ASEAN: Ethylene Oxide Market 2025

Ethylene Oxide Market Size in ASEAN

The ASEAN ethylene oxide market skyrocketed to $X in 2022, rising by 27% against the previous year. The total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +9.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +34.5% against 2019 indices. The level of consumption peaked in 2022 and is expected to retain growth in the near future.

Ethylene Oxide Production in ASEAN

In value terms, ethylene oxide production declined to $X in 2022 estimated in export price. Overall, production saw a dramatic decrease. The pace of growth was the most pronounced in 2019 when the production volume increased by 35% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Ethylene Oxide Exports

Exports in ASEAN

Ethylene oxide exports reduced markedly to X tons in 2022, falling by -25.6% against the year before. Over the period under review, exports, however, showed a notable increase. The most prominent rate of growth was recorded in 2017 when exports increased by 158% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, ethylene oxide exports fell to $X in 2022. Overall, exports, however, recorded a perceptible increase. The pace of growth appeared the most rapid in 2017 with an increase of 124%. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia was the key exporting country with an export of about X tons, which finished at 69% of total exports. Thailand (X tons) held a 21% share (based on physical terms) of total exports, which put it in second place, followed by Cambodia (5.8%). Singapore (X tons) followed a long way behind the leaders.

Exports from Malaysia increased at an average annual rate of +1.2% from 2012 to 2022. At the same time, Cambodia (+50.8%), Thailand (+8.3%) and Singapore (+6.7%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +50.8% from 2012-2022. While the share of Thailand (+7.9 p.p.) and Cambodia (+5.8 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Malaysia (-14.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest ethylene oxide supplying countries in ASEAN were Malaysia ($X), Thailand ($X) and Singapore ($X), together comprising 96% of total exports. These countries were followed by Cambodia, which accounted for a further 2.3%.

Cambodia, with a CAGR of +35.8%, saw the highest growth rate of 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, jumping by 17% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 32% against the previous year. Over the period under review, the export prices reached the maximum in 2022 and is likely to see gradual growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+12.1%), while the other leaders experienced a decline in the export price figures.

Ethylene Oxide Imports

Imports in ASEAN

In 2022, imports of oxirane (ethylene oxide) in ASEAN totaled X tons, picking up by 13% against the previous year. Total imports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +10.7% 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 +39.2% against 2014 indices. The pace of growth appeared the most rapid in 2014 with an increase of 50%. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, ethylene oxide imports skyrocketed to $X in 2022. Total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +10.2% 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 +27.8% against 2020 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 56% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

Malaysia (X tons), Vietnam (X tons), Thailand (X tons) and Singapore (X tons) represented roughly 89% of total imports in 2022. It was distantly followed by Indonesia (X tons), creating a 5% share of total imports. The Philippines (X tons) and Cambodia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Cambodia (with a CAGR of +44.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Singapore ($X) and Malaysia ($X) were the countries with the highest levels of imports in 2022, together comprising 78% of total imports. These countries were followed by Vietnam, Indonesia, Cambodia and the Philippines, which together accounted for a further 21%.

Cambodia, with a CAGR of +52.8%, recorded the highest growth rate of 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

In 2022, the import price in ASEAN amounted to $X per ton, with an increase of 6.6% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 11% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while Vietnam ($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 (+6.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform