ASEAN: Nucleic Acid Market 2024

Nucleic Acid Market Size in ASEAN

In 2022, after two years of growth, there was significant decline in the ASEAN nucleic acid market, when its value decreased by -6.6% to $X. The market value increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Nucleic Acid Production in ASEAN

In value terms, nucleic acid production expanded to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the production volume increased by 62%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Nucleic Acid Exports

Exports in ASEAN

Nucleic acid exports skyrocketed to X tons in 2022, with an increase of 51% on the year before. Total exports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +102.7% against 2013 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, nucleic acid exports skyrocketed to $X in 2022. Overall, exports, however, continue to indicate a mild curtailment. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Indonesia represented the main exporting country with an export of about X tons, which finished at 75% of total exports. It was distantly followed by Singapore (X tons), making up a 21% share of total exports. Thailand (X tons) took a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to nucleic acid exports from Indonesia stood at +6.0%. At the same time, Thailand (+38.6%) and Singapore (+9.0%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +38.6% from 2012-2022. While the share of Thailand (+3.6 p.p.) and Singapore (+3.6 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Indonesia (-6.6 p.p.) displayed negative dynamics.

In value terms, Singapore ($X) remains the largest nucleic acid supplier in ASEAN, comprising 82% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 16% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Singapore totaled -2.2%. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (-0.6% per year) and Thailand (+23.9% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, with an increase of 12% against the previous year. Overall, the export price, however, recorded a abrupt decline. The most prominent rate of growth was recorded in 2020 an increase of 45% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (-6.3%), while the other leaders experienced a decline in the export price figures.

Nucleic Acid Imports

Imports in ASEAN

For the fourth consecutive year, ASEAN recorded growth in supplies from abroad of nucleic acids and their salts, which increased by 15% to X tons in 2022. Total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +7.3% 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 +102.8% against 2012 indices. The pace of growth was the most pronounced in 2017 when imports increased by 19% against the previous year. The volume of import peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, nucleic acid imports surged to $X in 2022. The total import value increased at an average annual rate of +4.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when imports increased by 27%. The level of import peaked in 2022 and is likely to continue growth in years to come.

Imports by Country

The purchases of the three major importers of nucleic acids and their salts, namely Indonesia, Thailand and Vietnam, represented more than two-thirds of total import. Singapore (X tons) took a 13% share (based on physical terms) of total imports, which put it in second place, followed by Malaysia (5.6%). The Philippines (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +15.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Indonesia ($X) and Thailand ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 81% of total imports. Vietnam, the Philippines and Malaysia lagged somewhat behind, together accounting for a further 19%.

Vietnam, with a CAGR of +13.6%, recorded 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, rising by 9.7% against the previous year. In general, the import price, however, continues to indicate a perceptible decrease. The growth pace was the most rapid in 2015 when the import price increased by 15% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 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 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 Vietnam (+2.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform