United Kingdom: Acetic Acid Market 2024

Acetic Acid Market Size in the UK

For the third year in a row, the UK acetic acid market recorded decline in sales value, which decreased by -18.6% to $X in 2021. In general, consumption saw a noticeable curtailment. Acetic acid consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Acetic Acid Production in the UK

In value terms, acetic acid production expanded significantly to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by 49% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Acetic Acid Exports

Exports from the UK

For the third year in a row, the UK recorded growth in overseas shipments of acetic acid, which increased by 9.3% to X tons in 2021. In general, total exports indicated a pronounced increase from 2012 to 2021: its volume increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +13.4% against 2017 indices. The most prominent rate of growth was recorded in 2013 with an increase of 57% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, acetic acid exports soared to $X in 2021. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by 46%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Germany (X tons) was the main destination for acetic acid exports from the UK, accounting for a 9.8% share of total exports. Moreover, acetic acid exports to Germany exceeded the volume sent to the second major destination, the Netherlands (X tons), twofold. Poland (X tons) ranked third in terms of total exports with a 2.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany totaled -2.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-8.7% per year) and Poland (+171.5% per year).

In value terms, the largest markets for acetic acid exported from the UK were Germany ($X), the Netherlands ($X) and Poland ($X), with a combined 21% share of total exports.

In terms of the main countries of destination, Poland, with a CAGR of +149.3%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average acetic acid export price amounted to $X per ton, growing by 15% against the previous year. Overall, the export price, however, saw a mild downturn. The pace of growth was the most pronounced in 2018 when the average export price increased by 28% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Belgium ($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 the United States (+8.6%), while the prices for the other major destinations experienced more modest paces of growth.

Acetic Acid Imports

Imports into the UK

Acetic acid imports into the UK contracted modestly to X tons in 2021, flattening at the previous year's figure. Overall, imports recorded a abrupt decrease. The most prominent rate of growth was recorded in 2014 when imports increased by 61% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, acetic acid imports expanded rapidly to $X in 2021. Over the period under review, imports saw a slight reduction. The most prominent rate of growth was recorded in 2014 with an increase of 76%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

The Netherlands (X tons), Belgium (X tons) and Norway (X tons) were the main suppliers of acetic acid imports to the UK, with a combined 69% share of total imports. Germany, Sweden, Poland and Ireland lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +172.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Belgium ($X) and Germany ($X) appeared to be the largest acetic acid suppliers to the UK, together comprising 79% of total imports. Norway, Sweden, Poland and Ireland lagged somewhat behind, together accounting for a further 16%.

Poland, with a CAGR of +145.9%, saw the highest rates of growth with regard to the value of imports, among the main suppliers 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, picking up by 10% against the previous year. Over the period under review, import price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +5.0% 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 import price increased by +71.2% against 2017 indices. The pace of growth appeared the most rapid in 2018 an increase of 30%. The import price peaked in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+6.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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