Price for Acids; Saturated Acyclic Monocarboxylic Acids; Vinyl Acetate in China - 2023
Contents:
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Vinyl Acetate in China (CIF) - 2023
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Vinyl Acetate in China (FOB) - 2023
- Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Vinyl Acetate in China
- Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Vinyl Acetate in China
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Vinyl Acetate in China (CIF) - 2023
In December 2023, the average import price for acids; saturated acyclic monocarboxylic acids; vinyl acetates amounted to $865 per ton, picking up by 2% against the previous month. In general, the import price, however, continues to indicate a mild descent. The most prominent rate of growth was recorded in September 2023 an increase of 10% against the previous month. The import price peaked at $1,028 per ton in December 2022; however, from January 2023 to December 2023, import prices stood at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In December 2023, the country with the highest price was Singapore ($931 per ton), while the price for Taiwan (Chinese) totaled $766 per ton.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+0.9%), while the prices for the other major suppliers experienced a decline.
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Vinyl Acetate in China (FOB) - 2023
The average export price for acids; saturated acyclic monocarboxylic acids; vinyl acetates stood at $762 per ton in December 2023, declining by -11.5% against the previous month. Over the period under review, the export price showed a noticeable decrease. The pace of growth was the most pronounced in September 2023 an increase of 15% against the previous month. Over the period under review, the average export prices reached the peak figure at $1,012 per ton in December 2022; however, from January 2023 to December 2023, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major external markets. In December 2023, the country with the highest price was Venezuela ($1,088 per ton), while the average price for exports to Peru ($695 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (-1.6%), while the prices for the other major destinations experienced a decline.
Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Vinyl Acetate in China
In 2022, after three years of growth, there was significant decline in supplies from abroad of acids; saturated acyclic monocarboxylic acids; vinyl acetates, when their volume decreased by -19.8% to 284K tons. Overall, total imports indicated a prominent increase from 2019 to 2022: its volume increased at an average annual rate of +7.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +24.4% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 30% against the previous year. As a result, imports reached the peak of 354K tons, and then declined significantly in the following year.
In value terms, imports of acids; saturated acyclic monocarboxylic acids; vinyl acetates surged to $522M in 2022. Over the period under review, imports, however, posted a significant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 140%. Imports peaked in 2022 and are expected to retain growth in the immediate term.
| Import of Acids; Saturated Acyclic Monocarboxylic Acids; Vinyl Acetate in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Taiwan (Chinese) | 170 | 127 | 348 | 430 | 36.3% |
| South Korea | 1.6 | 9.0 | 80.1 | 45.1 | 204.3% |
| Saudi Arabia | 5.8 | 8.7 | N/A | 25.2 | 63.2% |
| Singapore | 11.6 | 36.8 | 18.2 | 14.8 | 8.5% |
| Others | 4.4 | 5.2 | 4.1 | 6.6 | 14.5% |
| Total | 194 | 187 | 450 | 522 | 39.1% |
Top Suppliers of Acids; Saturated Acyclic Monocarboxylic Acids; Vinyl Acetate to China in 2022:
- Taiwan (Chinese) (231.4K tons)
- South Korea (24.3K tons)
- Saudi Arabia (16.2K tons)
- Singapore (9.1K tons)
Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Vinyl Acetate in China
In 2022, approx. 100K tons of acids; saturated acyclic monocarboxylic acids; vinyl acetates were exported from China; declining by -6.1% on 2021. In general, exports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 12% against the previous year.
In value terms, exports of acids; saturated acyclic monocarboxylic acids; vinyl acetates surged to $168M in 2022. Over the period under review, exports, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 95%. The exports peaked in 2022 and are expected to retain growth in the near future.
| Export of Acids; Saturated Acyclic Monocarboxylic Acids; Vinyl Acetate in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 31.9 | 12.2 | 35.3 | 34.6 | 2.7% |
| South Korea | 10.3 | 7.0 | 10.0 | 31.9 | 45.8% |
| Belgium | 30.4 | 7.8 | 41.0 | 19.0 | -14.5% |
| Thailand | 21.0 | 12.2 | 5.0 | 16.9 | -7.0% |
| Pakistan | 7.0 | 6.6 | 11.0 | 16.0 | 31.7% |
| Turkey | 3.5 | N/A | 14.9 | 14.3 | 59.9% |
| Mexico | N/A | 0.2 | 2.3 | 6.1 | 452.3% |
| Brazil | 1.0 | 1.1 | 1.6 | 4.6 | 66.3% |
| Indonesia | 11.3 | 7.6 | 3.4 | 4.3 | -27.5% |
| Vietnam | 1.3 | 1.5 | 2.0 | 4.1 | 46.6% |
| Colombia | 0.6 | 0.8 | 1.5 | 3.8 | 85.0% |
| Others | 24.2 | 16.1 | 14.4 | 12.8 | -19.1% |
| Total | 142 | 73.0 | 142 | 168 | 5.8% |
Top Export Markets for Acids; Saturated Acyclic Monocarboxylic Acids; Vinyl Acetate from China in 2022:
- India (19.1K tons)
- South Korea (17.9K tons)
- Belgium (15.8K tons)
- Pakistan (9.0K tons)
- Thailand (8.7K tons)
- Turkey (8.4K tons)
- Mexico (3.2K tons)
- Brazil (2.7K tons)
- Indonesia (2.6K tons)
- Vietnam (2.3K tons)
- Colombia (2.3K tons)
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