Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in China - 2024
Contents:
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in China (FOB) - 2024
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in China (CIF) - 2022
- Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in China
- Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in China
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in China (FOB) - 2024
The average export price for acids; saturated acyclic monocarboxylic acids; formic acids stood at $622 per ton in September 2023, remaining stable against the previous month. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in June 2023 an increase of 1.1% against the previous month. As a result, the export price reached the peak level of $637 per ton. From July 2023 to September 2023, the the average export prices failed to regain momentum.
Average prices varied somewhat for the major external markets. In September 2023, the countries with the highest prices were India ($736 per ton) and Japan ($661 per ton), while the average price for exports to South Korea ($575 per ton) and Turkey ($585 per ton) were amongst the lowest.
From May 2023 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+3.4%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in China (CIF) - 2022
In 2022, the average import price for acids; saturated acyclic monocarboxylic acids; formic acids amounted to $19,417 per ton, dropping by -60.5% against the previous year. In general, the import price, however, recorded a significant expansion. The pace of growth was the most pronounced in 2017 an increase of 951%. Over the period under review, average import prices reached the maximum at $49,149 per ton in 2021, and then shrank significantly in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($230,547 per ton), while the price for France ($2,742 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+29.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in China
In 2022, the amount of acids; saturated acyclic monocarboxylic acids; formic acids exported from China shrank to 225K tons, falling by -5.8% on the previous year's figure. Overall, exports faced a abrupt descent. The most prominent rate of growth was recorded in 2021 with an increase of 27%.
In value terms, exports of acids; saturated acyclic monocarboxylic acids; formic acids skyrocketed to $180M in 2022. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 105% against the previous year. Over the period under review, the exports of attained the peak figure in 2022 and are expected to retain growth in the immediate term.
| Export of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 4.4 | 3.3 | 8.5 | 13.1 | 43.9% |
| India | 6.7 | 5.8 | 16.8 | 12.8 | 24.1% |
| Turkey | 6.1 | 4.4 | 15.5 | 12.5 | 27.0% |
| Brazil | 3.1 | 3.0 | 6.6 | 12.4 | 58.7% |
| Japan | 5.3 | 3.4 | 5.1 | 10.7 | 26.4% |
| Russia | 1.7 | 1.7 | 3.8 | 10.0 | 80.5% |
| Netherlands | 7.3 | 4.1 | 5.4 | 9.6 | 9.6% |
| Bangladesh | 2.0 | 1.8 | 6.4 | 7.7 | 56.7% |
| Italy | 2.9 | 2.1 | 3.6 | 6.9 | 33.5% |
| Thailand | 4.2 | 1.9 | 8.3 | 6.9 | 18.0% |
| South Korea | 4.0 | 3.1 | 7.9 | 6.2 | 15.7% |
| Norway | 4.2 | 4.0 | 1.6 | 6.0 | 12.6% |
| Pakistan | 5.0 | 3.0 | 5.2 | 4.7 | -2.0% |
| Others | 123 | 22.4 | 36.4 | 60.0 | -21.3% |
| Total | 179 | 64.0 | 131 | 180 | 0.2% |
Top Export Markets for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid from China in 2022:
- Turkey (16.6K tons)
- India (15.6K tons)
- Netherlands (15.5K tons)
- Vietnam (15.5K tons)
- Brazil (14.2K tons)
- Russia (12.9K tons)
- Japan (11.5K tons)
- Italy (9.9K tons)
- Norway (9.4K tons)
- Bangladesh (9.3K tons)
- Thailand (7.6K tons)
- South Korea (7.4K tons)
- Pakistan (6.4K tons)
Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in China
In 2022, after two years of decline, there was significant growth in overseas purchases of acids; saturated acyclic monocarboxylic acids; formic acids, when their volume increased by 260% to 63 tons. In general, imports, however, faced a deep slump.
In value terms, imports of acids; saturated acyclic monocarboxylic acids; formic acids soared to $1.2M in 2022. Over the period under review, imports, however, saw a pronounced descent.
| Import of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in China (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 95.0 | 106 | 252 | 396 | 60.9% |
| Finland | 113 | 144 | 120 | 223 | 25.4% |
| Germany | 200 | 258 | 157 | 113 | -17.3% |
| France | 3.2 | 0.9 | 2.2 | 92.0 | 206.3% |
| Japan | 17.5 | 20.7 | 13.1 | 36.4 | 27.7% |
| Spain | 45.2 | 63.1 | 100 | 24.2 | -18.8% |
| Italy | N/A | 9.4 | N/A | N/A | 0% |
| Netherlands | 57.1 | N/A | N/A | N/A | 0% |
| Others | 773 | 115 | 211 | 335 | -24.3% |
| Total | 1,304 | 718 | 857 | 1,219 | -2.2% |
Top Suppliers of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid to China in 2022:
- France (33.6 tons)
- Finland (18.5 tons)
- Germany (4.3 tons)
- Japan (2.4 tons)
- United States (1.7 tons)
- Spain (0.2 tons)
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