Asia: Adipic Acid Market 2024

Adipic Acid Market Size in Asia

The Asian adipic acid market shrank slightly to $X in 2022, declining by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Adipic Acid Production in Asia

In value terms, adipic acid production fell to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of X%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

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Adipic Acid Exports

Exports in Asia

Adipic acid exports declined to X tons in 2022, approximately reflecting the previous year. Over the period under review, exports, however, saw strong growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2021, and then fell modestly in the following year.

In value terms, adipic acid exports amounted to $X in 2022. In general, exports, however, recorded a remarkable increase. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

In 2022, China (X tons) represented the major exporter of adipic acid, its salts and esters, constituting X% of total exports. It was distantly followed by South Korea (X tons), achieving a X% share of total exports. Turkey (X tons) held a minor share of total exports.

Exports from China increased at an average annual rate of X% from 2012 to 2022. At the same time, Turkey (X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. By contrast, South Korea (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of South Korea (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest adipic acid supplier in Asia, comprising X% of total exports. The second position in the ranking was held by South Korea ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in China amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (X% per year) and Turkey (X% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the export price, however, recorded a slight shrinkage. The pace of growth was the most pronounced in 2021 an increase of X%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the other leaders experienced a decline in the export price figures.

Adipic Acid Imports

Imports in Asia

In 2022, after two years of growth, there was decline in purchases abroad of adipic acid, its salts and esters, when their volume decreased by X% to X tons. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2021, and then dropped slightly in the following year.

In value terms, adipic acid imports stood at $X in 2022. Total imports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% 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

The purchases of the four major importers of adipic acid, its salts and esters, namely Turkey, Taiwan (Chinese), Singapore and India, represented more than half of total import. Japan (X tons) ranks next in terms of the total imports with an X% share, followed by South Korea (X%) and Pakistan (X%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Pakistan (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest adipic acid importing markets in Asia were Turkey ($X), Taiwan (Chinese) ($X) and India ($X), with a combined X% share of total imports. Singapore, Japan, South Korea and Pakistan lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Pakistan, with a CAGR of X%, 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 import price in Asia stood at $X per ton in 2022, picking up by X% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, import prices reached the maximum at $X per ton in 2013; afterwards, it flattened through to 2022.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Japan ($X per ton) and Turkey ($X per ton), while Taiwan (Chinese) ($X per ton) and Singapore ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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