Acetic Acid Prices December 2023
Product |
Category |
Region |
Price |
Acetic Acid |
Chemical |
USA |
595 USD/MT |
Acetic Acid |
Chemical |
South Korea |
491 USD/MT (Glacial) |
Acetic Acid |
Chemical |
Belgium |
769 USD/MT (Glacial) |
Acetic Acid |
Chemical |
Saudi Arabia |
389 USD/MT |
The price of acetic acid in the United States for Q4 2023 reached 595 USD /MT in December. The demand from the international market is expected to remain strong, and the market's inventories are expected to remain high.
South Korea saw substantial price decreases, primarily due to the closure of LG Chem's acetic acid plant in Daesan, resulting in a supply shortage in the market. The quarter-end price for acetic acid (glacial) in South Korea is 491 USD /MT.
Acetic acid prices in Belgium remained stable due to consistent contract prices for feedstock methanol. There were no plant shutdowns during the fourth quarter. The current quarter's ending price for acetic acid (glacial) in Belgium is 769 USD /MT.
The Q4 ending price for acetic acid in Saudi Arabia is 389 USD /MT. Overall, the stable market situation, moderate supply and demand, and anticipated market factors influenced acetic acid pricing in the MEA region.
Acetic Acid Price Trend, Market Analysis, and News
IMARC’s newly published report, titled “Acetic Acid Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of acetic acid pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.
It encompasses an in-depth review of spot price of acetic acid at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of acetic acid price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.
The report examines the elements influencing acetic acid price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.
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Acetic Acid Market Analysis
The global acetic acid market size reached US$ 11.9 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 19.5 Billion, at a projected CAGR of 5.50% during 2023-2032.
- The acetic acid market is driven by its important role in the manufacturing of vinyl acetate monomer (VAM), which is extensively used in the production of polyvinyl alcohol and polyvinyl acetate.
- The growing consumer preferences for processed foods and condiments has elevated the consumption of vinegar globally, further stimulating the acetic acid market growth. Acetic acid is commonly found in household vinegar, typically at a 5% concentration.
- The acetic acid market is driven by the increasing demand for vinegar, which is a dilute solution of acetic acid. In 2021, the top importers of vinegar and substitutes for vinegar derived from acetic acid were the United States, Germany, France, the United Kingdom, and Canada.
- The expanding use of acetic acid in the pharmaceutical industry highlights its versatility and indispensability. A study has investigated how acetic acid improves the solubility of weakly basic drugs used in spray dried dispersion manufacture. This compound serves as the key solvent in the production of various medicines, and as a processing aid, it significantly improves these drugs' organic solvent solubility, resulting in comparable dissolution rates and supersaturation retention to traditional methods. This study demonstrates the potential of acetic acid in improving drug solubility for pharmaceutical applications.
Acetic Acid News
The report covers the latest developments, updates, and trends impacting the global acetic acid market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in acetic acid production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the acetic acid price trend.
Latest developments in the acetic acid industry:
- In 2024, Climate tech startup Again partnered with HELM to distribute and sell acetic acid, leveraging HELM's experience and global network for the first 50,000 tons production. The collaboration focuses on sustainability, offering low carbon footprint chemical products to various industries, emphasizing decarbonization and environmental responsibility. The 10-year contract will bring together HELM's 120 years of experience and Again's technical expertise in fermenting waste CO2 emissions.
- In 2023, KBR, a multinational engineering group based in the United States, acquired an acetic acid technology called Acetica for an undisclosed sum. Chiyoda of Japan owns and developed the carbonylation technology, which produces acetic acid from methanol and carbon monoxide.
Product Description
Acetic acid is a colorless organic compound with the chemical formula CH3COOH. Acetic acid is generally known for giving vinegar its sour taste and pungent smell. It is one of the simplest carboxylic acids and is a key chemical reagent and industrial chemical, which is used in the production of cellulose acetate for photographic film, polyvinyl acetate for wood glue, and synthetic fibers and fabrics. Apart from its industrial and domestic uses acetic acid is also an important chemical reagent that is used in a variety of chemical processes including synthesis of chemical compounds. The global demand for acetic acid is substantial, driven by its widespread use in adhesives, plastics and food industries showcasing its versatility and essential role in modern manufacturing and processing industries.
Regional Coverage
The report provides a detailed analysis of the acetic acid market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the acetic acid price trend.
Global Acetic Acid Price
The report offers a holistic view of the global acetic acid pricing trends in the form of acetic acid price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price of acetic acid but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.
