ASEAN: Aromatic Alcohols Market 2024

Aromatic Alcohols Market Size in ASEAN

In 2021, after two years of decline, there was significant growth in the ASEAN aromatic alcohols market, when its value increased by 19% to $X. The market value increased at an average annual rate of +1.2% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Aromatic Alcohols Production in ASEAN

In value terms, aromatic alcohols production amounted to $X in 2021 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 22%. As a result, production reached the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Aromatic Alcohols Exports

Exports in ASEAN

In 2021, after two years of growth, there was significant decline in overseas shipments of aromatic alcohols and their derivatives, when their volume decreased by -85.7% to X tons. Over the period under review, exports continue to indicate a abrupt descent. The growth pace was the most rapid in 2020 when exports increased by 522% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, aromatic alcohols exports contracted rapidly to $X in 2021. In general, exports showed a abrupt descent. The most prominent rate of growth was recorded in 2020 when exports increased by 120%. The level of export peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Singapore was the major exporting country with an export of about X tons, which recorded 73% of total exports. Malaysia (X tons) held the second position in the ranking, distantly followed by Vietnam (X tons). All these countries together took near 20% share of total exports. The following exporters - Indonesia (X tons) and Thailand (X tons) - together made up 7.3% of total exports.

From 2012 to 2021, average annual rates of growth with regard to aromatic alcohols exports from Singapore stood at -16.9%. At the same time, Indonesia (+5.2%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +5.2% from 2012-2021. By contrast, Malaysia (-2.7%), Vietnam (-12.2%) and Thailand (-23.6%) illustrated a downward trend over the same period. Malaysia (+9.8 p.p.), Indonesia (+3.8 p.p.) and Vietnam (+1.9 p.p.) significantly strengthened its position in terms of the total exports, while Thailand and Singapore saw its share reduced by -4.2% and -11.2% from 2012 to 2021, respectively.

In value terms, Singapore ($X) remains the largest aromatic alcohols supplier in ASEAN, comprising 75% of total exports. The second position in the ranking was held by Malaysia ($X), with an 11% share of total exports. It was followed by Indonesia, with an 8.2% share.

In Singapore, aromatic alcohols exports declined by an average annual rate of -14.6% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (-7.6% per year) and Indonesia (+2.9% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, rising by 170% against the previous year. In general, the export price posted a noticeable increase. Over the period under review, the export prices reached the maximum at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+18.0%), while the other leaders experienced mixed trends in the export price figures.

Aromatic Alcohols Imports

Imports in ASEAN

In 2021, approx. X tons of aromatic alcohols and their derivatives were imported in ASEAN; with an increase of 15% against the year before. The total import volume increased at an average annual rate of +1.2% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 21%. The volume of import peaked in 2021 and is likely to see steady growth in years to come.

In value terms, aromatic alcohols imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +4.1% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 when imports increased by 29%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

Imports by Country

Singapore was the key importer of aromatic alcohols and their derivatives in ASEAN, with the volume of imports finishing at X tons, which was near 43% of total imports in 2021. It was distantly followed by Indonesia (X tons), Thailand (X tons), Vietnam (X tons) and Malaysia (X tons), together making up a 54% share of total imports. The Philippines (X tons) took a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Indonesia (with a CAGR of +7.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) constitutes the largest market for imported aromatic alcohols and their derivatives in ASEAN, comprising 44% of total imports. The second position in the ranking was taken by the Philippines ($X), with a 21% share of total imports. It was followed by Indonesia, with an 18% share.

In Singapore, aromatic alcohols imports increased at an average annual rate of +4.3% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: the Philippines (+34.7% per year) and Indonesia (+3.8% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2021, approximately reflecting the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.9%. The pace of growth appeared the most rapid in 2019 when the import price increased by 17%. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was the Philippines ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+33.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform