Exporting Acetic Acid to the World in the Past Year

As a leading exporter of acetic acid in China, we have been closely monitoring the market trends and dynamics of this chemical in the past year, especially in the context of the COVID-19 pandemic, the trade tensions between major economies, and the changing demands of customers.

Here are some key observations and insights that may shed light on the current market situation of acetic acid.

1. Production and Capacity

According to industry reports, the global production of acetic acid has remained stable or slightly increased in the past year, despite some temporary shutdowns or delays due to the pandemic. China, as the largest producer and exporter of acetic acid, has maintained its dominance in the global supply chain, followed by the US, Europe, and other Asian countries.

However, some market participants have raised concerns about the potential overcapacity and oversupply of acetic acid in the near future, which may lead to lower prices, thinner margins, and intensified competition.

2. Demand and Consumption

The demand for acetic acid has varied across different regions and sectors in the past year. On the one hand, the global demand for polyvinyl acetate (PVA) and vinyl acetate monomer (VAM), which are key end-uses of acetic acid, has declined due to the slowdown of construction, automotive, and textile industries, as well as the rising environmental concerns. This has also affected the demand for acetic acid as a feedstock for the production of these products.

On the other hand, the demand for other applications of acetic acid, such as solvents, esters, and food additives, has remained relatively stable or grown slightly, driven by the resilient consumer markets, the increasing awareness of health and safety, and the emergence of new technologies and industries. For example, the demand for acetic acid in the production of vaccines and medical equipment has surged due to the pandemic.

3. Price and Trade

The price of acetic acid has fluctuated in the past year, responding to the changes in supply and demand, as well as the geopolitical and macroeconomic factors. According to ICIS, the average price of acetic acid in Asia was around $375-390 per metric ton in June 2021, down from $430-460 in June 2020, but higher than the trough of $235-245 in November 2020.

In terms of trade, the volume and value of China's acetic acid exports have slightly decreased in the past year, partly due to the stricter quality and environmental regulations, as well as the higher logistics and production costs. However, China still exported over 3 million tons of acetic acid to more than 80 countries in 2020, accounting for more than half of the global trade volume.

Overall, the market situation of acetic acid has been relatively stable or mixed in the past year, reflecting the complex and diverse nature of this chemical and its applications. As a responsible and innovative exporter, we will continue to adapt to the market changes, optimize our product quality and services, and explore new opportunities and partnerships with customers around the world.

As a leading exporter of acetic acid in China, we have been closely monitoring the market trends and dynamics of this chemical in the past year, especially in the context of the COVID-19 pandemic, the trade tensions between major economies, and the changing demands of customers.

Here are some key observations and insights that may shed light on the current market situation of acetic acid.

1. Production and Capacity

According to industry reports, the global production of acetic acid has remained stable or slightly increased in the past year, despite some temporary shutdowns or delays due to the pandemic. China, as the largest producer and exporter of acetic acid, has maintained its dominance in the global supply chain, followed by the US, Europe, and other Asian countries.

However, some market participants have raised concerns about the potential overcapacity and oversupply of acetic acid in the near future, which may lead to lower prices, thinner margins, and intensified competition.

2. Demand and Consumption

The demand for acetic acid has varied across different regions and sectors in the past year. On the one hand, the global demand for polyvinyl acetate (PVA) and vinyl acetate monomer (VAM), which are key end-uses of acetic acid, has declined due to the slowdown of construction, automotive, and textile industries, as well as the rising environmental concerns. This has also affected the demand for acetic acid as a feedstock for the production of these products.

On the other hand, the demand for other applications of acetic acid, such as solvents, esters, and food additives, has remained relatively stable or grown slightly, driven by the resilient consumer markets, the increasing awareness of health and safety, and the emergence of new technologies and industries. For example, the demand for acetic acid in the production of vaccines and medical equipment has surged due to the pandemic.

3. Price and Trade

The price of acetic acid has fluctuated in the past year, responding to the changes in supply and demand, as well as the geopolitical and macroeconomic factors. According to ICIS, the average price of acetic acid in Asia was around $375-390 per metric ton in June 2021, down from $430-460 in June 2020, but higher than the trough of $235-245 in November 2020.

In terms of trade, the volume and value of China's acetic acid exports have slightly decreased in the past year, partly due to the stricter quality and environmental regulations, as well as the higher logistics and production costs. However, China still exported over 3 million tons of acetic acid to more than 80 countries in 2020, accounting for more than half of the global trade volume.

Overall, the market situation of acetic acid has been relatively stable or mixed in the past year, reflecting the complex and diverse nature of this chemical and its applications. As a responsible and innovative exporter, we will continue to adapt to the market changes, optimize our product quality and services, and explore new opportunities and partnerships with customers around the world.