ASEAN: Ethanal Market 2024

Ethanal Market Size in ASEAN

The ASEAN ethanal market amounted to $X in 2022, with an increase of 3.4% against the previous year. Over the period under review, consumption continues to indicate a slight increase. Over the period under review, the market attained the peak level at $X in 2014; afterwards, it flattened through to 2022.

Ethanal Production in ASEAN

In value terms, ethanal production stood at $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 19% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Ethanal Exports

Exports in ASEAN

In 2022, after two years of growth, there was significant decline in overseas shipments of ethanal (acetaldehyde), when their volume decreased by -43.1% to X tons. Over the period under review, exports saw a mild decline. The pace of growth appeared the most rapid in 2021 with an increase of 74% against the previous year. As a result, the exports reached the peak of X tons, and then declined markedly in the following year.

In value terms, ethanal exports dropped sharply to $X in 2022. Overall, exports, however, recorded temperate growth. The pace of growth was the most pronounced in 2016 when exports increased by 184% against the previous year. The level of export peaked at $X in 2021, and then plummeted in the following year.

Exports by Country

Thailand was the key exporting country with an export of around X tons, which finished at 59% of total exports. Singapore (X tons) ranks second in terms of the total exports with a 22% share, followed by Indonesia (16%). Malaysia (X kg) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to ethanal exports from Thailand stood at -1.7%. At the same time, Indonesia (+9.2%) and Malaysia (+4.9%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +9.2% from 2012-2022. By contrast, Singapore (-4.0%) illustrated a downward trend over the same period. Indonesia (+10 p.p.) significantly strengthened its position in terms of the total exports, while Thailand and Singapore saw its share reduced by -3.6% and -7.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest ethanal supplying countries in ASEAN were Indonesia ($X), Thailand ($X) and Singapore ($X), together comprising 98% of total exports. Malaysia lagged somewhat behind, comprising a further 2.3%.

Malaysia, with a CAGR of +12.7%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries 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 2022, rising by 15% against the previous year. Export price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ethanal export price decreased by -9.9% against 2020 indices. The growth pace was the most rapid in 2016 when the export price increased by 74%. The level of export peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+7.4%), while the other leaders experienced more modest paces of growth.

Ethanal Imports

Imports in ASEAN

In 2022, the amount of ethanal (acetaldehyde) imported in ASEAN shrank notably to X tons, which is down by -78.8% against the previous year's figure. Over the period under review, imports, however, recorded a remarkable increase. The growth pace was the most rapid in 2017 when imports increased by 414%. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, ethanal imports surged to $X in 2022. Overall, imports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2019 with an increase of 58%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Indonesia (X tons) and the Philippines (X tons) were the key importers of ethanal (acetaldehyde) in 2022, resulting at approx. 40% and 26% of total imports, respectively. Singapore (X tons) took the next position in the ranking, followed by Cambodia (X tons). All these countries together took approx. 31% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Cambodia (with a CAGR of +33.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest ethanal importing markets in ASEAN were Indonesia ($X), Singapore ($X) and the Philippines ($X), together comprising 92% of total imports.

The Philippines, with a CAGR of +36.4%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries 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 2022, jumping by 637% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. Over the period under review, import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat 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 Singapore ($X per ton), while Cambodia ($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 (+17.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform