Asia: Monocarboxylic Acid Market 2024

Monocarboxylic Acid Market Size in Asia

The Asian monocarboxylic acid market amounted to $X in 2022, standing approx. at the previous year. The total consumption indicated a moderate increase 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 hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Monocarboxylic Acid Production in Asia

In value terms, monocarboxylic acid production stood at $X in 2022 estimated in export price. The total production indicated a pronounced increase 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, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2018 with an increase of X%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

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Monocarboxylic Acid Exports

Exports in Asia

In 2022, the amount of acrylic acid and its salts and other monocarboxylic acid exported in Asia amounted to X tons, increasing by X% compared with 2021 figures. The total export 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 growth pace was the most rapid in 2017 with an increase of X%. The volume of export peaked in 2022 and is likely to see steady growth in the near future.

In value terms, monocarboxylic acid exports rose markedly to $X in 2022. Overall, exports showed buoyant growth. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in the near future.

Exports by Country

In 2022, China (X tons) represented the largest exporter of acrylic acid and its salts and other monocarboxylic acid, constituting X% of total exports. Malaysia (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Japan (X%), South Korea (X%), India (X%), Singapore (X%) and Indonesia (X%).

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

In value terms, China ($X) remains the largest monocarboxylic acid supplier in Asia, comprising X% of total exports. The second position in the ranking was held by India ($X), with an X% share of total exports. It was followed by Japan, with an X% share.

From 2012 to 2022, the average annual growth rate of value in China stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: India (X% per year) and Japan (X% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (X%), while the other leaders experienced more modest paces of growth.

Monocarboxylic Acid Imports

Imports in Asia

Monocarboxylic acid imports contracted to X tons in 2022, waning by X% compared with the previous year's figure. Total imports indicated a prominent 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, imports increased by X% against 2015 indices. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2021, and then shrank in the following year.

In value terms, monocarboxylic acid imports totaled $X in 2022. Over the period under review, imports, however, posted resilient growth. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the immediate term.

Imports by Country

Taiwan (Chinese) (X tons) and India (X tons) represented the key importers of acrylic acid and its salts and other monocarboxylic acid in 2022, accounting for near X% and X% of total imports, respectively. Malaysia (X tons) held an X% share (based on physical terms) of total imports, which put it in second place, followed by China (X%), South Korea (X%), Turkey (X%), Thailand (X%) and Singapore (X%).

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

In value terms, India ($X) constitutes the largest market for imported acrylic acid and its salts and other monocarboxylic acid in Asia, comprising X% of total imports. The second position in the ranking was taken by South Korea ($X), with an X% share of total imports. It was followed by China, with a X% share.

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

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of X%. The level of import peaked in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform