Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Vietnam - 2022
Contents:
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Vietnam (CIF) - 2022
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Vietnam (FOB) - 2022
- Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Vietnam
- Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Vietnam
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Vietnam (CIF) - 2022
The average import price for acids; saturated acyclic monocarboxylic acids; formic acids stood at $851 per ton in 2022, rising by 51% against the previous year. Over the period under review, the import price, however, saw a abrupt decline. Over the period under review, average import prices reached the peak figure at $1,694 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.
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 Netherlands ($856 per ton), while the price for South Korea ($490 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+1.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Vietnam (FOB) - 2022
In 2022, the average export price for acids; saturated acyclic monocarboxylic acids; formic acids amounted to $1,162 per ton, leveling off at the previous year. Overall, the export price, however, saw a noticeable decline. The most prominent rate of growth was recorded in 2018 when the average export price increased by 407% against the previous year. As a result, the export price reached the peak level of $3,353 per ton. From 2019 to 2022, the average export prices failed to regain momentum.
Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Cambodia ($1,164 per ton) and Lao People's Democratic Republic ($1,162 per ton), while the average price for exports to Bangladesh ($1,159 per ton) and Indonesia ($1,161 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cambodia (+9.5%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Vietnam
In 2022, overseas purchases of acids; saturated acyclic monocarboxylic acids; formic acids were finally on the rise to reach 16K tons after two years of decline. In general, imports, however, continue to indicate a abrupt setback.
In value terms, imports of acids; saturated acyclic monocarboxylic acids; formic acids soared to $13M in 2022. Over the period under review, imports, however, recorded a abrupt shrinkage.
| Import of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Vietnam (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 5.7 | 4.0 | 3.8 | 6.1 | 2.3% |
| Germany | 1.5 | 0.9 | 0.2 | 0.3 | -41.5% |
| Finland | 0.6 | 0.4 | 0.1 | 0.1 | -45.0% |
| South Korea | 0.2 | 0.2 | 0.1 | 0.1 | -20.6% |
| Netherlands | 0.5 | 0.4 | 0.1 | N/A | -55.3% |
| Others | 8.8 | 6.2 | 4.4 | 6.7 | -8.7% |
| Total | 17.2 | 12.1 | 8.6 | 13.3 | -8.2% |
Top Suppliers of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid to Vietnam in 2022:
- China (7.2K tons)
- Germany (0.4K tons)
- Finland (0.1K tons)
- South Korea (0.1K tons)
Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Vietnam
For the fourth consecutive year, Vietnam recorded growth in overseas shipments of acids; saturated acyclic monocarboxylic acids; formic acids, which increased by 11% to 112 tons in 2022. Over the period under review, total exports indicated significant growth from 2019 to 2022: its volume increased at an average annual rate of +21.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +78.7% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 44% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.
In value terms, exports of acids; saturated acyclic monocarboxylic acids; formic acids rose markedly to $130K in 2022. In general, total exports indicated a significant expansion from 2019 to 2022: its value increased at an average annual rate of +23.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +86.0% against 2019 indices. The pace of growth was the most pronounced in 2020 when exports increased by 46%. 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 Vietnam (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Lao People's Democratic Republic | 13.0 | 25.9 | 26.5 | 33.6 | 37.2% |
| Cambodia | 1.1 | 2.9 | 2.0 | 2.6 | 33.2% |
| Indonesia | N/A | 1.4 | 0.4 | 1.4 | 0.0% |
| Singapore | N/A | N/A | 2.0 | N/A | 0% |
| Others | 55.8 | 72.2 | 84.5 | 92.6 | 18.4% |
| Total | 70.0 | 102 | 115 | 130 | 22.9% |
Top Export Markets for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid from Vietnam in 2022:
- Lao People's Democratic Republic (28.9 tons)
- Cambodia (2.2 tons)
- Indonesia (1.2 tons)
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