Acetals And Hemiacetals And Their Halogenated; Sulphonated; Nitrated Or Nitrosated Derivatives Market

The global market for acetals and hemiacetals and their derivatives is anticipated to continue its upward consumption trend, with the market volume estimated to reach 176K tons by the end of 2030. Market performance is expected to expand with a CAGR of +1.0% from 2022 to 2030, bringing the market value to $2.2B by 2030. In 2022, approximately 162K tons of acetals and hemiacetals derivatives were consumed worldwide, slightly declining compared to the previous year. The highest volumes of consumption were noted in China, the United States, and India. The market for acetals and hemiacetals derivatives is also influenced by key producing and importing countries such as Germany, Saudi Arabia, Belgium, and the United States. Overall, the global market is forecasted to witness a steady uptrend in both production and consumption levels, impacting market value and trade dynamics.

Market Forecast

Driven by increasing demand for acetals and hemiacetals and their halogenated; sulphonated; nitrated or nitrosated derivatives worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.0% for the period from 2022 to 2030, which is projected to bring the market volume to 176K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.1% for the period from 2022 to 2030, which is projected to bring the market value to $2.2B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Acetals And Hemiacetals And Their Halogenated; Sulphonated; Nitrated Or Nitrosated Derivatives

In 2022, approx. 162K tons of acetals and hemiacetals and their halogenated; sulphonated; nitrated or nitrosated derivatives were consumed worldwide; declining by -4.6% compared with 2021. In general, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak volume of 185K tons. From 2018 to 2022, the growth of the global consumption of failed to regain momentum.

The revenue of the market for acetals and hemiacetals and their halogenated; sulphonated; nitrated or nitrosated derivatives worldwide shrank modestly to $1.7B in 2022, remaining constant against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $2.6B. From 2017 to 2022, the growth of the global market failed to regain momentum.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (36K tons), the United States (29K tons) and India (15K tons), with a combined 49% share of global consumption. Slovakia, Brazil, Russia, Japan, Mexico, Germany, Italy, Saudi Arabia, Canada and South Korea lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2022, the most notable rate of growth in terms of derivatives, amongst the key consuming countries, was attained by Germany (with a CAGR of +9.9%), while derivatives for the other global leaders experienced more modest paces of growth.

In value terms, the largest acetals and hemiacetals and their halogenated; sulphonated; nitrated or nitrosated derivatives markets worldwide were China ($388M), Russia ($239M) and India ($219M), together accounting for 50% of the global market. The United States, Mexico, Brazil, Slovakia, Japan, Germany, Canada, Italy, South Korea and Saudi Arabia lagged somewhat behind, together accounting for a further 22%.

Saudi Arabia, with a CAGR of +9.2%, recorded the highest rates of growth with regard to market size among the main consuming countries over the period under review, while derivatives for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of per capita consumption of acetals and hemiacetals and their halogenated; sulphonated; nitrated or nitrosated derivatives was registered in Slovakia (1,102 kg per 1000 persons), followed by the United States (85 kg per 1000 persons), Saudi Arabia (84 kg per 1000 persons) and Canada (75 kg per 1000 persons), while the world average per capita consumption of acetals and hemiacetals and their halogenated; sulphonated; nitrated or nitrosated derivatives was estimated at 21 kg per 1000 persons.

In Slovakia, per capita consumption of acetals and hemiacetals and their halogenated; sulphonated; nitrated or nitrosated derivatives remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (-1.7% per year) and Saudi Arabia (+5.5% per year).

Production

World Production of Acetals And Hemiacetals And Their Halogenated; Sulphonated; Nitrated Or Nitrosated Derivatives

Global production of acetals and hemiacetals and their halogenated; sulphonated; nitrated or nitrosated derivatives contracted modestly to 159K tons in 2022, remaining constant against the previous year. In general, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by 9.9%. As a result, production attained the peak volume of 183K tons. From 2018 to 2022, global production of growth failed to regain momentum.

In value terms, production of acetals and hemiacetals and their halogenated; sulphonated; nitrated or nitrosated derivatives surged to $1.8B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Global production peaked at $2.1B in 2016; however, from 2017 to 2022, production failed to regain momentum.

Production By Country

The countries with the highest volumes of production in 2022 were China (36K tons), the United States (29K tons) and India (16K tons), with a combined 51% share of global production. Slovakia, Brazil, Russia, Germany, Japan, Mexico, South Korea, Saudi Arabia, Canada and Iran lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2022, the most notable rate of growth in terms of derivatives, amongst the leading producing countries, was attained by Saudi Arabia (with a CAGR of +8.9%), while derivatives for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Acetals And Hemiacetals And Their Halogenated; Sulphonated; Nitrated Or Nitrosated Derivatives

In 2022, purchases abroad of acetals and hemiacetals and their halogenated; sulphonated; nitrated or nitrosated derivatives decreased by -31% to 18K tons for the first time since 2019, thus ending a two-year rising trend. Overall, total imports indicated a pronounced expansion from 2012 to 2022: its volume increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 44%. As a result, imports reached the peak of 26K tons, and then contracted notably in the following year.

In value terms, imports of acetals and hemiacetals and their halogenated; sulphonated; nitrated or nitrosated derivatives reduced to $90M in 2022. The total import value increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. The growth pace was the most rapid in 2021 with an increase of 35% against the previous year. As a result, imports attained the peak of $103M, and then fell in the following year.

Imports By Country

In 2022, Belgium (3.7K tons), distantly followed by China (1.5K tons), Spain (1.3K tons), the United States (1.2K tons), Germany (1.2K tons) and France (1.2K tons) represented the largest importers of acetals and hemiacetals and their halogenated; sulphonated; nitrated or nitrosated derivatives, together generating 56% of total imports. South Korea (777 tons), Japan (658 tons), Italy (630 tons), the Netherlands (538 tons), Brazil (526 tons), Turkey (493 tons) and Switzerland (462 tons) followed a long way behind the leaders.

Imports into Belgium increased at an average annual rate of +23.2% from 2012 to 2022. At the same time, Turkey (+33.0%), South Korea (+26.8%), China (+16.8%), Brazil (+15.8%), the United States (+6.3%), Japan (+6.2%) and Germany (+4.3%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing importer imported in the world, with a CAGR of +33.0% from 2012-2022. Italy experienced a relatively flat trend pattern. By contrast, the Netherlands (-1.4%), Switzerland (-3.4%), France (-5.4%) and Spain (-5.6%) illustrated a downward trend over the same period. While the share of Belgium (+17 p.p.), China (+5.9 p.p.), South Korea (+3.8 p.p.), Turkey (+2.6 p.p.), Brazil (+2 p.p.) and the United States (+1.6 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of the Netherlands (-1.9 p.p.), Switzerland (-2.6 p.p.), France (-9.4 p.p.) and Spain (-11.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest acetals and hemiacetals and their halogenated; sulphonated; nitrated or nitrosated derivatives importing markets worldwide were the United States ($12M), Belgium ($8.7M) and Switzerland ($6.4M), with a combined 30% share of global imports.

In terms of the main importing countries, Belgium, with a CAGR of +27.2%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average import price for acetals and hemiacetals and their halogenated; sulphonated; nitrated or nitrosated derivatives stood at $5,072 per ton in 2022, rising by 27% against the previous year. In general, the import price, however, saw a slight decrease. Global import price peaked at $6,265 per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Switzerland ($13,731 per ton), while Belgium ($2,361 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+9.9%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Acetals And Hemiacetals And Their Halogenated; Sulphonated; Nitrated Or Nitrosated Derivatives

Global exports of acetals and hemiacetals and their halogenated; sulphonated; nitrated or nitrosated derivatives shrank to 15K tons in 2022, with a decrease of -10.8% on the year before. Over the period under review, exports recorded a slight decrease. The most prominent rate of growth was recorded in 2017 when exports increased by 15% against the previous year. The global exports peaked at 17K tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of acetals and hemiacetals and their halogenated; sulphonated; nitrated or nitrosated derivatives shrank to $83M in 2022. Overall, exports recorded a slight curtailment. The pace of growth was the most pronounced in 2021 with an increase of 23% against the previous year. Over the period under review, the global exports of reached the peak figure at $108M in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports By Country

In 2022, Belgium (5.6K tons) was the major exporter of acetals and hemiacetals and their halogenated; sulphonated; nitrated or nitrosated derivatives, constituting 38% of total exports. It was distantly followed by Germany (2.1K tons), the United States (1.7K tons), South Korea (1.6K tons), China (1.3K tons) and India (0.8K tons), together making up a 51% share of total exports. Japan (348 tons) followed a long way behind the leaders.

Belgium experienced a relatively flat trend pattern with regard to volume of exports of acetals and hemiacetals and their halogenated; sulphonated; nitrated or nitrosated derivatives. At the same time, South Korea (+41.0%), India (+9.2%), China (+7.6%) and the United States (+1.6%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in the world, with a CAGR of +41.0% from 2012-2022. By contrast, Germany (-2.1%) and Japan (-4.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of South Korea, Belgium, China, India and the United States increased by +11, +5.1, +5.1, +3.3 and +3.2 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($14M), Belgium ($13M) and Germany ($12M) were the countries with the highest levels of exports in 2022, with a combined 46% share of global exports. India, the United States, South Korea and Japan lagged somewhat behind, together comprising a further 24%.

In terms of the main exporting countries, South Korea, with a CAGR of +34.9%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average export price for acetals and hemiacetals and their halogenated; sulphonated; nitrated or nitrosated derivatives stood at $5,626 per ton in 2022, with an increase of 1.9% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average export price increased by 15%. The global export price peaked at $7,180 per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($10,736 per ton), while Belgium ($2,361 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+3.1%), while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform