Eastern Asia: Market for Saturated Acyclic Monocarboxylic Acids 2024

Market Size for Saturated Acyclic Monocarboxylic Acids in Eastern Asia

The East Asian saturated acyclic monocarboxylic acids market contracted to $X in 2023, declining by X% against the previous year. In general, consumption saw a relatively flat trend pattern. The level of consumption peaked at $X in 2021; however, from 2022 to 2023, consumption remained at a lower figure.

Production of Saturated Acyclic Monocarboxylic Acids in Eastern Asia

In value terms, saturated acyclic monocarboxylic acids production expanded sharply to $X in 2023 estimated in export price. Overall, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2022 to 2023, production growth failed to regain momentum.

Exports of Saturated Acyclic Monocarboxylic Acids

Exports in Eastern Asia

In 2023, the amount of saturated acyclic monocarboxylic acids exported in Eastern Asia reached X tons, growing by X% compared with 2022 figures. Over the period under review, exports recorded a strong expansion. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2022 to 2023, the growth of the exports failed to regain momentum.

In value terms, saturated acyclic monocarboxylic acids exports shrank to $X in 2023. Overall, exports saw a prominent increase. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2022 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

China was the key exporter of saturated acyclic monocarboxylic acids in Eastern Asia, with the volume of exports resulting at X tons, which was near X% of total exports in 2023. It was distantly followed by Taiwan (Chinese) (X tons) and South Korea (X tons), together comprising a X% share of total exports. Japan (X tons) took a little share of total exports.

China was also the fastest-growing in terms of the saturated acyclic monocarboxylic acids exports, with a CAGR of X% from 2012 to 2023. At the same time, Japan (X%), Taiwan (Chinese) (X%) and South Korea (X%) displayed positive paces of growth. While the share of China (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of South Korea (X p.p.) and Taiwan (Chinese) (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest saturated acyclic monocarboxylic acids supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a X% share of total exports. It was followed by South Korea, with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in China totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Taiwan (Chinese) (X% per year) and South Korea (X% per year).

Export Prices by Country

In 2023, the export price in Eastern Asia amounted to $X per ton, reducing by X% against the previous year. Over the period under review, the export price showed a mild decrease. The pace of growth was the most pronounced in 2018 when the export price increased by X%. The level of export peaked at $X per ton in 2022, and then shrank sharply in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Saturated Acyclic Monocarboxylic Acids

Imports in Eastern Asia

In 2023, approx. X tons of saturated acyclic monocarboxylic acids were imported in Eastern Asia; with a decrease of X% compared with the year before. Total imports indicated a moderate expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, saturated acyclic monocarboxylic acids imports fell significantly to $X in 2023. Total imports indicated a notable expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The level of import peaked at $X in 2022, and then shrank dramatically in the following year.

Imports by Country

In 2023, China (X tons) was the key importer of saturated acyclic monocarboxylic acids, committing X% of total imports. It was distantly followed by South Korea (X tons), Japan (X tons) and Taiwan (Chinese) (X tons), together making up a X% share of total imports.

From 2012 to 2023, the biggest increases were recorded for China (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), South Korea ($X) and Japan ($X) appeared to be the countries with the highest levels of imports in 2023, with a combined X% share of total imports.

In terms of the main importing countries, South Korea, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in Eastern Asia amounted to $X per ton, waning by X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. The level of import peaked at $X per ton in 2022, and then shrank slightly in the following year.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in South Korea ($X per ton) and Taiwan (Chinese) ($X per ton), while Japan ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform