ASEAN: Butanone Market 2024

Butanone Market Size in ASEAN

The ASEAN butanone market expanded to $X in 2022, with an increase of 3% against the previous year. The total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +7.3% against 2018 indices. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in the immediate term.

Butanone Production in ASEAN

In value terms, butanone production totaled $X in 2022 estimated in export price. Overall, production enjoyed resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of 100% against the previous year. The level of production peaked in 2022 and is likely to see gradual growth in years to come.

Butanone Exports

Exports in ASEAN

In 2022, approx. X tons of butanone (methyl ethyl ketone) were exported in ASEAN; rising by 1.7% on the year before. In general, exports, however, continue to indicate a drastic downturn. The pace of growth appeared the most rapid in 2016 when exports increased by 49% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, butanone exports rose notably to $X in 2022. Overall, exports, however, recorded a deep contraction. The growth pace was the most rapid in 2021 with an increase of 27% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Singapore (X tons) represented the largest exporter of butanone (methyl ethyl ketone), constituting 82% of total exports. It was distantly followed by Vietnam (X tons), generating a 15% share of total exports. Thailand (X tons) followed a long way behind the leaders.

Exports from Singapore decreased at an average annual rate of -13.9% from 2012 to 2022. At the same time, Vietnam (+66.8%) and Thailand (+19.3%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +66.8% from 2012-2022. Vietnam (+15 p.p.) and Thailand (+1.8 p.p.) significantly strengthened its position in terms of the total exports, while Singapore saw its share reduced by -12.3% from 2012 to 2022, respectively.

In value terms, Singapore ($X) remains the largest butanone supplier in ASEAN, comprising 91% of total exports. The second position in the ranking was held by Vietnam ($X), with a 7.3% share of total exports.

In Singapore, butanone exports shrank by an average annual rate of -7.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Vietnam (+65.5% per year) and Thailand (+12.7% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, rising by 5% against the previous year. Export price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butanone export price increased by +17.2% against 2018 indices. The pace of growth appeared the most rapid in 2017 when the export price increased by 40% against the previous year. Over the period under review, the export prices reached the peak figure in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Vietnam ($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 (+7.2%), while the other leaders experienced a decline in the export price figures.

Butanone Imports

Imports in ASEAN

In 2022, supplies from abroad of butanone (methyl ethyl ketone) decreased by -7.3% to X tons for the first time since 2011, thus ending a ten-year rising trend. Total imports indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 with an increase of 13%. Over the period under review, imports reached the peak figure at X tons in 2021, and then fell in the following year.

In value terms, butanone imports expanded markedly to $X in 2022. Total imports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +7.6% against 2018 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 34%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.

Imports by Country

Vietnam (X tons) and Indonesia (X tons) represented roughly 57% of total imports in 2022. Thailand (X tons) held the next position in the ranking, followed by Malaysia (X tons), Singapore (X tons) and the Philippines (X tons). All these countries together held approx. 42% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Vietnam (with a CAGR of +14.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest butanone importing markets in ASEAN were Vietnam ($X), Indonesia ($X) and Thailand ($X), with a combined 73% share of total imports. Malaysia, the Philippines and Singapore lagged somewhat behind, together comprising a further 27%.

In terms of the main importing countries, the Philippines, with a CAGR of +12.4%, 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

In 2022, the import price in ASEAN amounted to $X per ton, jumping by 20% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the import price increased by 30% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+6.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform