Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Japan - 2024
Contents:
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Japan (CIF) - 2024
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Japan (FOB) - 2022
- Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Japan
- Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Japan
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Japan (CIF) - 2024
The average import price for acids; saturated acyclic monocarboxylic acids; formic acids stood at $730 per ton in July 2023, picking up by 3.4% against the previous month. Overall, the import price, however, showed a pronounced curtailment. Over the period under review, average import prices hit record highs at $778 per ton in April 2023; however, from May 2023 to July 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 April 2023 to July 2023, the rate of growth in terms of prices for China amounted to -2.9% per month.
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Japan (FOB) - 2022
In 2022, the average export price for acids; saturated acyclic monocarboxylic acids; formic acids amounted to $2,376 per ton, almost unchanged from the previous year. In general, the export price continues to indicate a pronounced descent. The most prominent rate of growth was recorded in 2019 when the average export price increased by 29%. The export price peaked at $3,759 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($13,154 per ton), while the average price for exports to Thailand ($1,656 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 South Korea (-0.3%), while the prices for the other major destinations experienced a decline.
Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Japan
In 2022, purchases abroad of acids; saturated acyclic monocarboxylic acids; formic acids increased by 21% to 24K tons for the first time since 2019, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +1.1% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of acids; saturated acyclic monocarboxylic acids; formic acids surged to $26M in 2022. In general, imports enjoyed a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Japan (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 6.9 | 4.9 | 6.5 | 13.0 | 23.5% |
| Germany | 0.5 | 0.5 | 0.3 | 0.2 | -26.3% |
| Others | 7.5 | 5.7 | 7.0 | 13.2 | 20.7% |
| Total | 14.8 | 11.1 | 13.8 | 26.4 | 21.3% |
Top Suppliers of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid to Japan in 2022:
- China (11.6K tons)
- Germany (0.2K tons)
Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Japan
For the fourth consecutive year, Japan recorded growth in shipments abroad of acids; saturated acyclic monocarboxylic acids; formic acids, which increased by 75% to 396 tons in 2022. In general, exports saw a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, exports of acids; saturated acyclic monocarboxylic acids; formic acids skyrocketed to $941K in 2022. Overall, exports posted a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Japan (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Taiwan (Chinese) | N/A | N/A | 96.3 | 277 | 187.6% |
| South Korea | 55.4 | 53.9 | 43.5 | 46.7 | -5.5% |
| Indonesia | 38.3 | 14.3 | 26.5 | 43.0 | 3.9% |
| Philippines | 9.7 | 9.8 | 5.4 | 40.4 | 60.9% |
| Vietnam | N/A | N/A | 12.4 | 25.3 | 104.0% |
| Thailand | 114 | 176 | 80.5 | 22.6 | -41.7% |
| China | 2.3 | 11.3 | 6.8 | 16.0 | 90.9% |
| Others | 225 | 265 | 271 | 471 | 27.9% |
| Total | 445 | 530 | 543 | 941 | 28.4% |
Top Export Markets for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid from Japan in 2022:
- Taiwan (Chinese) (144.0 tons)
- Indonesia (14.6 tons)
- Thailand (13.6 tons)
- Philippines (11.4 tons)
- Vietnam (7.9 tons)
- China (3.8 tons)
- South Korea (3.6 tons)
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