Acetic Acid Price in USA
- United States: 595 USD/MT
In December of Q4 2023, the price of acetic acid in the United States peaked at 595 USD/MT. Anticipated strong demand from the international market is likely to persist, keeping market inventories at elevated levels.
The latest report by IMARC Group, 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
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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 its extensive use in various industrial applications, particularly in the manufacture of vinyl acetate monomer (VAM) and purified terephthalic acid (PTA), which are precursors for producing polyvinyl alcohol (PVOH) and polyethylene terephthalate (PET), respectively. These polymers are integral to numerous consumer goods, including packaging materials, textiles, and bottles, reflecting a direct correlation between the consumer goods industry's growth and acetic acid demand. Additionally, acetic acid is employed in food and beverage production as an acidity regulator and condiment, further amplifying its market reach. The ongoing innovations in industrial processes and green chemistry also promote the use of acetic acid in more environmentally friendly applications, including as a solvent and reagent in chemical syntheses, boosting its demand in the chemical sector. This growth is supported by the global shift towards sustainable practices, where acetic acid's role in producing biodegradable plastics positions it as a key player in green initiatives.
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 prices of acetic acid in the last quarter have been influenced by a complex interplay of supply chain dynamics, production costs, and global economic policies. The North America region observed a stable supply of acetic acid during the current quarter of 2023 (Q4) with the plants operating at a consistent pace. However, the demand from the downstream industries was lacklustre, especially from the construction industry, resulting in a decline in prices. The high level of inventories in the market further added to the pressure of lower prices. The Q4 2023 for Acetic Acid in the Asia Pacific region has been affected by the high level of inventories in the market and the rise in production costs due to an increase in prices of natural gas and coal has also impacted the market. South Korea has seen the most significant changes in prices with a -38% decrease from the previous quarter, a -33% decrease in price between the first and second half of the quarter. Moreover, the European market for acetic acid in Q4 2023 saw stability due to consistent imports, with prices remaining unchanged as compared to the previous quarter. The market was influenced by heavy destocking activities, high inventories, and rising production costs due to increasing natural gas prices. Feedstock acetic acid prices also increased, which eventually transmitted downstream through the supply chain.
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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 Trend
- 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, Columbia, 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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