Price for Acids; Unsaturated Acyclic Monocarboxylic Acids; Acrylic Acid and Its Salts in India - 2023
Contents:
- Price for Acids; Unsaturated Acyclic Monocarboxylic Acids; Acrylic Acid and Its Salts in India (CIF) - 2023
- Price for Acids; Unsaturated Acyclic Monocarboxylic Acids; Acrylic Acid and Its Salts in India (FOB) - 2023
- Imports of Acids; Unsaturated Acyclic Monocarboxylic Acids; Acrylic Acid and Its Salts in India
- Exports of Acids; Unsaturated Acyclic Monocarboxylic Acids; Acrylic Acid and Its Salts in India
Price for Acids; Unsaturated Acyclic Monocarboxylic Acids; Acrylic Acid and Its Salts in India (CIF) - 2023
In November 2023, the average import price for acids; unsaturated acyclic monocarboxylic acids; acrylic acid and its saltses amounted to $991 per ton, picking up by 3.1% against the previous month. In general, the import price, however, recorded a perceptible setback. The growth pace was the most rapid in April 2023 an increase of 4.1% month-to-month. Over the period under review, average import prices reached the maximum at $1,353 per ton in November 2022; however, from December 2022 to November 2023, import prices failed to regain momentum.
Average prices varied noticeably amongst the major supplying countries. In November 2023, the countries with the highest prices were South Korea ($1,019 per ton) and Indonesia ($997 per ton), while the price for Russia ($862 per ton) and Japan ($970 per ton) were amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Japan (-0.1%), while the prices for the other major suppliers experienced a decline.
Price for Acids; Unsaturated Acyclic Monocarboxylic Acids; Acrylic Acid and Its Salts in India (FOB) - 2023
The average export price for acids; unsaturated acyclic monocarboxylic acids; acrylic acid and its saltses stood at $7,500 per ton in November 2023, reducing by -4.8% against the previous month. Overall, the export price, however, showed a buoyant increase. The growth pace was the most rapid in August 2023 when the average export price increased by 786% month-to-month. As a result, the export price reached the peak level of $54,509 per ton. From September 2023 to November 2023, the the average export prices remained at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was the United States ($7,835 per ton), while the average price for exports to Nepal ($1,277 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (-0.3%), while the prices for the other major destinations experienced a decline.
Imports of Acids; Unsaturated Acyclic Monocarboxylic Acids; Acrylic Acid and Its Salts in India
In 2022, approx. 62K tons of acids; unsaturated acyclic monocarboxylic acids; acrylic acid and its saltses were imported into India; surging by 8.8% on 2021. The total import volume increased at an average annual rate of +8.8% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 18% against the previous year. Over the period under review, imports of reached the peak figure in 2022 and are likely to see steady growth in the immediate term.
In value terms, imports of acids; unsaturated acyclic monocarboxylic acids; acrylic acid and its saltses skyrocketed to $126M in 2022. In general, imports recorded a significant increase. The pace of growth was the most pronounced in 2021 with an increase of 94%. Imports peaked in 2022 and are likely to see steady growth in the near future.
| Import of Acids; Unsaturated Acyclic Monocarboxylic Acids; Acrylic Acid and Its Salts in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 24.7 | 7.2 | 41.1 | 66.1 | 38.8% |
| Malaysia | 6.7 | 6.9 | 14.8 | 17.0 | 36.4% |
| South Korea | 9.7 | 14.3 | 13.1 | 15.4 | 16.7% |
| Indonesia | 9.8 | 10.4 | 11.6 | 12.4 | 8.2% |
| Japan | N/A | 0.5 | 7.9 | 8.6 | 314.7% |
| Taiwan (Chinese) | 1.3 | 0.7 | 2.6 | 2.6 | 26.0% |
| Singapore | 4.9 | 2.0 | 1.4 | 2.0 | -25.8% |
| Others | 0.6 | 6.6 | 1.6 | 1.9 | 46.8% |
| Total | 57.8 | 48.6 | 94.1 | 126 | 29.7% |
Top Suppliers of Acids; Unsaturated Acyclic Monocarboxylic Acids; Acrylic Acid and Its Salts to India in 2022:
- China (32.0K tons)
- Malaysia (7.9K tons)
- South Korea (7.9K tons)
- Indonesia (6.6K tons)
- Japan (4.2K tons)
- Taiwan (Chinese) (1.2K tons)
- Singapore (0.9K tons)
Exports of Acids; Unsaturated Acyclic Monocarboxylic Acids; Acrylic Acid and Its Salts in India
In 2022, overseas shipments of acids; unsaturated acyclic monocarboxylic acids; acrylic acid and its saltses increased by 1.1% to 324 tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, continue to indicate a sharp decline.
In value terms, exports of acids; unsaturated acyclic monocarboxylic acids; acrylic acid and its saltses shrank to $1.4M in 2022. Over the period under review, exports, however, showed a deep contraction. The growth pace was the most rapid in 2020 when exports increased by 3.2% against the previous year. As a result, the exports reached the peak of $2.7M. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.
| Export of Acids; Unsaturated Acyclic Monocarboxylic Acids; Acrylic Acid and Its Salts in India (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 153 | 1,798 | 1,178 | 811 | 74.4% |
| United Arab Emirates | 0.7 | 60.7 | 20.7 | 192 | 549.7% |
| Bangladesh | 240 | 4.7 | 74.5 | 131 | -18.3% |
| Brazil | N/A | N/A | 34.2 | 84.6 | 147.4% |
| Turkey | 0.1 | N/A | 71.1 | 57.8 | 733.0% |
| Sri Lanka | 0.1 | N/A | 1.1 | 41.1 | 643.5% |
| Kenya | N/A | N/A | 55.3 | 35.8 | -35.3% |
| China | 1,545 | 459 | N/A | 5.3 | -84.9% |
| South Korea | N/A | 204 | N/A | N/A | 0% |
| Myanmar | 184 | 139 | 29.8 | N/A | -59.8% |
| Iran | 443 | 45.5 | N/A | N/A | -89.7% |
| Saudi Arabia | 27.5 | N/A | 45.2 | N/A | 28.2% |
| Others | 39.5 | 5.1 | 26.7 | 74.5 | 23.6% |
| Total | 2,632 | 2,717 | 1,537 | 1,432 | -18.4% |
Top Export Markets for Acids; Unsaturated Acyclic Monocarboxylic Acids; Acrylic Acid and Its Salts from India in 2022:
- United States (117.3 tons)
- United Arab Emirates (88.7 tons)
- Bangladesh (49.0 tons)
- Sri Lanka (16.0 tons)
- Brazil (12.1 tons)
- Kenya (11.8 tons)
- Turkey (8.8 tons)
- China (0.3 tons)
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