Uzbekistan: Acetic Acid Market 2024

Acetic Acid Market Size in Uzbekistan

The Uzbek acetic acid market surged to $X in 2021, with an increase of 21% against the previous year. Over the period under review, consumption, however, continues to indicate a significant expansion. Over the period under review, the market hit record highs in 2021 and is likely to see gradual growth in years to come.

Acetic Acid Production in Uzbekistan

In value terms, acetic acid production declined to $X in 2021 estimated in export price. In general, production, however, enjoyed a strong increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by 62%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Acetic Acid Exports

Exports from Uzbekistan

In 2021, shipments abroad of acetic acid was finally on the rise to reach X tons after two years of decline. Over the period under review, exports showed a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, acetic acid exports surged to $X in 2021. In general, exports posted a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Russia (X tons), Ukraine (X tons) and Kyrgyzstan (X tons) were the main destinations of acetic acid exports from Uzbekistan, with a combined 83% share of total exports. These countries were followed by Kazakhstan and Tajikistan, which together accounted for a further 15%.

From 2018 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Tajikistan (with a CAGR of +113.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for acetic acid exported from Uzbekistan were Russia ($X), Ukraine ($X) and Kyrgyzstan ($X), with a combined 86% share of total exports. Kazakhstan and Tajikistan lagged somewhat behind, together comprising a further 12%.

Among the main countries of destination, Tajikistan, with a CAGR of +126.3%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average acetic acid export price amounted to $X per ton, jumping by 57% against the previous year. Overall, export price indicated a significant increase from 2018 to 2021: its price increased at an average annual rate of +20.5% over the last three-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 +75.0% against 2018 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Kyrgyzstan ($X per ton), while the average price for exports to Tajikistan ($X per ton) was amongst the lowest.

From 2018 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Kazakhstan (+30.8%), while the prices for the other major destinations experienced more modest paces of growth.

Acetic Acid Imports

Imports into Uzbekistan

After four years of growth, purchases abroad of acetic acid decreased by -75.9% to X tons in 2021. Over the period under review, imports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2019 when imports increased by 645% against the previous year. Imports peaked at X tons in 2020, and then fell significantly in the following year.

In value terms, acetic acid imports reduced sharply to $X in 2021. In general, imports, however, enjoyed a significant increase. The growth pace was the most rapid in 2019 when imports increased by 931% against the previous year. Imports peaked at $X in 2020, and then shrank markedly in the following year.

Imports by Country

Iran (X tons), Russia (X tons) and Turkey (X tons) were the main suppliers of acetic acid imports to Uzbekistan, with a combined 100% share of total imports.

From 2017 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Iran (with a CAGR of +82.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest acetic acid suppliers to Uzbekistan were Iran ($X), Russia ($X) and Turkey ($X), with a combined 99% share of total imports.

In terms of the main suppliers, Iran, with a CAGR of +98.8%, 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

In 2021, the average acetic acid import price amounted to $X per ton, increasing by 53% against the previous year. Overall, import price indicated buoyant growth from 2017 to 2021: its price increased at an average annual rate of +13.4% over the last four-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 +70.2% against 2018 indices. As a result, import price attained 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 countries with the highest prices were Turkey ($X per ton) and South Korea ($X per ton), while the price for Iran ($X per ton) and Russia ($X per ton) were amongst the lowest.

From 2017 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+91.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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