Southern Asia: Adipic Acid Market 2024

Adipic Acid Market Size in Southern Asia

The South Asian adipic acid market dropped to $X in 2022, flattening at the previous year. The market value increased at an average annual rate of +3.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level at $X in 2019; afterwards, it flattened through to 2022.

Adipic Acid Production in Southern Asia

In value terms, adipic acid production fell modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.0% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2017 when the production volume increased by 17% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Adipic Acid Exports

Exports in Southern Asia

In 2022, after six years of growth, there was significant decline in overseas shipments of adipic acid, its salts and esters, when their volume decreased by -39% to X tons. Overall, exports, however, posted a strong increase. The growth pace was the most rapid in 2013 when exports increased by 54%. The volume of export peaked at X tons in 2021, and then reduced remarkably in the following year.

In value terms, adipic acid exports contracted significantly to $X in 2022. In general, exports, however, posted a remarkable increase. The pace of growth was the most pronounced in 2021 with an increase of 121% against the previous year. As a result, the exports attained the peak of $X, and then reduced markedly in the following year.

Exports by Country

In 2022, India (X tons) was the main exporter of adipic acid, its salts and esters in Southern Asia, generating 99.9% of total export.

India was also the fastest-growing in terms of the adipic acid, its salts and esters exports, with a CAGR of +11.6% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest adipic acid supplier in Southern Asia.

In India, adipic acid exports expanded at an average annual rate of +12.8% over the period from 2012-2022.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, rising by 17% against the previous year. Export price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, adipic acid export price increased by +73.0% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the export price increased by 47%. Over the period under review, the export prices attained the peak figure in 2022 and is expected to retain growth in years to come.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to +1.1% per year.

Adipic Acid Imports

Imports in Southern Asia

In 2022, adipic acid imports in Southern Asia totaled X tons, surging by 11% compared with 2021. In general, imports enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2020 when imports increased by 34% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in the immediate term.

In value terms, adipic acid imports skyrocketed to $X in 2022. Overall, imports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2021 with an increase of 85%. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in the near future.

Imports by Country

India represented the major importer of adipic acid, its salts and esters in Southern Asia, with the volume of imports finishing at X tons, which was approx. 71% of total imports in 2022. It was distantly followed by Pakistan (X tons), making up a 28% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to adipic acid imports into India stood at +11.9%. At the same time, Pakistan (+51.8%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +51.8% from 2012-2022. From 2012 to 2022, the share of Pakistan increased by +26 percentage points.

In value terms, India ($X) constitutes the largest market for imported adipic acid, its salts and esters in Southern Asia, comprising 72% of total imports. The second position in the ranking was held by Pakistan ($X), with a 27% share of total imports.

In India, adipic acid imports increased at an average annual rate of +12.6% over the period from 2012-2022.

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2022, growing by 13% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the import price increased by 57%. Over the period under review, import prices hit record highs at $X per ton in 2014; afterwards, it flattened through to 2022.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while Pakistan stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+0.6%).

Source: IndexBox Platform

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