ASEAN: Market for Benzoyl Peroxide And Benzoyl Chloride 2024

Market Size for Benzoyl Peroxide And Benzoyl Chloride in ASEAN

The ASEAN benzoyl peroxide and chloride market surged to $X in 2022, with an increase of 154% against the previous year. In general, consumption saw buoyant growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Benzoyl Peroxide And Benzoyl Chloride in ASEAN

In value terms, benzoyl peroxide and chloride production reduced modestly to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 11%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Exports of Benzoyl Peroxide And Benzoyl Chloride

Exports in ASEAN

In 2022, after two years of growth, there was significant decline in shipments abroad of benzoyl peroxide and benzoyl chloride, when their volume decreased by -10.7% to X tons. Over the period under review, exports, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2018 with an increase of 40%. Over the period under review, the exports hit record highs at X tons in 2021, and then dropped in the following year.

In value terms, benzoyl peroxide and chloride exports surged to $X in 2022. In general, exports, however, recorded a remarkable increase. The pace of growth appeared the most rapid in 2018 with an increase of 51%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

Indonesia dominates exports structure, reaching X tons, which was approx. 95% of total exports in 2022. The following exporters - Malaysia (X tons) and Singapore (X tons) - together made up 4.9% of total exports.

Indonesia was also the fastest-growing in terms of the benzoyl peroxide and benzoyl chloride exports, with a CAGR of +8.6% from 2012 to 2022. Malaysia and Singapore experienced a relatively flat trend pattern. While the share of Indonesia (+5.9 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Singapore (-2.6 p.p.) and Malaysia (-2.7 p.p.) displayed negative dynamics.

In value terms, Indonesia ($X) remains the largest benzoyl peroxide and chloride supplier in ASEAN, comprising 93% of total exports. The second position in the ranking was held by Singapore ($X), with a 4.7% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Indonesia stood at +12.0%. In the other countries, the average annual rates were as follows: Singapore (+5.2% per year) and Malaysia (+4.3% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, increasing by 29% against the previous year. Over the last decade, it increased at an average annual rate of +3.1%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+5.1%), while the other leaders experienced more modest paces of growth.

Imports of Benzoyl Peroxide And Benzoyl Chloride

Imports in ASEAN

In 2022, benzoyl peroxide and chloride imports in ASEAN soared to X tons, rising by 164% compared with the previous year. Over the period under review, imports enjoyed strong growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, benzoyl peroxide and chloride imports skyrocketed to $X in 2022. In general, imports showed buoyant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Indonesia dominates imports structure, recording X tons, which was approx. 83% of total imports in 2022. The Philippines (X tons) ranks second in terms of the total imports with a 5.5% share, followed by Thailand (4.9%). Vietnam (X tons) and Malaysia (X tons) followed a long way behind the leaders.

Indonesia was also the fastest-growing in terms of the benzoyl peroxide and benzoyl chloride imports, with a CAGR of +22.0% from 2012 to 2022. At the same time, the Philippines (+9.8%), Thailand (+8.5%) and Vietnam (+6.8%) displayed positive paces of growth. Malaysia experienced a relatively flat trend pattern. Indonesia (+30 p.p.) significantly strengthened its position in terms of the total imports, while the Philippines, Vietnam, Thailand and Malaysia saw its share reduced by -4.7%, -4.9%, -5.3% and -7.6% from 2012 to 2022, respectively.

In value terms, Indonesia ($X) constitutes the largest market for imported benzoyl peroxide and benzoyl chloride in ASEAN, comprising 65% of total imports. The second position in the ranking was held by the Philippines ($X), with a 13% share of total imports. It was followed by Thailand, with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Indonesia amounted to +21.3%. In the other countries, the average annual rates were as follows: the Philippines (+16.5% per year) and Thailand (+10.2% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, falling by -26.2% against the previous year. Over the period under review, the import price saw a mild curtailment. The pace of growth was the most pronounced in 2021 when the import price increased by 15%. The level of import peaked at $X per ton in 2018; however, from 2019 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 the Philippines ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+6.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform