Price for Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in Vietnam - 2022
Contents:
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in Vietnam (CIF) - 2022
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in Vietnam (FOB) - 2022
- Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in Vietnam
- Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in Vietnam
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in Vietnam (CIF) - 2022
In 2022, the average import price for acids; saturated acyclic monocarboxylic acids; salts of formic acidses amounted to $716 per ton, declining by -13.3% against the previous year. Overall, the import price continues to indicate a drastic downturn. The pace of growth was the most pronounced in 2021 when the average import price increased by 34% against the previous year. Over the period under review, average import prices hit record highs at $1,272 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.
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 Norway ($1,073 per ton), while the price for India ($335 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+17.2%), 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 Vietnam (FOB) - 2022
The average export price for acids; saturated acyclic monocarboxylic acids; salts of formic acidses stood at $1,088 per ton in 2022, jumping by 25% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Myanmar ($1,113 per ton), while the average price for exports to Hong Kong SAR ($750 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 Myanmar (+27.3%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in Vietnam
In 2022, the amount of acids; saturated acyclic monocarboxylic acids; salts of formic acidses imported into Vietnam skyrocketed to 8K tons, with an increase of 34% on the previous year's figure. The total import volume increased at an average annual rate of +10.8% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of acids; saturated acyclic monocarboxylic acids; salts of formic acidses soared to $5.7M in 2022. Over the period under review, total imports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +14.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +56.6% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 35% against the previous year. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in years to come.
| Import of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in Vietnam (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 1,082 | 1,017 | 1,341 | 2,114 | 25.0% |
| Norway | 37.0 | 848 | 1,502 | 680 | 163.9% |
| Taiwan (Chinese) | 435 | 113 | 154 | 204 | -22.3% |
| Netherlands | 166 | 211 | 191 | 181 | 2.9% |
| Sweden | 15.1 | 70.7 | 54.9 | 44.8 | 43.7% |
| Germany | 186 | 60.2 | 58.5 | 33.0 | -43.8% |
| Others | 1,867 | 1,323 | 1,612 | 2,445 | 9.4% |
| Total | 3,788 | 3,642 | 4,913 | 5,702 | 14.6% |
Top Suppliers of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids to Vietnam in 2022:
- China (3.0K tons)
- Norway (0.6K tons)
- Netherlands (0.4K tons)
- Taiwan (Chinese) (0.3K tons)
- Sweden (0.1K tons)
Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in Vietnam
In 2022, approx. 31 tons of acids; saturated acyclic monocarboxylic acids; salts of formic acidses were exported from Vietnam; dropping by -21.5% against the year before. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 299% against the previous year. As a result, the exports attained the peak of 39 tons, and then fell rapidly in the following year.
In value terms, exports of acids; saturated acyclic monocarboxylic acids; salts of formic acidses reduced slightly to $33K in 2022. Over the period under review, exports, however, showed strong growth. The most prominent rate of growth was recorded in 2021 with an increase of 303%. As a result, the exports attained the peak of $34K, and then shrank modestly in the following year.
| Export of Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids in Vietnam (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Cambodia | 10.7 | 3.5 | 6.1 | 10.9 | 0.6% |
| Myanmar | N/A | N/A | 10.1 | 4.9 | -51.5% |
| Hong Kong SAR | 1.7 | 1.4 | 1.6 | 1.6 | -2.0% |
| Others | 13.5 | 3.5 | 16.1 | 15.9 | 5.6% |
| Total | 25.8 | 8.4 | 33.9 | 33.3 | 8.9% |
Top Export Markets for Acids; Saturated Acyclic Monocarboxylic Acids; Salts of Formic Acids from Vietnam in 2022:
- Cambodia (9.8 tons)
- Myanmar (4.4 tons)
- Hong Kong SAR (2.2 tons)
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