Acetic Acid Price in USA
- United States: 595 USD/MT
In December, the price of acetic acid in the United States for Q4 2023 peaked at $595 per metric ton. Anticipated strong demand from the international market and expected high inventories suggest a stable market outlook.
The latest report by IMARC, titled " Acetic Acid Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data " delivers a comprehensive analysis of acetic acid prices on a global and regional scale, highlighting the pivotal factors contributing to price changes. This detailed examination includes spot price evaluations at key ports and an analysis of pricing structures, such as Ex Works, FOB, and CIF, across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Acetic Acid Prices December 2023:
- United States: 595 USD/MT
- South Korea: 491 USD/MT (Glacial)
- Belgium: 769 USD/MT (Glacial)
- Saudi Arabia: 389 USD/MT
Report Offering:
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The study delves into the factors affecting acetic acid price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.
The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.
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Acetic Acid Price Trend - Q4 2023
The acetic acid market is primarily driven by robust demand from key downstream industries such as the construction, textile, and food sectors. In particular, the increasing use of vinyl acetate monomer (VAM) and purified terephthalic acid (PTA), which are both derivatives of acetic acid, supports market growth. VAM is extensively used in the production of adhesives and paints, whereas PTA is a critical component in the manufacture of polyester, which is used in clothing and packaging. Additionally, the shift towards more sustainable and eco-friendly solvents has highlighted acetic acid as a preferable option due to its biodegradable nature. Innovations in production technology that improve yield and reduce costs have also contributed positively to market dynamics. Furthermore, the expansion of acetate esters in the food industry as flavoring and preservative agents continues to open new avenues for acetic acid applications. Despite these positive indicators, the market remains sensitive to fluctuations in raw material costs and global economic conditions, which can quickly alter the supply-demand landscape.
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 . In North America, acetic acid prices in the first quarter of 2024 were influenced by a combination of steady demand from the construction industry and stable supply dynamics. Government initiatives to bolster the construction workforce indirectly supported acetic acid consumption. Despite minor disruptions like weather-related plant shutdowns, the market demonstrated resilience with companies promptly resuming production.
The APAC region, particularly South Korea, observed a significant decline in acetic acid prices, driven by weak demand from construction and other downstream industries. The market was also affected by reduced feedstock costs and an oversupply situation, leading to a substantial 28% year-on-year price decline and a steep 45% drop from the previous quarter. These factors contributed to a negative pricing environment throughout the region, with South Korea experiencing a continued price decline throughout the quarter.
In Europe, acetic acid prices were impacted by several factors including the subdued performance of methanol, a key raw material, which did not support a price increase. High inventory levels and steady import prices from major exporters like China further exerted downward pressure. The broader economic context, including high interest rates maintained by the European Central Bank, also dampened demand by reducing purchasing power in downstream markets. Consequently, prices remained under pressure despite stable supply conditions.
In the MEA region, particularly in Saudi Arabia, acetic acid prices fell significantly due to decreased demand from downstream sectors and an abundance of supply. The ongoing low cost of methanol further decreased production expenses, contributing to lower acetic acid prices. The quarter saw a significant 39% annual decrease in prices and a 10% quarter-on-quarter decline, reflecting the region's negative pricing trends driven by ample supply and favorable feedstock costs.
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Key Points Covered in the Acetic Acid Pricing Report:
The report delivers the following key findings, alongside a comprehensive breakdown of prices by region:
- Acetic Acid Prices
- Acetic Acid Price Index
- Acetic Acid Demand Supply
- Acetic Acid Market Analysis
- Demand Supply Analysis by Type
- Demand Supply Analysis by Application
- Demand Supply Analysis of Raw Materials
- Acetic Acid Price Analysis
- Acetic Acid Industry Drivers, Restraints, and Opportunities
- Acetic Acid News and Recent developments
- Global Event Analysis
- List of Key Players
Regional Price Analysis:
- 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, Colombia, Chile, Ecuador, and Peru
- Middle East Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco
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Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
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