South-Eastern Asia: Acetic Acid Market 2024

Acetic Acid Market Size in South-Eastern Asia

The Southeast Asian acetic acid market rose significantly to $X in 2023, with an increase of X% against the previous year. The total consumption indicated a slight 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, consumption decreased by X% against 2021 indices. As a result, consumption attained the peak level of $X. From 2022 to 2023, the growth of the market remained at a lower figure.

Acetic Acid Production in South-Eastern Asia

In value terms, acetic acid production rose markedly to $X in 2023 estimated in export price. In general, production, however, posted pronounced growth. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The level of production peaked at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Acetic Acid Exports

Exports in South-Eastern Asia

In 2023, shipments abroad of acetic acid decreased by X% to X tons, falling for the second consecutive year after two years of growth. Overall, exports, however, continue to indicate a mild expansion. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

In value terms, acetic acid exports dropped dramatically to $X in 2023. In general, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, the exports attained the peak of $X. From 2022 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

The biggest shipments were from Malaysia (X tons) and Singapore (X tons), together recording X% of total export.

From 2012 to 2023, the biggest increases were recorded for Singapore (with a CAGR of X%).

In value terms, the largest acetic acid supplying countries in South-Eastern Asia were Malaysia ($X) and Singapore ($X).

In terms of the main exporting countries, Singapore, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

In 2023, the export price in South-Eastern Asia amounted to $X per ton, declining by X% against the previous year. Over the period under review, the export price recorded a slight decline. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2023, the export prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while Singapore totaled $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Malaysia (X%).

Acetic Acid Imports

Imports in South-Eastern Asia

In 2023, supplies from abroad of acetic acid decreased by X% to X tons, falling for the second consecutive year after two years of growth. In general, imports showed a slight contraction. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports reached the peak of X tons. From 2022 to 2023, the growth of imports remained at a lower figure.

In value terms, acetic acid imports dropped markedly to $X in 2023. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports remained at a lower figure.

Imports by Country

Thailand was the largest importing country with an import of about X tons, which amounted to X% of total imports. Indonesia (X tons) ranks second in terms of the total imports with a X% share, followed by Singapore (X%) and Vietnam (X%). The following importers - the Philippines (X tons) and Malaysia (X tons) - together made up X% of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Vietnam (with a CAGR of X%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest acetic acid importing markets in South-Eastern Asia were Thailand ($X), Indonesia ($X) and Singapore ($X), together accounting for X% of total imports. Vietnam, the Philippines and Malaysia lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Vietnam, with a CAGR of X%, saw the highest rates of growth with regard to 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 South-Eastern Asia stood at $X per ton in 2023, shrinking by X% against the previous year. Import price indicated a noticeable expansion from 2012 to 2023: its price 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, acetic acid import price decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2018 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2019 to 2023, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Vietnam ($X per ton), while Thailand ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform