Overview of the Global Market for Salts Of Acetic Acid

Market Size for Salts Of Acetic Acid

In 2022, the global salts of acetic acid market increased by 6.9% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of +1.6% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the global market hit record highs in 2022 and is expected to retain growth in years to come.

Production of Salts Of Acetic Acid

In value terms, salts of acetic acid production reduced slightly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 16%. As a result, production attained the peak level of $X; afterwards, it flattened through to 2022.

Exports of Salts Of Acetic Acid

Exports

In 2022, global exports of salts of acetic acid contracted to X tons, with a decrease of -7% compared with the previous year. Overall, exports saw a slight contraction. The most prominent rate of growth was recorded in 2021 with an increase of 23% against the previous year. The global exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, salts of acetic acid exports amounted to $X in 2022. In general, total exports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +46.4% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 46%. Over the period under review, the global exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

In 2022, China (X tons) represented the largest exporter of salts of acetic acid, generating 38% of total exports. It was distantly followed by the Netherlands (X tons), India (X tons) and Germany (X tons), together making up a 34% share of total exports. France (X tons), Belgium (X tons), Canada (X tons), the United States (X tons), the UK (X tons), Japan (X tons), Taiwan (Chinese) (X tons) and Slovenia (X tons) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +6.9% from 2012 to 2022. At the same time, India (+10.9%), Canada (+6.8%), Slovenia (+5.5%), Taiwan (Chinese) (+4.9%) and Japan (+3.3%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in the world, with a CAGR of +10.9% from 2012-2022. The Netherlands, Germany, the UK and the United States experienced a relatively flat trend pattern. By contrast, Belgium (-3.0%) and France (-6.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, India, the Netherlands and Canada increased by +20, +6.1, +2.5 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest salts of acetic acid supplying countries worldwide were China ($X), the Netherlands ($X) and Germany ($X), with a combined 57% share of global exports. The UK, the United States, Taiwan (Chinese), India, Belgium, France, Canada, Japan and Slovenia lagged somewhat behind, together accounting for a further 34%.

The UK, with a CAGR of +11.6%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average salts of acetic acid export price amounted to $X per ton, increasing by 7.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.2%. The pace of growth was the most pronounced in 2013 when the average export price increased by 25% against the previous year. The global export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while Slovenia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+11.7%), while the other global leaders experienced more modest paces of growth.

Imports of Salts Of Acetic Acid

Imports

In 2022, overseas purchases of salts of acetic acid increased by 7.2% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +2.8% 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 2021 with an increase of 18% against the previous year. Over the period under review, global imports attained the maximum in 2022 and are likely to see gradual growth in the near future.

In value terms, salts of acetic acid imports skyrocketed to $X in 2022. In general, total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.3% 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 +58.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 27% against the previous year. Global imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, the United States (X tons), distantly followed by Germany (X tons), India (X tons) and the Netherlands (X tons) represented the key importers of salts of acetic acid, together comprising 37% of total imports. France (X tons), Spain (X tons), Italy (X tons), Belgium (X tons), China (X tons), Russia (X tons), Poland (X tons), South Korea (X tons) and South Africa (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to salts of acetic acid imports into the United States stood at +8.5%. At the same time, China (+27.0%), Belgium (+9.0%), Spain (+8.4%), the Netherlands (+8.0%), Poland (+7.5%), Russia (+6.1%), South Africa (+5.4%), France (+5.0%), Italy (+3.8%), Germany (+2.8%) and South Korea (+2.6%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in the world, with a CAGR of +27.0% from 2012-2022. India experienced a relatively flat trend pattern. From 2012 to 2022, the share of the United States, China, the Netherlands, Belgium and Spain increased by +7.7, +2.9, +1.9, +1.6 and +1.6 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X), the United States ($X) and Germany ($X) were the countries with the highest levels of imports in 2022, with a combined 40% share of global imports. The Netherlands, China, France, South Korea, Italy, Spain, Belgium, Poland, Russia and South Africa lagged somewhat behind, together comprising a further 27%.

In terms of the main importing countries, the Netherlands, with a CAGR of +15.2%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average salts of acetic acid import price amounted to $X per ton, with an increase of 17% against the previous year. Over the last decade, it increased at an average annual rate of +2.4%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+6.7%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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