ASEAN: Maleic Anhydride Market 2024

Maleic Anhydride Market Size in ASEAN

The ASEAN maleic anhydride market was estimated at $X in 2021, approximately mirroring the previous year. The total consumption indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +57.0% against 2019 indices. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Maleic Anhydride Production in ASEAN

In value terms, maleic anhydride production reduced to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2017 with an increase of 16%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Maleic Anhydride Exports

Exports in ASEAN

In 2021, shipments abroad of maleic anhydride was finally on the rise to reach X tons after three years of decline. Total exports indicated a measured expansion from 2012 to 2021: its volume increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, maleic anhydride exports soared to $X in 2021. Over the period under review, exports saw a perceptible expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Malaysia was the largest exporter of maleic anhydride in ASEAN, with the volume of exports finishing at X tons, which was approx. 88% of total exports in 2021. It was distantly followed by Indonesia (X tons), creating a 12% share of total exports.

Malaysia was also the fastest-growing in terms of the maleic anhydride exports, with a CAGR of +3.8% from 2012 to 2021. Indonesia (-4.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Malaysia increased by +11 percentage points.

In value terms, Malaysia ($X) remains the largest maleic anhydride supplier in ASEAN, comprising 88% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 12% share of total exports.

In Malaysia, maleic anhydride exports expanded at an average annual rate of +4.3% over the period from 2012-2021.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, jumping by 69% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The level of export peaked at $X per ton in 2013; afterwards, it flattened through to 2021.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while Indonesia amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+0.5%).

Maleic Anhydride Imports

Imports in ASEAN

In 2021, the amount of maleic anhydride imported in ASEAN rose remarkably to X tons, increasing by 13% compared with 2020. Total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +6.5% 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 +32.5% against 2019 indices. The pace of growth was the most pronounced in 2020 when imports increased by 17% against the previous year. Over the period under review, imports attained the maximum in 2021 and are likely to see steady growth in the near future.

In value terms, maleic anhydride imports soared to $X in 2021. Total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.1% 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 +86.2% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Singapore represented the largest importing country with an import of around X tons, which reached 44% of total imports. Malaysia (X tons) took a 22% share (based on physical terms) of total imports, which put it in second place, followed by Thailand (12%), Indonesia (10%) and Vietnam (9.7%). The Philippines (X tons) followed a long way behind the leaders.

Imports into Singapore increased at an average annual rate of +7.3% from 2012 to 2021. At the same time, Vietnam (+17.4%), the Philippines (+12.1%), Malaysia (+8.6%) and Indonesia (+7.4%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +17.4% from 2012-2021. By contrast, Thailand (-2.4%) illustrated a downward trend over the same period. Vietnam (+5.7 p.p.), Malaysia (+3.6 p.p.) and Singapore (+2.9 p.p.) significantly strengthened its position in terms of the total imports, while Thailand saw its share reduced by -14.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) constitutes the largest market for imported maleic anhydride in ASEAN, comprising 44% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 19% share of total imports. It was followed by Thailand, with a 12% share.

In Singapore, maleic anhydride imports expanded at an average annual rate of +6.1% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Malaysia (+5.1% per year) and Thailand (-2.9% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2021, growing by 58% against the previous year. Overall, the import price, however, showed a slight decline. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in the Philippines ($X per ton) and Vietnam ($X per ton), while Malaysia ($X per ton) and Singapore ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+0.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform