Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Malaysia - 2024
Contents:
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Malaysia (CIF) - 2022
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Malaysia (FOB) - 2022
- Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Malaysia
- Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Malaysia
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Malaysia (CIF) - 2022
In 2022, the average import price for acids; saturated acyclic monocarboxylic acids; formic acids amounted to $2,099 per ton, with an increase of 199% against the previous year. In general, the import price continues to indicate strong growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($4,120 per ton), while the price for Indonesia ($792 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+8.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Malaysia (FOB) - 2022
The average export price for acids; saturated acyclic monocarboxylic acids; formic acids stood at $1,749 per ton in 2022, growing by 65% against the previous year. Over the period under review, export price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for acids; saturated acyclic monocarboxylic acids; formic acids increased by +82.5% against 2020 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Brunei Darussalam ($2,740 per ton), while the average price for exports to Thailand ($909 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 Malawi (+62.2%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Malaysia
After three years of growth, purchases abroad of acids; saturated acyclic monocarboxylic acids; formic acids decreased by -54.8% to 6K tons in 2022. Over the period under review, imports showed a deep setback. The pace of growth was the most pronounced in 2021 when imports increased by 65% against the previous year. As a result, imports reached the peak of 13K tons, and then reduced rapidly in the following year.
In value terms, imports of acids; saturated acyclic monocarboxylic acids; formic acids soared to $13M in 2022. In general, imports, however, saw a significant increase. The growth pace was the most rapid in 2021 with an increase of 120%. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in years to come.
| Import of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Malaysia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 1,858 | 1,434 | 3,135 | 5,560 | 44.1% |
| Japan | 160 | 182 | 357 | 176 | 3.2% |
| Hong Kong SAR | 42.6 | 253 | 550 | 141 | 49.0% |
| Germany | 45.8 | 60.5 | 102 | 104 | 31.4% |
| Others | 2,400 | 2,288 | 5,145 | 6,549 | 39.7% |
| Total | 4,506 | 4,217 | 9,288 | 12,532 | 40.6% |
Top Suppliers of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid to Malaysia in 2022:
- China (5.5K tons)
- Japan (0.1K tons)
- Germany (0.1K tons)
- Hong Kong SAR (0.1K tons)
Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Malaysia
After three years of growth, shipments abroad of acids; saturated acyclic monocarboxylic acids; formic acids decreased by -47.9% to 476 tons in 2022. Over the period under review, exports, however, enjoyed a prominent expansion. The growth pace was the most rapid in 2020 with an increase of 69% against the previous year.
In value terms, exports of acids; saturated acyclic monocarboxylic acids; formic acids reduced to $832K in 2022. In general, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 87% against the previous year. As a result, the exports attained the peak of $969K, and then declined in the following year.
| Export of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Malaysia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Liberia | N/A | N/A | 34.9 | 129 | 269.6% |
| Bangladesh | 144 | 195 | 255 | 114 | -7.5% |
| Brunei Darussalam | N/A | N/A | N/A | 107 | 0% |
| Malawi | N/A | N/A | 21.0 | 32.5 | 54.8% |
| Thailand | N/A | 48.4 | 93.2 | 13.0 | -48.2% |
| Singapore | 26.3 | 3.1 | 72.0 | 10.6 | -26.1% |
| Indonesia | N/A | N/A | N/A | 10.2 | 0% |
| Others | 170 | 272 | 493 | 416 | 34.8% |
| Total | 341 | 518 | 969 | 832 | 34.6% |
Top Export Markets for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid from Malaysia in 2022:
- Liberia (81.6 tons)
- Bangladesh (75.0 tons)
- Brunei Darussalam (38.9 tons)
- Malawi (20.4 tons)
- Thailand (14.4 tons)
- Singapore (5.7 tons)
- Indonesia (5.6 tons)
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