Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in the UK - 2024
Contents:
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in the UK (CIF) - 2022
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in the UK (FOB) - 2022
- Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in the UK
- Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in the UK
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in the UK (CIF) - 2022
The average import price for acids; saturated acyclic monocarboxylic acids; formic acids stood at $1,922 per ton in 2022, increasing by 15% against the previous year. In general, the import price showed a remarkable increase. The pace of growth appeared the most rapid in 2021 when the average import price increased by 215% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the near future.
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 Belgium ($1,290 per ton), while the price for China ($752 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+3.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in the UK (FOB) - 2022
In 2022, the average export price for acids; saturated acyclic monocarboxylic acids; formic acids amounted to $8,772 per ton, picking up by 28% against the previous year. In general, the export price showed strong growth. The pace of growth was the most pronounced in 2017 when the average export price increased by 222%. The export price peaked at $11,389 per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.
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 the United States ($39,073 per ton), while the average price for exports to Ireland ($1,727 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 Japan (+47.3%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in the UK
In 2022, imports of acids; saturated acyclic monocarboxylic acids; formic acids into the UK stood at 12K tons, picking up by 6% on 2021 figures. In general, imports recorded slight growth. The pace of growth was the most pronounced in 2020 with an increase of 100% against the previous year. As a result, imports attained the peak of 23K tons. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.
In value terms, imports of acids; saturated acyclic monocarboxylic acids; formic acids surged to $23M in 2022. Overall, imports posted a resilient expansion. The growth pace was the most rapid in 2021 when imports increased by 56%. Imports peaked in 2022 and are likely to continue growth in the immediate term.
| Import of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 2.0 | 2.5 | 5.4 | 6.4 | 47.4% |
| Finland | 2.2 | 1.7 | 1.5 | 2.3 | 1.5% |
| China | 0.5 | 0.4 | 0.9 | 1.6 | 47.4% |
| Netherlands | 0.7 | 0.5 | 0.9 | 0.9 | 8.7% |
| Belgium | 0.2 | 0.3 | 0.2 | 0.1 | -20.6% |
| Sweden | 0.8 | 0.5 | 0.4 | N/A | -29.3% |
| Others | 7.0 | 6.2 | 9.6 | 11.5 | 18.0% |
| Total | 13.4 | 12.1 | 18.8 | 22.9 | 19.6% |
Top Suppliers of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid to the UK in 2022:
- Germany (6.5K tons)
- Finland (2.2K tons)
- China (2.2K tons)
- Netherlands (1.0K tons)
Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in the UK
In 2022, shipments abroad of acids; saturated acyclic monocarboxylic acids; formic acids increased by 19% to 166 tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, recorded a sharp decrease.
In value terms, exports of acids; saturated acyclic monocarboxylic acids; formic acids surged to $1.5M in 2022. In general, exports, however, saw a slight downturn.
| Export of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in the UK (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Netherlands | N/A | 0.7 | 137 | 141 | 1319.3% |
| Ireland | 207 | 137 | 108 | 131 | -14.1% |
| China | 91.3 | 31.2 | 39.6 | 119 | 9.2% |
| United States | 2.2 | 48.0 | 9.0 | 106 | 263.9% |
| Switzerland | 2.6 | N/A | N/A | 43.0 | 154.8% |
| Germany | 1.6 | 29.0 | 82.0 | 38.3 | 188.2% |
| Taiwan (Chinese) | N/A | 1.8 | 8.3 | 31.1 | 315.7% |
| Norway | 42.3 | 5.5 | N/A | 8.0 | -42.6% |
| India | 160 | N/A | N/A | N/A | 0% |
| Iceland | 10.8 | 11.2 | 4.0 | N/A | -39.1% |
| Angola | N/A | 18.0 | N/A | N/A | 0% |
| Others | 993 | 878 | 566 | 836 | -5.6% |
| Total | 1,510 | 1,160 | 955 | 1,454 | -1.3% |
Top Export Markets for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid from the UK in 2022:
- Ireland (75.9 tons)
- Switzerland (22.4 tons)
- China (21.5 tons)
- Germany (16.2 tons)
- Taiwan (Chinese) (8.7 tons)
- Netherlands (5.4 tons)
- United States (2.7 tons)
- Norway (2.1 tons)
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