Report Update Nov 1, 2024

Sri Lanka - Acetic Acid - Market Analysis, Forecast, Size, Trends and Insights

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Sri Lanka: Acetic Acid Market 2024

Acetic Acid Market Size in Sri Lanka

In 2021, the Sri Lankan acetic acid market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption, however, posted a strong increase. Over the period under review, the market reached the maximum level in 2021 and is likely to continue growth in the near future.

Acetic Acid Exports

Exports from Sri Lanka

In 2021, shipments abroad of acetic acid increased by 1,139% to X tons, rising for the second year in a row after seven years of decline. Over the period under review, exports recorded buoyant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, acetic acid exports soared to $X in 2021. Overall, exports showed a resilient expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Maldives (X tons) was the main destination for acetic acid exports from Sri Lanka, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Maldives totaled +6.9%.

In value terms, Maldives ($X) emerged as the key foreign market for acetic acid exports from Sri Lanka.

From 2012 to 2021, the average annual rate of growth in terms of value to Maldives amounted to +11.0%.

Export Prices by Country

The average acetic acid export price stood at $X per ton in 2021, rising by 25% against the previous year. Over the period under review, export price indicated a measured expansion from 2012 to 2021: its price increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, acetic acid export price increased by +25.4% against 2019 indices. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for Maldives amounted to +3.8% per year.

Acetic Acid Imports

Imports into Sri Lanka

In 2021, supplies from abroad of acetic acid was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, total imports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +7.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -7.6% against 2018 indices. The growth pace was the most rapid in 2018 with an increase of 51%. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, acetic acid imports skyrocketed to $X in 2021. Overall, imports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 82% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

China (X tons), South Korea (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of acetic acid imports to Sri Lanka, together accounting for 57% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +19.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest acetic acid suppliers to Sri Lanka were China ($X), South Korea ($X) and Taiwan (Chinese) ($X), with a combined 66% share of total imports.

In terms of the main suppliers, China, with a CAGR of +25.6%, recorded 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

The average acetic acid import price stood at $X per ton in 2021, rising by 45% against the previous year. Overall, import price indicated a moderate expansion from 2012 to 2021: its price increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Seychelles ($X per ton) and India ($X per ton), while the price for Taiwan (Chinese) ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+10.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for acetic acid in the world?

The country with the largest volume of acetic acid consumption was India, accounting for 34% of total volume. Moreover, acetic acid consumption in India exceeded the figures recorded by the second-largest consumer, China, twofold. The United States ranked third in terms of total consumption with a 5.4% share.

What are the largest producers of acetic acid in the world?

The countries with the highest volumes of acetic acid production in 2021 were China, the United States and Malaysia, with a combined 58% share of global production. These countries were followed by the UK, Taiwan Chinese), Russia, South Korea, Singapore, Saudi Arabia, Japan, Iran and Serbia, which together accounted for a further 31%.

What are the leading suppliers of acetic acid to Sri Lanka?

In value terms, China, South Korea and Malaysia were the largest acetic acid suppliers to Sri Lanka, with a combined 65% share of total imports. Taiwan Chinese), Belgium and India lagged somewhat behind, together accounting for a further 30%.

What is the average export price for acetic acid in Sri Lanka?

The average acetic acid export price stood at $789 per ton in 2021, falling by -16.2% against the previous year.

What is the average import price for acetic acid in Sri Lanka?

The average acetic acid import price stood at $486 per ton in 2021, with a decrease of -32.2% against the previous year.

This report provides an in-depth analysis of the acetic acid market in Sri Lanka. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 20143271 - Acetic acid

Country coverage:

Sri Lanka

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Sri Lanka
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023