South-Eastern Asia: Market for Salts Of Acetic Acid 2024

Market Size for Salts Of Acetic Acid in South-Eastern Asia

After two years of growth, the Southeast Asian salts of acetic acid market decreased by -5.6% to $X in 2022. Overall, consumption saw a perceptible descent. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Salts Of Acetic Acid in South-Eastern Asia

In value terms, salts of acetic acid production totaled $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 29%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Exports of Salts Of Acetic Acid

Exports in South-Eastern Asia

In 2022, overseas shipments of salts of acetic acid were finally on the rise to reach X tons after two years of decline. In general, exports, however, recorded a abrupt slump. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, salts of acetic acid exports soared to $X in 2022. Over the period under review, exports continue to indicate a relatively flat trend pattern. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Thailand prevails in exports structure, accounting for X tons, which was approx. 81% of total exports in 2022. It was distantly followed by Malaysia (X tons) and Singapore (X tons), together creating a 16% share of total exports. Indonesia (X tons) held a little share of total exports.

Thailand was also the fastest-growing in terms of the salts of acetic acid exports, with a CAGR of +2.5% from 2012 to 2022. Malaysia (-2.8%), Indonesia (-3.6%) and Singapore (-27.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Thailand and Malaysia increased by +58 and +4.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest salts of acetic acid supplier in South-Eastern Asia, comprising 86% of total exports. The second position in the ranking was taken by Singapore ($X), with a 10% share of total exports. It was followed by Malaysia, with a 3% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Thailand stood at +11.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (-15.4% per year) and Malaysia (-2.0% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, growing by 24% against the previous year. Over the period under review, the export price posted a prominent expansion. The most prominent rate of growth was recorded in 2020 when the export price increased by 99% against the previous year. Over the period under review, the export prices attained the maximum in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+16.7%), while the other leaders experienced more modest paces of growth.

Imports of Salts Of Acetic Acid

Imports in South-Eastern Asia

In 2022, imports of salts of acetic acid in South-Eastern Asia contracted modestly to X tons, dropping by -3.2% compared with the year before. Overall, imports continue to indicate a abrupt slump. The growth pace was the most rapid in 2021 when imports increased by 28%. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, salts of acetic acid imports expanded to $X in 2022. In general, imports recorded a abrupt slump. The growth pace was the most rapid in 2021 when imports increased by 36% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the three major importers of salts of acetic acid, namely Indonesia, Thailand and Vietnam, represented more than two-thirds of total import. It was distantly followed by Singapore (X tons), creating a 7.6% share of total imports. The following importers - Malaysia (X tons) and the Philippines (X tons) - each recorded an 8.9% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Vietnam (with a CAGR of +4.3%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest salts of acetic acid importing markets in South-Eastern Asia were Indonesia ($X), Thailand ($X) and Vietnam ($X), with a combined 77% share of total imports. Singapore, Malaysia and the Philippines lagged somewhat behind, together comprising a further 22%.

The Philippines, with a CAGR of +2.7%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2022, picking up by 6.2% against the previous year. Import price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, salts of acetic acid import price increased by +91.6% against 2016 indices. The pace of growth appeared the most rapid in 2017 an increase of 22% against the previous year. Over the period under review, import prices reached the maximum in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+10.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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