The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed acetic acid demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.
Europe Acetic Acid Price
In the final quarter of 2023, the European market for acetic acid remained stable due to consistent imports, with prices remaining unchanged. The market was influenced by heavy destocking activities, high inventories, and rising production costs. The Belgium market saw stability in acetic acid prices due to consistent contract prices of feedstock methanol, with no plant shutdowns.
This analysis can be extended to include detailed acetic acid price information for a comprehensive list of countries.
Region |
Countries Covered |
Europe |
Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal, and Greece, among other European countries. |
North America Acetic Acid Price
During Q4 2023, the North American region saw a stable supply of acetic acid, but lacklustre demand from the construction industry caused prices to decline. High inventories and reduced demand from OEMs also contributed to the price drop. While methanol prices remained low, natural gas production remained stable, providing lower cost support. In the United States, prices experienced a downward trend due to reduced demand, but international demand is expected to remain firm.
Specific acetic acid historical data within the United States and Canada can also be provided.
Region |
Countries Covered |
North America |
United States and Canada |
Middle East and Africa Acetic Acid Price
Q4 2023 for acetic acid in the Middle East and Africa region had stable prices with moderate supply and demand levels. The expected continuity of robust demand from the international market, reduced market inventories attributed to the onset of the festival season, and the anticipated increase in coal prices impacted the market. In Saudi Arabia, acetic acid pricing showed substantial increase from the previous quarter, with a stable market situation and moderate supply and demand levels.
In addition to region-wise data, information on acetic acid prices for countries can also be provided.
Region |
Countries Covered |
Middle East and Africa |
Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco, among other Middle Eastern and African countries. |
Asia Pacific Acetic Acid Price
In Q4 2023, acetic acid prices in the APAC region were affected by high inventories, rising production costs, and weak demand from the downstream industry. South Korea saw a significant decline in prices due to the shutdown of LG Chem's acetic acid plant in Daesan, leading to a supply shortage.
This acetic acid price analysis can be expanded to include a comprehensive list of countries within the region.
Region |
Countries Covered |
Asia Pacific |
China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand, among other Asian countries. |
Latin America Acetic Acid Price
The analysis of acetic acid prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.
This comprehensive review can be extended to include specific countries within the region.
Region |
Countries Covered |
Latin America |
Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru, among other Latin American countries. |
Report Coverage
Key Attributes |
Details |
Product Name |
Acetic Acid |
Report Features |
Exploration of Historical Trends and Market Outlook, Industry Demand, Industry Supply, Gap Analysis, Challenges, Acetic Acid Price Analysis, and Segment-Wise Assessment. |
Currency/Units |
US$ (Data can also be provided in local currency) or Metric Tons |
Region/Countries Covered |
The current coverage includes analysis at the global and regional levels only.
Based on your requirements, we can also customize the report and provide specific information for the following countries:
Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand*
Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece*
North America: United States and Canada
Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru*
Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco*
*The list of countries presented is not exhaustive. Information on additional countries can be provided if required by the client. |
Information Covered for Key Suppliers |
- Company Overview
- Business Description
- Product Portfolio
- Recent Trends and Developments
|
Customization Scope |
The report can be customized as per the requirements of the customer |
Report Price and Purchase Option |
Plan A: Monthly Updates - Annual Subscription
- Scope
- Historical Data for the Current Month
- Forecast for Next Month
- Total Deliverables Per Year: 12 (One Per Month)
- Includes: One PDF and Excel datasheet per month, Post Purchase Analyst Support throughout the year
Plan B: Quarterly Updates - Annual Subscription
- Scope
- Historical Data for the Current Quarter
- Forecast for Next Quarter
- Total Deliverables Per Year: 4 (One Per Quarter)
- Includes: One PDF and Excel datasheet per Quarter, Post Purchase Analyst Support throughout the year
Plan C: Biannually Updates - Annual Subscription
- Scope
- Historical Data for the Current Half
- Forecast for the Next Half
- Total Deliverables Per Year: 2 (One Per 6 Months)
- Includes: One PDF and Excel datasheet per Half, Post Purchase Analyst Support throughout the year
|
Post-Sale Analyst Support |
360-degree analyst support after report delivery |
Delivery Format |
PDF and Excel through email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Benefits for Stakeholders:
- IMARC’s report presents a detailed analysis of acetic acid pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
- The study examines factors affecting acetic acid price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
- The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
- IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The acetic acid price charts ensure our clients remain at the forefront of the industry.