Price for Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in India - 2024
Contents:
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in India (CIF) - 2024
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in India (FOB) - 2022
- Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in India
- Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in India
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in India (CIF) - 2024
In July 2023, the average import price for acids; saturated acyclic monocarboxylic acids; salts of formic acidses amounted to $652 per ton, falling by -5.5% against the previous month. Over the period under review, the import price recorded a pronounced setback. The growth pace was the most rapid in April 2023 when the average import price increased by 7.6% against the previous month. The import price peaked at $839 per ton in May 2023; however, from June 2023 to July 2023, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Malaysia ($1,363 per ton), while the price for Sweden ($431 per ton) was amongst the lowest.
From March 2023 to July 2023, the most notable rate of growth in terms of prices was attained by Spain (+1.5%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in India (FOB) - 2022
In 2022, the average export price for acids; saturated acyclic monocarboxylic acids; salts of formic acidses amounted to $28,469 per ton, with an increase of 65% against the previous year. In general, the export price recorded a buoyant expansion. The most prominent rate of growth was recorded in 2018 an increase of 171% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.
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 Italy ($119,797 per ton), while the average price for exports to Bangladesh ($1,226 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 Pakistan (+40.6%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in India
In 2022, supplies from abroad of acids; saturated acyclic monocarboxylic acids; salts of formic acidses increased by 75% to 70K tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, saw a abrupt decline.
In value terms, imports of acids; saturated acyclic monocarboxylic acids; salts of formic acidses soared to $83M in 2022. In general, imports, however, continue to indicate a abrupt downturn.
| Import of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 16.5 | 17.0 | 16.0 | 31.5 | 24.1% |
| Taiwan (Chinese) | 2.4 | 2.5 | 1.6 | 4.0 | 18.6% |
| Saudi Arabia | 1.3 | 0.7 | 1.4 | 2.1 | 17.3% |
| Brazil | 32.4 | 5.6 | 1.3 | 1.1 | -67.6% |
| Spain | 3.1 | 1.6 | 2.0 | 0.9 | -33.8% |
| New Zealand | 5.5 | 2.5 | 0.7 | N/A | -64.3% |
| Others | 72.2 | 33.8 | 26.4 | 43.1 | -15.8% |
| Total | 133 | 63.7 | 49.3 | 82.8 | -14.6% |
Top Suppliers of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids to India in 2022:
- China (16.6K tons)
- Taiwan (Chinese) (9.4K tons)
- Saudi Arabia (4.7K tons)
- Spain (3.0K tons)
- Brazil (0.3K tons)
Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in India
In 2022, exports of acids; saturated acyclic monocarboxylic acids; salts of formic acidses from India declined sharply to 1K tons, with a decrease of -36.9% against the year before. In general, exports saw a pronounced decline. The pace of growth appeared the most rapid in 2021 with an increase of 131% against the previous year. As a result, the exports attained the peak of 1.6K tons, and then declined dramatically in the following year.
In value terms, exports of acids; saturated acyclic monocarboxylic acids; salts of formic acidses rose to $29M in 2022. Over the period under review, total exports indicated a strong expansion from 2019 to 2022: its value increased at an average annual rate of +14.5% 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 +51.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 45% against the previous year. The exports peaked in 2022 and are likely to continue growth in the immediate term.
| Export of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Italy | 6.3 | 8.2 | 9.3 | 11.3 | 21.5% |
| United States | 0.3 | 0.4 | 0.2 | 1.0 | 49.4% |
| Germany | N/A | N/A | N/A | 0.5 | 0% |
| Australia | 0.1 | 0.1 | 0.4 | 0.3 | 44.2% |
| South Africa | 0.1 | N/A | N/A | 0.1 | 0.0% |
| Netherlands | 2.1 | N/A | 0.8 | N/A | -38.3% |
| Nepal | 0.1 | 0.1 | 0.1 | N/A | 0.0% |
| United Arab Emirates | N/A | N/A | 2.6 | N/A | 0% |
| Bangladesh | 0.1 | 0.1 | 0.2 | N/A | 41.4% |
| Others | 10.4 | 10.4 | 14.2 | 15.7 | 14.7% |
| Total | 19.4 | 19.2 | 27.9 | 29.1 | 14.5% |
Top Export Markets for Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids from India in 2022:
- United States (183.1 tons)
- Italy (94.7 tons)
- Germany (87.5 tons)
- Australia (49.7 tons)
- Bangladesh (38.5 tons)
- South Africa (37.1 tons)
- Nepal (20.0 tons)
- United Arab Emirates (1.7 tons)
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