Asia-Pacific: Polycarboxylic Acid Market 2023

Polycarboxylic Acid Market Size in Asia-Pacific

In 2021, the Asia-Pacific polycarboxylic acid market decreased by -6.7% to $X, falling for the third consecutive year after three years of growth. In general, consumption saw a mild downturn. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Polycarboxylic Acid Production in Asia-Pacific

In value terms, polycarboxylic acid production rose significantly to $X in 2021 estimated in export price. The total production indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -12.1% against 2018 indices. The most prominent rate of growth was recorded in 2014 with an increase of 36%. The level of production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Polycarboxylic Acid Exports

Exports in Asia-Pacific

Polycarboxylic acid exports soared to X tons in 2021, picking up by 35% on the previous year. Overall, exports recorded a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, polycarboxylic acid exports skyrocketed to $X in 2021. In general, exports, however, recorded a slight decline. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, China (X tons), distantly followed by South Korea (X tons), Taiwan (Chinese) (X tons) and Thailand (X tons) were the major exporters of polycarboxylic acids, together constituting 92% of total exports. The following exporters - Malaysia (X tons) and India (X tons) - together made up 5.5% of total exports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +27.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), South Korea ($X) and Taiwan (Chinese) ($X) constituted the countries with the highest levels of exports in 2021, together comprising 80% of total exports.

In terms of the main exporting countries, China, with a CAGR of +16.2%, recorded 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 export price in Asia-Pacific amounted to $X per ton, rising by 26% against the previous year. Overall, the export price, however, recorded a perceptible descent. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was India ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (-1.6%), while the other leaders experienced a decline in the export price figures.

Polycarboxylic Acid Imports

Imports in Asia-Pacific

Polycarboxylic acid imports skyrocketed to X tons in 2021, picking up by 23% against the year before. Overall, imports, however, continue to indicate a abrupt decline. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, polycarboxylic acid imports soared to $X in 2021. Over the period under review, imports, however, continue to indicate a abrupt descent. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

India represented the major importing country with an import of around X tons, which resulted at 38% of total imports. Vietnam (X tons) took a 22% share (based on physical terms) of total imports, which put it in second place, followed by China (12%) and Japan (4.7%). Indonesia (X tons), Taiwan (Chinese) (X tons), Malaysia (X tons), Pakistan (X tons), South Korea (X tons), Singapore (X tons) and Thailand (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Pakistan (with a CAGR of +22.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X) constitutes the largest market for imported polycarboxylic acids in Asia-Pacific, comprising 32% of total imports. The second position in the ranking was held by Vietnam ($X), with a 15% share of total imports. It was followed by China, with a 14% share.

From 2012 to 2021, the average annual growth rate of value in India stood at +5.8%. In the other countries, the average annual rates were as follows: Vietnam (+11.7% per year) and China (-22.1% per year).

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per ton, growing by 30% against the previous year. Overall, the import price, however, recorded a mild reduction. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was South Korea ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+1.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Market Intelligence Platform

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