Eastern Asia: Carboxylic Acid Market 2024

Carboxylic Acid Market Size in Eastern Asia

In 2022, the East Asian carboxylic acid market decreased by X% to $X, falling for the third consecutive year after three years of growth. Overall, consumption, however, continues to indicate a slight expansion. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Carboxylic Acid Production in Eastern Asia

In value terms, carboxylic acid production reached $X in 2022 estimated in export price. The total output 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 in certain years. The most prominent rate of growth was recorded in 2016 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

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Carboxylic Acid Exports

Exports in Eastern Asia

In 2022, overseas shipments of carboxylic acid with alcohol, phenol, aldehyde or ketone functions increased by X% to X tons, rising for the third year in a row after two years of decline. Total exports indicated a buoyant increase 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 most prominent rate of growth was recorded in 2017 when exports increased by X%. The volume of export peaked in 2022 and is expected to retain growth in years to come.

In value terms, carboxylic acid exports rose significantly to $X in 2022. 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 pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the near future.

Exports by Country

China dominates exports structure, amounting to X tons, which was approx. X% of total exports in 2022. South Korea (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Japan (X%). Taiwan (Chinese) (X tons) held a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to carboxylic acid exports from China stood at X%. At the same time, Japan (X%) and South Korea (X%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, Taiwan (Chinese) (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest carboxylic acid supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Japan ($X), with a X% share of total exports. It was followed by South Korea, with an X% share.

In China, carboxylic acid exports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (X% per year) and South Korea (X% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, with an increase of X% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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 Japan ($X per ton), while China ($X per ton) was amongst the lowest.

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

Carboxylic Acid Imports

Imports in Eastern Asia

In 2022, approx. X tons of carboxylic acid with alcohol, phenol, aldehyde or ketone functions were imported in Eastern Asia; shrinking by X% compared with 2021. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, imports attained the maximum at X tons in 2021, and then shrank slightly in the following year.

In value terms, carboxylic acid imports stood at $X in 2022. The total import 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 growth pace was the most rapid in 2021 when imports increased by X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

Japan (X tons), China (X tons) and South Korea (X tons) represented roughly X% of total imports in 2022. It was distantly followed by Taiwan (Chinese) (X tons), mixing up an X% share of total imports.

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

In value terms, Japan ($X), South Korea ($X) and China ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for X% of total imports.

South Korea, with a CAGR of X%, recorded 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 Eastern Asia stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the import price, however, recorded a slight descent. The most prominent rate of growth was recorded in 2016 an increase of X%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

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

Source: IndexBox Platform

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