ASEAN: O-Acetylsalicylic Acid Market 2024

O-Acetylsalicylic Acid Market Size in ASEAN

The ASEAN o-acetylsalicylic acid market stood at $X in 2021, standing approx. at the previous year. The total consumption indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +3.9% 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 decreased by -15.8% against 2017 indices. The level of consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

O-Acetylsalicylic Acid Production in ASEAN

In value terms, o-acetylsalicylic acid production reached $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.0% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2017 when the production volume increased by 9%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

O-Acetylsalicylic Acid Exports

Exports in ASEAN

In 2021, the amount of o-acetylsalicylic acid, its salts and esters exported in ASEAN stood at X tons, increasing by 2.5% on the previous year. In general, exports, however, saw a pronounced contraction. The growth pace was the most rapid in 2018 when exports increased by 14% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, o-acetylsalicylic acid exports fell modestly to $X in 2021. Overall, exports, however, continue to indicate a perceptible setback. The growth pace was the most rapid in 2018 when exports increased by 19%. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

The biggest shipments were from Thailand (X tons), together accounting for 100% of total export.

Thailand was also the fastest-growing in terms of the o-acetylsalicylic acid, its salts and esters exports, with a CAGR of -3.9% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) also remains the largest o-acetylsalicylic acid supplier in ASEAN.

In Thailand, o-acetylsalicylic acid exports contracted by an average annual rate of -3.8% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, which is down by -5.5% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 18% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Thailand.

From 2012 to 2021, the rate of growth in terms of prices for Thailand amounted to +0.0% per year.

O-Acetylsalicylic Acid Imports

Imports in ASEAN

In 2021, overseas purchases of o-acetylsalicylic acid, its salts and esters increased by 11% to X tons, rising for the third consecutive year after six years of decline. In general, imports, however, saw a noticeable setback. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, o-acetylsalicylic acid imports rose to $X in 2021. Over the period under review, imports, however, saw a perceptible descent. The growth pace was the most rapid in 2019 with an increase of 17% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Indonesia (X tons) was the main importer of o-acetylsalicylic acid, its salts and esters, making up 46% of total imports. Malaysia (X tons) ranks second in terms of the total imports with a 23% share, followed by Thailand (15%) and Vietnam (13%). The Philippines (X tons) took a little share of total imports.

Imports into Indonesia decreased at an average annual rate of -3.7% from 2012 to 2021. At the same time, Malaysia (+16.6%), the Philippines (+14.7%) and Vietnam (+10.9%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +16.6% from 2012-2021. By contrast, Thailand (-6.0%) illustrated a downward trend over the same period. Malaysia (+18 p.p.), Vietnam (+8.8 p.p.) and the Philippines (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while Indonesia and Thailand saw its share reduced by -4.4% and -5.3% from 2012 to 2021, respectively.

In value terms, Indonesia ($X) constitutes the largest market for imported o-acetylsalicylic acid, its salts and esters in ASEAN, comprising 45% of total imports. The second position in the ranking was held by Malaysia ($X), with a 22% share of total imports. It was followed by Thailand, with a 15% share.

In Indonesia, o-acetylsalicylic acid imports decreased by an average annual rate of -3.3% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Malaysia (+18.7% per year) and Thailand (-7.4% per year).

Import Prices by Country

In 2021, the import price in ASEAN amounted to $X per ton, which is down by -6.8% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the import price increased by 7.6% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2019; however, from 2020 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 ($X per ton) and Thailand ($X per ton), while Vietnam ($X per ton) and Malaysia ($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 (+3.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform