Price for Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in the UK - 2024
Contents:
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in the UK (CIF) - 2024
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in the UK (FOB) - 2022
- Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in the UK
- Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in the UK
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in the UK (CIF) - 2024
The average import price for acids; saturated acyclic monocarboxylic acids; salts of formic acidses stood at $1,668 per ton in August 2023, increasing by 24% against the previous month. Over the period from April 2023 to August 2023, it increased at an average monthly rate of +8.7%. The pace of growth appeared the most rapid in May 2023 an increase of 26% against the previous month. Over the period under review, average import prices hit record highs in August 2023.
Prices varied noticeably by the country of origin: the country with the highest price was Belgium ($4,168 per ton), while the price for China ($670 per ton) was amongst the lowest.
From April 2023 to August 2023, the most notable rate of growth in terms of prices was attained by Germany (+59.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in the UK (FOB) - 2022
In 2022, the average export price for acids; saturated acyclic monocarboxylic acids; salts of formic acidses amounted to $11,559 per ton, surging by 25% against the previous year. Over the period under review, the export price posted a significant increase. The most prominent rate of growth was recorded in 2021 when the average export price increased by 193% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Norway ($8,984 per ton), while the average price for exports to Kuwait ($837 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 Italy (+9.9%), 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 the UK
Imports of acids; saturated acyclic monocarboxylic acids; salts of formic acidses into the UK soared to 5.5K tons in 2022, jumping by 23% against the year before. Over the period under review, imports, however, recorded a abrupt setback.
In value terms, imports of acids; saturated acyclic monocarboxylic acids; salts of formic acidses totaled $32M in 2022. Overall, imports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 273%. Over the period under review, imports of reached the peak figure in 2022 and are likely to see steady growth in the near future.
| Import of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | N/A | N/A | 9.8 | 9.6 | -2.0% |
| Sweden | 0.7 | 1.2 | 1.5 | 2.4 | 50.8% |
| China | 0.5 | 1.3 | 0.8 | 1.8 | 53.3% |
| Norway | 0.1 | 0.1 | 0.1 | 0.7 | 91.3% |
| Germany | 1.2 | 0.5 | 1.1 | 0.5 | -25.3% |
| Ireland | N/A | 0.1 | 0.3 | 0.3 | 73.2% |
| Belgium | 0.2 | 0.1 | 0.2 | 0.3 | 14.5% |
| Spain | 0.1 | 0.1 | 0.1 | 0.3 | 44.2% |
| Netherlands | 0.4 | 0.3 | 0.4 | 0.2 | -20.6% |
| Others | 3.7 | 4.2 | 14.6 | 16.5 | 64.6% |
| Total | 7.0 | 7.8 | 29.0 | 32.4 | 66.7% |
Top Suppliers of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids to the UK in 2022:
- Sweden (1591.6 tons)
- China (1388.0 tons)
- Canada (832.0 tons)
- Spain (432.5 tons)
- Germany (345.8 tons)
- Norway (331.8 tons)
- Belgium (208.5 tons)
- Ireland (118.6 tons)
- Netherlands (116.1 tons)
Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in the UK
In 2022, the amount of acids; saturated acyclic monocarboxylic acids; salts of formic acidses exported from the UK soared to 936 tons, rising by 219% compared with the year before. In general, exports posted a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, exports of acids; saturated acyclic monocarboxylic acids; salts of formic acidses soared to $11M in 2022. Overall, exports recorded a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in the UK (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Norway | N/A | 304 | 1,089 | 4,049 | 265.0% |
| India | N/A | N/A | 3.7 | 658 | 17683.8% |
| United Arab Emirates | 1.4 | N/A | N/A | 155 | 380.2% |
| Belgium | 81.9 | 69.9 | 60.8 | 150 | 22.3% |
| Senegal | N/A | N/A | N/A | 81.7 | 0% |
| Netherlands | 241 | 333 | 17.8 | 57.7 | -37.9% |
| Ireland | 25.6 | 35.5 | 4.0 | 51.4 | 26.2% |
| Germany | 33.3 | 34.8 | 6.3 | 13.7 | -25.6% |
| Italy | 55.5 | 7.7 | 5.0 | 4.7 | -56.1% |
| Finland | 99.1 | N/A | N/A | N/A | 0% |
| Others | 750 | 1,047 | 1,534 | 5,595 | 95.4% |
| Total | 1,288 | 1,831 | 2,720 | 10,816 | 103.3% |
Top Export Markets for Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids from the UK in 2022:
- Norway (450.7 tons)
- India (234.4 tons)
- United Arab Emirates (98.7 tons)
- Belgium (56.3 tons)
- Senegal (29.4 tons)
- Netherlands (22.8 tons)
- Ireland (21.0 tons)
- Germany (5.0 tons)
- Italy (1.5 tons)
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