Price for Acids; Aromatic Monocarboxylic Acids, Phenylacetic Acid and Its Salts in India - 2023

Contents:

1. Price for Acids; Aromatic Monocarboxylic Acids, Phenylacetic Acid and Its Salts in India (CIF) - 2023
2. Price for Acids; Aromatic Monocarboxylic Acids, Phenylacetic Acid and Its Salts in India (FOB) - 2022
3. Imports of Acids; Aromatic Monocarboxylic Acids, Phenylacetic Acid and Its Salts in India
4. Exports of Acids; Aromatic Monocarboxylic Acids, Phenylacetic Acid and Its Salts in India

Price for Acids; Aromatic Monocarboxylic Acids, Phenylacetic Acid and Its Salts in India (CIF) - 2023

In November 2023, the average import price for acids; aromatic monocarboxylic acids, phenylacetic acid and its saltses amounted to $75,792 per ton, remaining constant against the previous month. Overall, the import price showed a pronounced shrinkage. The growth pace was the most rapid in March 2023 when the average import price increased by 20% month-to-month. The import price peaked at $201K per ton in May 2023; however, from June 2023 to November 2023, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for China.

From February 2023 to November 2023, the rate of growth in terms of prices for China amounted to -2.2% per month.

Price for Acids; Aromatic Monocarboxylic Acids, Phenylacetic Acid and Its Salts in India (FOB) - 2022

The average export price for acids; aromatic monocarboxylic acids, phenylacetic acid and its saltses stood at $7,471 per ton in 2022, which is down by -23.3% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 75%. As a result, the export price reached the peak level of $12,609 per ton. From 2018 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($18,819 per ton), while the average price for exports to the United States ($6,255 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 China (+9.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Acids; Aromatic Monocarboxylic Acids, Phenylacetic Acid and Its Salts in India

In 2022, after three years of growth, there was significant decline in purchases abroad of acids; aromatic monocarboxylic acids, phenylacetic acid and its saltses, when their volume decreased by -65.5% to 42 tons. Over the period under review, imports saw a sharp decrease. The growth pace was the most rapid in 2021 with an increase of 10% against the previous year. As a result, imports reached the peak of 121 tons, and then fell notably in the following year.

In value terms, imports of acids; aromatic monocarboxylic acids, phenylacetic acid and its saltses fell significantly to $3.6M in 2022. In general, imports saw a dramatic descent. The most prominent rate of growth was recorded in 2021 with an increase of 16% against the previous year. As a result, imports attained the peak of $11M, and then reduced rapidly in the following year.

Top Suppliers of Acids; Aromatic Monocarboxylic Acids, Phenylacetic Acid and Its Salts to India in 2022:

1. China (34.4 tons)
2. United States (7.3 tons)

Exports of Acids; Aromatic Monocarboxylic Acids, Phenylacetic Acid and Its Salts in India

In 2022, exports of acids; aromatic monocarboxylic acids, phenylacetic acid and its saltses from India soared to 273 tons, growing by 42% compared with the previous year's figure. Overall, total exports indicated strong growth from 2019 to 2022: its volume increased at an average annual rate of +12.7% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -3.1% against 2020 indices. The pace of growth was the most pronounced in 2020 when exports increased by 48% against the previous year. As a result, the exports attained the peak of 282 tons. From 2021 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of acids; aromatic monocarboxylic acids, phenylacetic acid and its saltses expanded notably to $2M in 2022. Over the period under review, total exports indicated a moderate increase from 2019 to 2022: its value increased at an average annual rate of +4.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -26.7% against 2020 indices. The pace of growth was the most pronounced in 2020 when exports increased by 54% against the previous year. As a result, the exports attained the peak of $2.8M. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.

Top Export Markets for Acids; Aromatic Monocarboxylic Acids, Phenylacetic Acid and Its Salts from India in 2022:

1. United States (157.8 tons)
2. Mexico (54.0 tons)
3. Spain (28.0 tons)
4. China (18.5 tons)
5. Japan (6.0 tons)
6. Brazil (4.7 tons)

Source: IndexBox Market Intelligence Platform