Asia: Market for Salts Of Acetic Acid 2024

Market Size for Salts Of Acetic Acid in Asia

After two years of decline, the Asian salts of acetic acid market increased by X% to $X in 2023. The market value increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The level of consumption peaked in 2023 and is likely to see steady growth in the immediate term.

Production of Salts Of Acetic Acid in Asia

In value terms, salts of acetic acid production amounted to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.

Exports of Salts Of Acetic Acid

Exports in Asia

In 2023, shipments abroad of salts of acetic acid increased by X% to X tons, rising for the seventh consecutive year after two years of decline. Over the period under review, exports recorded a resilient expansion. The most prominent rate of growth was recorded in 2017 when exports increased by X%. Over the period under review, the exports reached the maximum in 2023 and are likely to see gradual growth in years to come.

In value terms, salts of acetic acid exports declined markedly to $X in 2023. In general, exports saw tangible growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2022, and then shrank markedly in the following year.

Exports by Country

In 2023, China (X tons) was the key exporter of salts of acetic acid, achieving X% of total exports. It was distantly followed by India (X tons), achieving a X% share of total exports. Taiwan (Chinese) (X tons), Japan (X tons) and South Korea (X tons) held a minor share of total exports.

Exports from China increased at an average annual rate of X% from 2012 to 2023. At the same time, South Korea (X%), India (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2023. Japan experienced a relatively flat trend pattern. India (X p.p.) significantly strengthened its position in terms of the total exports, while China and Japan saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest salts of acetic acid supplier in Asia, comprising X% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a X% share of total exports. It was followed by India, with a X% share.

From 2012 to 2023, 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: Taiwan (Chinese) (X% per year) and India (X% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2023, dropping by X% against the previous year. Over the period under review, the export price showed a noticeable slump. The most prominent rate of growth was recorded 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 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the other leaders experienced a decline in the export price figures.

Imports of Salts Of Acetic Acid

Imports in Asia

Salts of acetic acid imports skyrocketed to X tons in 2023, picking up by X% against the year before. Total imports indicated a remarkable increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, salts of acetic acid imports reached $X in 2023. Total imports indicated a notable expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The level of import peaked in 2023 and is likely to see steady growth in the immediate term.

Imports by Country

Malaysia was the main importing country with an import of around X tons, which amounted to X% of total imports. India (X tons) ranks second in terms of the total imports with a X% share, followed by South Korea (X%), China (X%) and Japan (X%). The following importers - Indonesia (X tons), Thailand (X tons), Vietnam (X tons), Turkey (X tons) and Taiwan (Chinese) (X tons) - together made up X% of total imports.

Malaysia was also the fastest-growing in terms of the salts of acetic acid imports, with a CAGR of X% from 2012 to 2023. At the same time, China (X%), Vietnam (X%), South Korea (X%), Taiwan (Chinese) (X%), Turkey (X%), Thailand (X%) and India (X%) displayed positive paces of growth. Indonesia and Japan experienced a relatively flat trend pattern. Malaysia (X p.p.) and China (X p.p.) significantly strengthened its position in terms of the total imports, while Turkey, Thailand, Indonesia, South Korea, Japan and India saw its share reduced by X%, X%, X%, X%, X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X), Malaysia ($X) and South Korea ($X) appeared to be the countries with the highest levels of imports in 2023, with a combined X% share of total imports.

Malaysia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main importing countries 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 2023, shrinking by X% against the previous year. Overall, the import price recorded a pronounced shrinkage. The growth pace was the most rapid in 2022 an increase of X%. As a result, import price attained the peak level of $X per ton, and then shrank sharply in the following year.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Japan (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform