Eastern Asia: Carboxylic Acid Market 2025

Carboxylic Acid Market Size in Eastern Asia

The East Asian carboxylic acid market dropped markedly to $X in 2021, with a decrease of -15.8% against the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Carboxylic Acid Production in Eastern Asia

In value terms, carboxylic acid production shrank modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.8% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 20% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Carboxylic Acid Exports

Exports in Eastern Asia

Carboxylic acid exports soared to X tons in 2021, increasing by 28% compared with 2020 figures. Total exports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +8.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +35.2% against 2019 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, carboxylic acid exports skyrocketed to $X in 2021. Total exports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +36.8% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China prevails in exports structure, amounting to X tons, which was near 78% of total exports in 2021. South Korea (X tons) held the second position in the ranking, followed by Japan (X tons) and Taiwan (Chinese) (X tons). All these countries together took approx. 22% share of total exports.

Exports from China increased at an average annual rate of +8.7% from 2012 to 2021. At the same time, South Korea (+11.4%), Japan (+9.5%) and Taiwan (Chinese) (+1.7%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +11.4% from 2012-2021. While the share of China (+2.3 p.p.) and South Korea (+2 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Taiwan (Chinese) (-4.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest carboxylic acid supplier in Eastern Asia, comprising 72% of total exports. The second position in the ranking was taken by South Korea ($X), with an 11% share of total exports. It was followed by Japan, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China amounted to +6.7%. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (+9.3% per year) and Japan (+4.0% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, increasing by 4% against the previous year. Over the period under review, the export price, however, showed a pronounced setback. The most prominent rate of growth was recorded in 2018 when the export price increased by 9.5% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Japan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-1.8%), while the other leaders experienced a decline in the export price figures.

Carboxylic Acid Imports

Imports in Eastern Asia

In 2021, supplies from abroad of carboxylic acid with alcohol, phenol, aldehyde or ketone functions was finally on the rise to reach X tons after two years of decline. The total import volume increased at an average annual rate of +5.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, carboxylic acid imports soared to $X in 2021. The total import value increased at an average annual rate of +3.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Japan (X tons), China (X tons) and South Korea (X tons) was the largest importer of carboxylic acid with alcohol, phenol, aldehyde or ketone functions in Eastern Asia, generating 88% of total import. It was distantly followed by Taiwan (Chinese) (X tons), creating an 11% share of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +9.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and South Korea ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 93% share of total imports.

In terms of the main importing countries, China, with a CAGR of +7.7%, 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 Eastern Asia amounted to $X per ton, remaining relatively unchanged against the previous year. Over the period under review, the import price saw a slight reduction. The most prominent rate of growth was recorded in 2018 when the import price increased by 6.4%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Japan ($X per ton), while Taiwan (Chinese) ($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) (-0.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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