ASEAN: Basic Dye Market 2024

Basic Dye Market Size in ASEAN

In 2021, the ASEAN basic dye market decreased by -1% to $X for the first time since 2018, thus ending a two-year rising trend. The market value increased at an average annual rate of +3.6% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $X in 2020, and then fell modestly in the following year.

Basic Dye Production in ASEAN

In value terms, basic dye production rose rapidly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when the production volume increased by 33%. The level of production peaked at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Basic Dye Exports

Exports in ASEAN

Basic dye exports surged to X tons in 2021, picking up by 42% on 2020. Total exports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +6.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 66%. The volume of export peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, basic dye exports soared to $X in 2021. The total export value increased at an average annual rate of +5.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 with an increase of 56% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to continue growth in the immediate term.

Exports by Country

Malaysia was the major exporter of basic dyes and preparations based thereon in ASEAN, with the volume of exports accounting for X tons, which was near 54% of total exports in 2021. Thailand (X tons) took a 22% share (based on physical terms) of total exports, which put it in second place, followed by Singapore (14%) and Indonesia (6.7%). The Philippines (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to basic dye exports from Malaysia stood at +32.4%. At the same time, the Philippines (+65.1%) and Thailand (+16.1%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +65.1% from 2012-2021. By contrast, Singapore (-6.2%) and Indonesia (-6.9%) illustrated a downward trend over the same period. Malaysia (+46 p.p.), Thailand (+12 p.p.) and the Philippines (+1.8 p.p.) significantly strengthened its position in terms of the total exports, while Indonesia and Singapore saw its share reduced by -16.1% and -31.5% from 2012 to 2021, respectively.

In value terms, Singapore ($X), Thailand ($X) and Malaysia ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 84% share of total exports. Indonesia and the Philippines lagged somewhat behind, together accounting for a further 15%.

Among the main exporting countries, the Philippines, with a CAGR of +66.5%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, reducing by -14.2% against the previous year. Over the period under review, the export price showed a slight setback. The most prominent rate of growth was recorded in 2020 an increase of 38%. As a result, the export price attained the peak level of $X per ton, and then dropped in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+8.9%), while the other leaders experienced more modest paces of growth.

Basic Dye Imports

Imports in ASEAN

In 2021, overseas purchases of basic dyes and preparations based thereon increased by 10% to X tons, rising for the fifth year in a row after two years of decline. Total imports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +6.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +58.4% against 2016 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 17%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, basic dye imports declined slightly to $X in 2021. Total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +58.8% against 2013 indices. The most prominent rate of growth was recorded in 2014 with an increase of 26% against the previous year. The level of import peaked at $X in 2020, and then dropped in the following year.

Imports by Country

In 2021, Vietnam (X tons), Malaysia (X tons), Thailand (X tons) and Indonesia (X tons) was the largest importer of basic dyes and preparations based thereon in ASEAN, constituting 91% of total import. It was distantly followed by the Philippines (X tons), committing a 6.2% 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 the Philippines (with a CAGR of +14.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest basic dye importing markets in ASEAN were Vietnam ($X), Thailand ($X) and Indonesia ($X), with a combined 78% share of total imports. These countries were followed by Malaysia and the Philippines, which together accounted for a further 18%.

Among the main importing countries, the Philippines, with a CAGR of +13.7%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2021, dropping by -10% against the previous year. Overall, the import price recorded a slight decline. The pace of growth was the most pronounced in 2016 when the import price increased by 13% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+4.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform