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Acetic Acid Price Trend and Forecast

Acetic Acid Production Cost Report: Operating Costs, Logistics, Utilities, Manufacturing Process, and Raw Material Requirements See more

Procurement Resource provides latest prices of Acetic Acid. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.

Acetic Acid Regional Price Trend & Analysis

Get the latest insights on price movement and trend analysis of Acetic Acid in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Acetic Acid Price Trend for the Second Quarter of 2022
 

Asia

The average price of acetic acid is constantly fluctuating in the Asian market. The cost of acetic acid in the Chinese market went from 774 USD/MT (April) to 718 USD/MT towards the end of this quarter. This sharp decrease in the market was caused by the reduced export volumes and overflooding inventories.

Amidst the declining demand from the downstream sectors, many manufacturing units such as Yangtze INEOS and Celanese Nanjing restarted their production, causing excessive supply in the market. The sellers were forced to sell the product at a lower price to eliminate the stockpiles and make room for new developments in the next quarter.

Europe

The European picture was quite the opposite to its Asian counterpart. The price trends of acetic acid remained strong. Owing to the ongoing Russia-Ukraine confrontation, crude oil prices hit a new maximum, thereby increasing the energy costs in Europe.

Also, the supply chain disruptions because of shortages in the global supply of critical raw materials like methanol due to rising freight charges and transportation costs aided the prices to grow staggeringly high. Acetic acid price per ton averaged 1851 USD- 1975 USD as of June 2022.

North America

Amid the already constricted supply and strong demand from the end-user industries, acetic acid prices rose consistently. Despite the overflowing volumes in the Chinese market, many manufacturers in China could not fulfil their contracts with their USA counterparts (force majeure), creating further shortages in the US market.

Analyst Insight

According to Procurement Resource, the price trends for acetic acid will likely register a downward trend in the upcoming months. With the easing up of supply chains and opening of ports, the upstream cost pressure will finally stabilize. Also, the dwindling market demand will cause the prices to crash, leading to stockpiling inventories.

For the First Quarter of 2022
 

Asia

Acetic acid prices were on the rise towards the end of March, rising from 4250 RMB/MT to 5220 RMB/MT. In a single day, the average market price in East China jumped by 2.82%. The supply of the chemical in East China was restricted due to the overhaul of the chemical in Nanjing Acetyl and Shanghai Huayi, which raised the industry's attitude. In other sections of the country, quotations were raised, and downstream on-demand was rationally purchased. Rising demand for the product from Vinyl Acetate Monomer (VAM) companies throughout the world was a major driver of market expansion. VAM utilises the vast bulk of the chemical generated across the world.

For the Fourth Quarter of 2021
 

Asia

In the fourth quarter, falling demand lowered the price of acetic acid in Asia. Due to weakening demand from downstream sectors and sufficient supplies, Chinese acetic acid prices fell cumulatively this quarter. Laxmi Organics, a leading Indian company, was seen importing large quantities of the chemical from Celanese PTE Ltd. to meet their acetyl derivatives demand. In the near term, a drop in Chinese acetic acid prices is projected to keep downward pressure on both imported and local offers. The negative supply of the chemical in the global region, as a result of weak export activity in India, South Korea, and Belgium, had an impact on prices. The derivative prices, primarily ethyl acetate and butyl acetate, have also been stabilised. Acetic acid prices in China were 970 USD/MT FOB Qingdao in the last week of December, with prices ranging between 956 USD/MT and 977 USD/MT through the quarter.

North America

With poor demand and ample supply in North America, the price trend has been steadily declining. However, when compared to the same year's Q2 and Q3, the prices were on the high side. Prices have risen because to limited supplies and concerns about the omicron Covid-19 version. Although US production of the chemical gradually resumed, accessible amounts for export to Europe remained limited. This was due to poor production rates caused by difficulty obtaining raw materials such as methanol, as well as regular maintenance. Acetic acid prices in the US market were 1450 USD/MT FOB Texas and 1476 USD/MT FOB Louisiana.

This pricing trend was noticed as demand recovered in the domestic market of the United States. Upstream methanol production on the Gulf Coast of the United States ran at a high level of efficiency, as supply improved in response to recovering acetic acid demand. Major market participants carefully managed their plants in accordance with market demand. Demand for downstream ethyl acetate and butyl acetate was modest at the start of the new year, with demand falling seasonally.

Europe

Acetic acid prices in Europe spiked in October and November before beginning to fall in December. In October and November, Germany's rates were 1805 USD/MT DDP Hamburg and 1845 USD/MT DDP Hamburg, respectively. Acetic acid prices increased to multi-month and multi-year highs across Europe as a result of a global supply shortage. The situation was made even more challenging by long transportation periods and restricted freight capacity. The supply chain was at risk, with reduced container availability and rising freight costs. In December, low demand and enough supply caused the price to fall to 1824 USD/MT DDP Hamburg. During this time, the price of feedstock methanol and coal fluctuated, affecting the price of the chemical. Consumer demand for downstream derivatives such as ethyl acetate and butyl acetate was poor, and consumers began to purchase on a need-to basis. New orders were restricted, according to market participants, and inventory levels were high.

Latin America

At the end of the year 2021, the price was recorded at 470 USD/MT Mexico due to a healthy demand from end-use segments.

For First, Second and Third Quarters of 2021
 

Asia

Throughout the quarter, the supply of the chemical improved, but stayed balanced, as several key plants in China restarted after a turnaround since late December. The demand in the APAC area was driven by steady consumption from downstream sectors. Increased prices in the Asian market were caused by increased demand and the lack of supply. Prices in India also continued to rise, with an average of 982 USD/MT on CFR JNPT basis. Due to the rise in the price of the feedstock methanol, the Asia Pacific market saw an exponential growth in its prices in the third quarter of 2021.

Furthermore, in China, the shutdown of the Ningbo-Zhoushan port for nearly two weeks in August, as well as congestion at the country's other ports, caused a disruption in the supply chain, affecting the chemical's availability in the region. Furthermore, in July, the plants in Guangxi and Anhui Huayi were shut down for around 3-4 weeks for maintenance, adding to market tightness. Due to a container shortage in India, high freight charges contributed to the quarter's rising price trend. Acetic acid prices increased by 211.29 USD/MT in September, bringing them to 1371.91 USD/MT for the first time since July. Due to China's zero-tolerance coronavirus policy, prices in the country were variable. In September, the monthly average price FOB Qingdao was 1110 USD/MT, up 25 USD/MT from August's price.

North America

During the first quarter of 2021, regional supplies were tight due to the limited availability of feedstock and rising methanol costs. Due to adverse weather conditions in Texas and the Gulf of Mexico, Celanese declared force majeure in mid-February and postponed the expansion of its new acetic acid facility due to unfavourable market conditions. In mid-February, CFR New York acetic acid prices were around 930 USD/MT, while FOB Texas settlements were rangebound between 775-780 USD/MT due to persistently tight supply. However, demand remained buoyant as major economies across the world normalised, owing to a robust increase in downstream VAM consumption as well as for delivering anticipated export orders. After Hurricane Ida interrupted many manufacturing sites in August, acetic acid supply remained limited throughout North America.

Due to severe climate crises, the industrial infrastructure in the US Gulf region remained closed, resulting in a demand-supply imbalance. During Q3, demand for the chemical and downstream goods was considered modest in both the domestic and international markets. In addition, leakage at LyondellBasell's Texas plant in July, as well as concerns about delta variant spread, weighed on market sentiments. Increases in raw material prices continued to have an impact on acetic acid pricing all across the world. FOB U.S.A. acetic acid prices soared to 430 USD/MT in September, demonstrating a persistent increase since July, owing to a constant supply shortfall. The demand was increased by steady consumption from downstream VAM and acetic anhydride segments, which raised regional offerings at the time.

Europe

Supplies in the European region were tight in the first quarter of 2021, as imports from the United States were limited owing to plant disruptions, followed by sharply rising costs in the region. Although, the increased demand from downstream acetate sectors boosted overall demand. Due to intense rivalry in the local market, dealers in northwest Europe were keen to get additional volumes, resulting in acetic acid price increase across Europe. Due to the shutdown of LyondellBasell's La Porte facility, one of the world's largest suppliers of acetic acid, the supply in the European region constricted in the third quarter of 2021.

LyondellBasell's factory was one of the most important exporters of acetic acid and VAM, hence its closure had an influence not just on the European market but also on the global market for the chemical. Furthermore, the Meishan terminal at Ningbo port was overburdened, resulting in a raw material shortage in Europe. Raw material price increases, combined with increased demand for downstream products, continued to cause ripples in the region's acetic acid pricing. In the fourth quarter, DDP-Germany increased monthly average pricing by 110 USD/MT.

Latin America

In 2021, the price remained relatively stable at 470 USD/MT Mexico, as a result of a healthy demand from the construction sector and the growth in the textile sector.

For the Year 2020
 

Asia

As several plants resumed operations and ramped up production following protracted delays in several regions of Southeast Asia, the Asian market grabbed the lead in the third quarter due to robust demand from the downstream industries. In Q3 2020, Chinese acetic acid operating rates improved significantly, staying around 80-82%, compared to the low 60s in the previous quarter. Increased activity in the Indian market, which reported robust performance from acetyl intermediates and downstream Vinyl Acetate Monomer (VAM), offered further support to Acetic Acid futures, which headed towards recovery.

As players reported a jump in demand from downstream VAM makers, all main Middle Eastern Acetic Acid production sites were running at improved rates. When compared to the previous quarter, prices increased dramatically, but customers appeared to be able to withstand the claimed increase. The price in China overall increased during 2020 from 366 USD/MT in January to 714 USD/MT in December.

North America

Due to negative sentiments in the United States and Canada, the North American market for the chemical remained under pressure in the third quarter. The second quarter saw a significant drop in quarterly numbers for major Acetic Acid producers in the region, owing to a weakened acrylic acetyl chain segment, which fell by double digits year over year due to a persistent decline in industry pricing due to a down market for raw materials. The price recorded a small change from January to December, from 441 USD to 475 USD/MT.

Europe

The European market recorded a very stable market during 2020 as prices remained constant at 618 USD/MT in the UK and 489 USD/MT in Germany. The overall market reported growth due to healthy demand in end-use sectors and imports.

Latin America

In the region of Latin America, the price decreased slightly from January, where it was recorded at 480 USD/MT, to 470 USD/MT in December. But the demand saw a moderate increase in the industrial sectors such as construction, textiles, and others. People's high incomes and industrialization increased demand for ethanoic acid in the construction industry. Application in the production of VAM has also increased healthy demand.

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About:

Acetic Acid is known to be a colourless liquid organic compound with a pungent smell. When undiluted, it is often coined as glacial acetic acid. Vinegar is no less than 4% acetic acid in volume, thus, making acetic acid the primary element of vinegar apart from water. It has a distinctive sour taste and it contains a methyl group linked to a carboxyl group. It is primarily manufactured as a precursor to PVA (polyvinyl acetate), household vinegar, and cellulose acetate.

Product Details:

Report Features Details
Product Name Acetic Acid
Chemical Formula C2H4O2 
Industrial Uses Intermediates, Acetic Anhydride, Ester, Vinyl Acetate Monomer, Vinegar, Polymeric materials
Molecular Weight 60.05 g/mol
Synonyms Ethanoic acid, 64-19-7, Ethylic Acid, Acetic Acid, Glacial
Supplier Database LyondellBasell Industries Holdings B.V., British Petroleum Plc, Celanese Corporation, Eastman Chemical Company, Jiangsu SOPO (Group) Co., Ltd, Yankuang Group
Region/Countries Covered Asia Pacific: China , India, Indonesia, Pakistan,  Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand,  South Korea, Iraq, Saudi Arabia, Malaysia, Nepal,  Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore,  Oman, Kuwait, Qatar, 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

Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
Currency US$ (Data can also be provided in local currency)
Supplier Database Availability Yes
Customization Scope The report can be customized as per the requirements of  the customer
Post-Sale Analyst Support 360-degree analyst support after report delivery


Production Processes:

  • Production of Acetic Acid via Methanol; via Acetaldehyde; via Ethylene; and via Butane

While producing Acetic Acid from methanol, the process of carbonylation is carried out. Carbon monoxide is utilised as a source of carbonylation and the reaction is carried out in the presence of a catalyst along with water, producing Acetic Acid.

Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.

Methodology:

The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).

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