Russian Federation: Acetic Acid Market 2024

Acetic Acid Market Size in the Russian Federation

In 2021, the Russian acetic acid market was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +4.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Acetic Acid Production in the Russian Federation

In value terms, acetic acid production surged to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.0% 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 with an increase of 41%. Acetic acid production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Acetic Acid Exports

Exports from the Russian Federation

Acetic acid exports from Russia shrank markedly to X tons in 2021, reducing by -46.8% compared with the previous year's figure. In general, exports showed a deep setback. The most prominent rate of growth was recorded in 2019 when exports increased by 62%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, acetic acid exports dropped rapidly to $X in 2021. Overall, exports saw a deep downturn. The most prominent rate of growth was recorded in 2019 when exports increased by 64% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Kazakhstan (X tons), Finland (X tons) and Italy (X tons) were the main destinations of acetic acid exports from Russia, together comprising 61% of total exports. These countries were followed by Belarus, Ukraine, Turkey and Azerbaijan, which together accounted for a further 32%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belarus (with a CAGR of +57.9%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for acetic acid exported from Russia were Kazakhstan ($X), Belarus ($X) and Finland ($X), together accounting for 56% of total exports.

Belarus, with a CAGR of +49.3%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average acetic acid export price stood at $X per ton in 2021, rising by 33% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.9%. The pace of growth appeared the most rapid in 2018 when the average export price increased by 35%. Over the period under review, the average export prices reached the maximum in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Ukraine ($X per ton), while the average price for exports to Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+25.3%), while the prices for the other major destinations experienced more modest paces of growth.

Acetic Acid Imports

Imports into the Russian Federation

In 2021, purchases abroad of acetic acid increased by 64% to X tons, rising for the third year in a row after two years of decline. Over the period under review, imports, however, saw a deep setback. The most prominent rate of growth was recorded in 2016 when imports increased by 1,274% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, acetic acid imports skyrocketed to $X in 2021. In general, imports, however, faced a deep downturn. The pace of growth appeared the most rapid in 2016 with an increase of 510% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of acetic acid to Russia, accounting for a 66% share of total imports. Moreover, acetic acid imports from China exceeded the figures recorded by the second-largest supplier, Uzbekistan (X tons), fourfold. Serbia (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +100.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Uzbekistan (0.0% per year) and Serbia (+3.0% per year).

In value terms, China ($X) constituted the largest supplier of acetic acid to Russia, comprising 49% of total imports. The second position in the ranking was taken by Serbia ($X), with a 21% share of total imports. It was followed by Uzbekistan, with a 21% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +99.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Serbia (+43.8% per year) and Uzbekistan (0.0% per year).

Import Prices by Country

In 2021, the average acetic acid import price amounted to $X per ton, growing by 56% against the previous year. Over the period under review, the import price saw a prominent expansion. The most prominent rate of growth was recorded in 2015 when the average import price increased by 119%. As a result, import price reached the peak level of $X per ton. From 2016 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Serbia (+39.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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