China: Carboxylic Acid Market 2024

Carboxylic Acid Market Size in China

In 2022, the Chinese carboxylic acid market decreased by X% to $X, falling for the second year in a row after four years of growth. In general, the total consumption indicated slight growth 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, consumption decreased by X% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Carboxylic Acid Production in China

In value terms, carboxylic acid production expanded slightly 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 indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Carboxylic acid production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Carboxylic Acid Exports

Exports from China

In 2022, shipments abroad of carboxylic acid with alcohol, phenol, aldehyde or ketone functions increased by X% to X tons, rising for the third consecutive year after two years of decline. Over the period under review, total exports indicated a buoyant expansion from 2012 to 2022: its volume 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, exports increased by X% against 2019 indices. The growth pace was the most rapid in 2017 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, carboxylic acid exports surged to $X in 2022. Overall, total exports indicated buoyant growth 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, exports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in years to come.

Exports by Country

India (X tons), the United States (X tons) and Brazil (X tons) were the main destinations of carboxylic acid exports from China, together comprising X% of total exports. Japan, Russia, South Korea, Spain, Australia, Mexico, the Netherlands, Vietnam, Indonesia and Taiwan (Chinese) lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for carboxylic acid exported from China were the United States ($X), India ($X) and Japan ($X), together accounting for X% of total exports. Brazil, South Korea, the Netherlands, Russia, Spain, Australia, Mexico, Indonesia, Taiwan (Chinese) and Vietnam lagged somewhat behind, together comprising a further X%.

Russia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average carboxylic acid export price amounted to $X per ton, with an increase of X% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, the average export prices reached the maximum in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (X%), while the prices for the other major destinations experienced more modest paces of growth.

Carboxylic Acid Imports

Imports into China

In 2022, imports of carboxylic acid with alcohol, phenol, aldehyde or ketone functions into China contracted to X tons, shrinking by X% on 2021. Over the period under review, imports, however, posted prominent growth. The pace of growth appeared the most rapid in 2017 with an increase of X%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, carboxylic acid imports reduced to $X in 2022. In general, total imports indicated a temperate expansion 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 2015 indices. The growth pace was the most rapid in 2013 when imports increased by X% against the previous year. Imports peaked at $X in 2021, and then reduced in the following year.

Imports by Country

Thailand (X tons), Singapore (X tons) and South Korea (X tons) were the main suppliers of carboxylic acid imports to China, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Japan ($X) and South Korea ($X) were the largest carboxylic acid suppliers to China, with a combined X% share of total imports.

In terms of the main suppliers, Singapore, with a CAGR of X%, saw 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 2022, the average carboxylic acid import price amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the import price, however, showed a mild contraction. The most prominent rate of growth was recorded in 2013 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Thailand ($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 United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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