Price for Acids; Saturated Acyclic Monocarboxylic Acids; Propionic Acid, Its Salts and Esters in India - 2023
Contents:
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Propionic Acid, Its Salts and Esters in India (CIF) - 2022
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Propionic Acid, Its Salts and Esters in India (FOB) - 2023
- Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Propionic Acid, Its Salts and Esters in India
- Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Propionic Acid, Its Salts and Esters in India
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Propionic Acid, Its Salts and Esters in India (CIF) - 2022
The average import price for acids; saturated acyclic monocarboxylic acids; propionic acid, its salts and esterses stood at $1,861 per ton in 2022, rising by 27% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. 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 ($2,829 per ton), while the price for Sweden ($907 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Propionic Acid, Its Salts and Esters in India (FOB) - 2023
In July 2023, the average export price for acids; saturated acyclic monocarboxylic acids; propionic acid, its salts and esterses amounted to $4,485 per ton, approximately reflecting the previous month. In general, the export price, however, continues to indicate a deep downturn. The most prominent rate of growth was recorded in May 2023 when the average export price increased by 19% m-o-m. The export price peaked at $14,409 per ton in November 2022; however, from December 2022 to July 2023, the export prices stood at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was China ($96,154 per ton), while the average price for exports to Mexico ($1,899 per ton) was amongst the lowest.
From November 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Switzerland (+37.0%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Propionic Acid, Its Salts and Esters in India
For the fourth consecutive year, India recorded growth in supplies from abroad of acids; saturated acyclic monocarboxylic acids; propionic acid, its salts and esterses, which increased by 9.4% to 32K tons in 2022. In general, total imports indicated prominent growth from 2019 to 2022: its volume increased at an average annual rate of +18.4% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +66.1% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 30% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.
In value terms, imports of acids; saturated acyclic monocarboxylic acids; propionic acid, its salts and esterses soared to $53M in 2022. Overall, total imports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +14.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +64.5% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 30%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.
| Import of Acids; Saturated Acyclic Monocarboxylic Acids; Propionic Acid, Its Salts and Esters in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 5.7 | 6.6 | 22.5 | 32.4 | 78.5% |
| United States | 14.9 | 14.2 | 8.0 | 9.1 | -15.2% |
| Sweden | 4.2 | 4.1 | 6.0 | 4.1 | -0.8% |
| Singapore | 1.0 | N/A | 0.5 | 1.6 | 17.0% |
| Belgium | 4.3 | 2.7 | 1.9 | 1.5 | -29.6% |
| Netherlands | 1.4 | 2.5 | 0.7 | 1.2 | -5.0% |
| Hong Kong SAR | 1.1 | 0.3 | 0.2 | 0.8 | -10.1% |
| United Arab Emirates | N/A | 0.8 | 0.5 | 0.5 | -20.9% |
| Others | 2.7 | 1.3 | 2.0 | 2.3 | -5.2% |
| Total | 35.3 | 32.5 | 42.4 | 53.5 | 14.9% |
Top Suppliers of Acids; Saturated Acyclic Monocarboxylic Acids; Propionic Acid, Its Salts and Esters to India in 2022:
- China (18.7K tons)
- Sweden (4.5K tons)
- United States (3.2K tons)
- Belgium (1.6K tons)
- Singapore (1.2K tons)
- Netherlands (0.7K tons)
- Hong Kong SAR (0.5K tons)
- United Arab Emirates (0.3K tons)
Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Propionic Acid, Its Salts and Esters in India
Exports of acids; saturated acyclic monocarboxylic acids; propionic acid, its salts and esterses from India contracted sharply to 3.4K tons in 2022, with a decrease of -24.2% compared with 2021. Overall, exports showed a deep contraction. The most prominent rate of growth was recorded in 2021 with an increase of 1.3% against the previous year.
In value terms, exports of acids; saturated acyclic monocarboxylic acids; propionic acid, its salts and esterses dropped significantly to $31M in 2022. Over the period under review, exports continue to indicate a deep reduction. The pace of growth appeared the most rapid in 2021 with an increase of 20% against the previous year. As a result, the exports attained the peak of $64M, and then fell remarkably in the following year.
| Export of Acids; Saturated Acyclic Monocarboxylic Acids; Propionic Acid, Its Salts and Esters in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Mexico | 26.8 | 32.9 | 50.2 | 15.3 | -17.0% |
| China | 9.5 | 12.7 | 4.0 | 2.8 | -33.5% |
| Switzerland | 2.1 | 1.2 | 1.9 | 2.2 | 1.6% |
| United States | 1.8 | 1.5 | 2.7 | 2.1 | 5.3% |
| Netherlands | 1.3 | 0.6 | 0.4 | 1.7 | 9.4% |
| South Korea | N/A | 0.1 | N/A | 1.2 | 246.4% |
| Singapore | 1.6 | 1.0 | 1.6 | 1.1 | -11.7% |
| Brazil | 0.6 | 0.7 | 0.5 | 0.7 | 5.3% |
| Turkey | 0.1 | N/A | 0.3 | 0.5 | 71.0% |
| Indonesia | 0.3 | 0.3 | 0.4 | 0.5 | 18.6% |
| Thailand | 0.3 | 0.3 | 0.2 | 0.4 | 10.1% |
| Spain | 0.4 | 0.5 | 0.4 | 0.3 | -9.1% |
| Others | 2.4 | 2.0 | 1.9 | 2.3 | -1.4% |
| Total | 47.1 | 53.7 | 64.4 | 31.2 | -12.8% |
Top Export Markets for Acids; Saturated Acyclic Monocarboxylic Acids; Propionic Acid, Its Salts and Esters from India in 2022:
- Mexico (673.3 tons)
- United States (406.9 tons)
- Netherlands (406.0 tons)
- Switzerland (367.4 tons)
- Singapore (303.0 tons)
- Brazil (236.0 tons)
- Thailand (142.7 tons)
- China (115.0 tons)
- South Korea (112.6 tons)
- Indonesia (77.0 tons)
- Turkey (76.1 tons)
- Spain (66.1 tons)
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