ASEAN: Cyclic Hydrocarbons Market 2024

Cyclic Hydrocarbons Market Size in ASEAN

After four years of decline, the ASEAN cyclic hydrocarbons market increased by 5.2% to $X in 2021. In general, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Cyclic Hydrocarbons Production in ASEAN

In value terms, cyclic hydrocarbons production expanded modestly to $X in 2021 estimated in export price. Overall, production enjoyed a perceptible expansion. The most prominent rate of growth was recorded in 2013 with an increase of 29% against the previous year. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Cyclic Hydrocarbons Exports

Exports in ASEAN

Cyclic hydrocarbons exports soared to X tons in 2021, rising by 28% compared with the year before. In general, exports showed a resilient expansion. The pace of growth was the most pronounced in 2014 with an increase of 389% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the near future.

In value terms, cyclic hydrocarbons exports reached $X in 2021. Over the period under review, exports saw a prominent expansion. The most prominent rate of growth was recorded in 2014 with an increase of 202% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Malaysia represented the main exporting country with an export of around X tons, which recorded 75% of total exports. Thailand (X tons) ranks second in terms of the total exports with a 13% share, followed by Singapore (8.4%). Indonesia (X tons) took a minor share of total exports.

From 2012 to 2021, average annual rates of growth with regard to cyclic hydrocarbons exports from Malaysia stood at +38.7%. At the same time, Indonesia (+48.5%), Singapore (+6.1%) and Thailand (+2.3%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +48.5% from 2012-2021. From 2012 to 2021, the share of Malaysia and Indonesia increased by +55 and +2.5 percentage points, respectively.

In value terms, Malaysia ($X) remains the largest cyclic hydrocarbons supplier in ASEAN, comprising 59% of total exports. The second position in the ranking was held by Singapore ($X), with a 15% share of total exports. It was followed by Thailand, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Malaysia totaled +21.3%. In the other countries, the average annual rates were as follows: Singapore (+4.4% per year) and Thailand (-5.5% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, which is down by -13% against the previous year. Over the period under review, the export price continues to indicate a abrupt descent. The pace of growth appeared the most rapid in 2015 an increase of 63%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Indonesia ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+12.9%), while the other leaders experienced a decline in the export price figures.

Cyclic Hydrocarbons Imports

Imports in ASEAN

In 2021, purchases abroad of other cyclic hydrocarbons increased by 15% to X tons, rising for the second consecutive year after three years of decline. In general, imports, however, recorded a deep downturn. The pace of growth appeared the most rapid in 2016 when imports increased by 60% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, cyclic hydrocarbons imports skyrocketed to $X in 2021. Over the period under review, imports, however, recorded a deep slump. The most prominent rate of growth was recorded in 2016 when imports increased by 27% against the previous year. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Thailand (X tons) and Indonesia (X tons) were the major importers of other cyclic hydrocarbons in 2021, finishing at approx. 30% and 30% of total imports, respectively. The Philippines (X tons) ranks next in terms of the total imports with a 15% share, followed by Singapore (7.9%) and Malaysia (5.6%). Myanmar (X tons) and Vietnam (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Singapore (with a CAGR of +14.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Thailand ($X) and the Philippines ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 63% of total imports. Singapore, Malaysia, Vietnam and Myanmar lagged somewhat behind, together comprising a further 31%.

Among the main importing countries, Myanmar, with a CAGR of +10.9%, recorded 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

The import price in ASEAN stood at $X per ton in 2021, increasing by 7.2% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.8%. The pace of growth appeared the most rapid in 2019 when the import price increased by 22% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the import prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Malaysia ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+5.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform