Price for Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in China - 2024
Contents:
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in China (FOB) - 2024
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in China (CIF) - 2022
- Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in China
- Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in China
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in China (FOB) - 2024
In September 2023, the average export price for acids; saturated acyclic monocarboxylic acids; salts of formic acidses amounted to $534 per ton, approximately equating the previous month. In general, the export price, however, showed a slight setback. Over the period under review, the average export prices reached the maximum at $566 per ton in May 2023; however, from June 2023 to September 2023, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major overseas markets. In September 2023, the country with the highest price was Lithuania ($814 per ton), while the average price for exports to Pakistan ($269 per ton) was amongst the lowest.
From May 2023 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to India (+5.3%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in China (CIF) - 2022
The average import price for acids; saturated acyclic monocarboxylic acids; salts of formic acidses stood at $1,910 per ton in 2022, growing by 86% against the previous year. Overall, the import price saw resilient growth. The pace of growth was the most pronounced in 2019 an increase of 250% against the previous year. The import price peaked at $4,093 per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($48,893 per ton), while the price for Taiwan (Chinese) ($470 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+34.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in China
Exports of acids; saturated acyclic monocarboxylic acids; salts of formic acidses from China rose markedly to 218K tons in 2022, growing by 9.1% against the previous year's figure. Over the period under review, exports, however, saw a deep contraction. The pace of growth appeared the most rapid in 2021 when exports increased by 21%.
In value terms, exports of acids; saturated acyclic monocarboxylic acids; salts of formic acidses skyrocketed to $157M in 2022. In general, exports, however, saw a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by 50%.
| Export of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Singapore | 0.6 | 0.1 | 0.7 | 18.1 | 211.3% |
| India | 6.9 | 4.1 | 2.9 | 16.7 | 34.3% |
| Russia | 14.4 | 6.4 | 14.1 | 16.6 | 4.9% |
| Brazil | 5.3 | 4.9 | 8.6 | 10.6 | 26.0% |
| Netherlands | 4.4 | 4.7 | 11.1 | 9.3 | 28.3% |
| United States | 5.6 | 2.8 | 7.1 | 8.4 | 14.5% |
| Djibouti | 0.1 | 0.2 | 6.2 | 5.3 | 275.6% |
| Norway | 1.0 | 1.7 | 0.1 | 4.8 | 68.7% |
| Lithuania | 1.1 | 0.7 | 0.4 | 4.0 | 53.8% |
| Vietnam | 1.0 | 1.5 | 2.1 | 3.8 | 56.0% |
| Japan | 2.3 | 1.7 | 2.1 | 3.1 | 10.5% |
| South Korea | 2.9 | 1.9 | 2.8 | 2.7 | -2.4% |
| Pakistan | 0.4 | 0.8 | 0.5 | 2.6 | 86.6% |
| Others | 150 | 41.7 | 51.2 | 50.7 | -30.3% |
| Total | 197 | 73.4 | 110 | 157 | -7.3% |
Top Export Markets for Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids from China in 2022:
- India (32.9K tons)
- Russia (27.4K tons)
- Brazil (13.5K tons)
- Netherlands (13.4K tons)
- United States (10.6K tons)
- Djibouti (9.9K tons)
- Norway (8.8K tons)
- Singapore (8.4K tons)
- Lithuania (7.2K tons)
- Pakistan (5.8K tons)
- Vietnam (5.8K tons)
- South Korea (4.2K tons)
- Japan (4.0K tons)
Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in China
In 2022, imports of acids; saturated acyclic monocarboxylic acids; salts of formic acidses into China fell notably to 826 tons, which is down by -72.3% on 2021. In general, imports faced a sharp shrinkage. The smallest decline of -10.7% was in 2021.
In value terms, imports of acids; saturated acyclic monocarboxylic acids; salts of formic acidses dropped sharply to $1.6M in 2022. Overall, imports showed a precipitous slump. The smallest decline of -30.3% was in 2021.
| Import of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 0.1 | 0.1 | 0.5 | 0.7 | 91.3% |
| Norway | 0.8 | 2.2 | 1.2 | 0.3 | -27.9% |
| Taiwan (Chinese) | 0.5 | 0.4 | 0.2 | 0.2 | -26.3% |
| India | 0.1 | 0.1 | 0.1 | 0.2 | 26.0% |
| Germany | 0.7 | 0.9 | N/A | 0.1 | -47.7% |
| Sweden | 1.5 | 0.5 | 0.8 | N/A | -27.0% |
| United Kingdom | 40.6 | N/A | N/A | N/A | 0% |
| Canada | 20.4 | N/A | N/A | N/A | 0% |
| Others | 65.0 | 0.2 | 0.1 | 0.1 | -88.5% |
| Total | 130 | 4.4 | 3.1 | 1.6 | -76.9% |
Top Suppliers of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids to China in 2022:
- Taiwan (Chinese) (322.5 tons)
- Norway (184.0 tons)
- United States (179.6 tons)
- India (58.1 tons)
- Sweden (49.9 tons)
- Germany (20.5 tons)
- United Kingdom (0.1 tons)
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