U.S.: Monocarboxylic Acid Market 2024

Monocarboxylic Acid Market Size in the U.S.

The U.S. monocarboxylic acid market was estimated at $X in 2022, flattening at the previous year. Over the period under review, the total consumption indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +64.2% against 2016 indices. Monocarboxylic acid consumption peaked in 2022 and is expected to retain growth in the near future.

Monocarboxylic Acid Production in the U.S.

In value terms, monocarboxylic acid production reduced modestly to $X in 2022. In general, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by 38%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Monocarboxylic Acid Exports

Exports from the U.S.

In 2022, the amount of acrylic acid and its salts and other monocarboxylic acid exported from the United States fell to X tons, reducing by -13.5% against the previous year's figure. In general, exports continue to indicate a perceptible descent. The pace of growth appeared the most rapid in 2013 with an increase of 68%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, monocarboxylic acid exports totaled $X in 2022. The total export value increased at an average annual rate of +1.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when exports increased by 25%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Mexico (X tons) was the main destination for monocarboxylic acid exports from the United States, accounting for a 61% share of total exports. Moreover, monocarboxylic acid exports to Mexico exceeded the volume sent to the second major destination, Brazil (X tons), fourfold. Canada (X tons) ranked third in terms of total exports with an 8.2% share.

From 2012 to 2022, the average annual growth rate of volume to Mexico totaled +4.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (-9.6% per year) and Canada (-0.7% per year).

In value terms, the largest markets for monocarboxylic acid exported from the United States were Mexico ($X), Canada ($X) and Brazil ($X), together accounting for 67% of total exports. South Korea, the Netherlands and Peru lagged somewhat behind, together accounting for a further 8.2%.

South Korea, with a CAGR of +28.4%, 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 more modest paces of growth.

Export Prices by Country

In 2022, the average monocarboxylic acid export price amounted to $X per ton, picking up by 17% against the previous year. Over the period under review, export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, monocarboxylic acid export price increased by +85.7% against 2016 indices. The growth pace was the most rapid in 2019 when the average export price increased by 42%. The export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+9.6%), while the prices for the other major destinations experienced more modest paces of growth.

Monocarboxylic Acid Imports

Imports into the U.S.

In 2022, supplies from abroad of acrylic acid and its salts and other monocarboxylic acid increased by 4.7% to X tons, rising for the second year in a row after two years of decline. Overall, total imports indicated temperate growth from 2012 to 2022: its volume increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +85.2% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 77% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.

In value terms, monocarboxylic acid imports skyrocketed to $X in 2022. Over the period under review, imports saw buoyant growth. The most prominent rate of growth was recorded in 2021 with an increase of 28% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest monocarboxylic acid supplier to the United States, with a 54% share of total imports. Moreover, monocarboxylic acid imports from China exceeded the figures recorded by the second-largest supplier, Belgium (X tons), fourfold. India (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+7.9% per year) and India (+17.5% per year).

In value terms, the largest monocarboxylic acid suppliers to the United States were China ($X), India ($X) and Germany ($X), with a combined 61% share of total imports. Mexico, Belgium, Malaysia and Indonesia lagged somewhat behind, together comprising a further 10%.

In terms of the main suppliers, Indonesia, with a CAGR of +39.5%, recorded the highest rates of growth with regard to 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 monocarboxylic acid import price stood at $X per ton in 2022, surging by 13% against the previous year. Overall, the import price showed moderate growth. The most prominent rate of growth was recorded in 2019 an increase of 62% against the previous year. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+10.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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