Eastern Asia: Acetic Acid Market 2024

Acetic Acid Market Size in Eastern Asia

The East Asian acetic acid market skyrocketed to $X in 2023, jumping by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market remained at a lower figure.

Acetic Acid Production in Eastern Asia

In value terms, acetic acid production amounted to $X in 2023 estimated in export price. The total production indicated a resilient 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, production decreased by X% against 2021 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2022 to 2023, production growth remained at a somewhat lower figure.

Acetic Acid Exports

Exports in Eastern Asia

In 2023, approx. X tons of acetic acid were exported in Eastern Asia; waning by X% on the year before. In general, exports, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2022 to 2023, the growth of the exports remained at a lower figure.

In value terms, acetic acid exports contracted markedly to $X in 2023. Over the period under review, exports, however, posted a resilient increase. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2022 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

China was the main exporting country with an export of about X tons, which recorded X% of total exports. It was distantly followed by Taiwan (Chinese) (X tons) and South Korea (X tons), together creating a X% share of total exports. Japan (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to acetic acid exports from China stood at X%. At the same time, Taiwan (Chinese) (X%) and South Korea (X%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2023. By contrast, Japan (X%) illustrated a downward trend over the same period. While the share of Taiwan (Chinese) (X p.p.) and China (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Japan (X p.p.) and South Korea (X p.p.) displayed negative dynamics.

In value terms, the largest acetic acid supplying countries in Eastern Asia were China ($X), Taiwan (Chinese) ($X) and South Korea ($X), together comprising X% of total exports.

Taiwan (Chinese), with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2023, falling by X% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2023, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced mixed trends in the export price figures.

Acetic Acid Imports

Imports in Eastern Asia

Acetic acid imports dropped to X tons in 2023, falling by X% against 2022. Overall, imports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2015 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2021; however, from 2022 to 2023, imports failed to regain momentum.

In value terms, acetic acid imports shrank to $X in 2023. In general, imports, however, saw a remarkable increase. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

Japan (X tons) and South Korea (X tons) represented roughly X% of total imports in 2023. China (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Taiwan (Chinese) (X%).

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Japan (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest acetic acid importing markets in Eastern Asia were South Korea ($X), Japan ($X) and China ($X), with a combined X% share 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 2023, declining by X% against the previous year. Import price indicated a mild 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 increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 to 2023, import prices stood at a somewhat lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform