

In South Korea, acetic anhydride imports expanded at an average annual rate of +6.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Japan (-6.5% per year) and Taiwan (Chinese) (-4.9% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, increasing by 54% against the previous year. Over the last nine-year period, it increased at an average annual rate of +5.1%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was South Korea ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+3.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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