ASEAN: Phenylacetic Acid Market 2024

Phenylacetic Acid Market Size in ASEAN

The ASEAN phenylacetic acid market declined to $X in 2022, shrinking by X% against the previous year. The total consumption indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Phenylacetic Acid Production in ASEAN

In value terms, phenylacetic acid production fell to $X in 2022 estimated in export price. Overall, production, however, posted a measured increase. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Phenylacetic Acid Exports

Exports in ASEAN

In 2022, shipments abroad of phenylacetic acid, its salts and esters increased by X% to X tons, rising for the fourth consecutive year after four years of decline. Overall, exports recorded strong growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, phenylacetic acid exports surged to $X in 2022. In general, exports enjoyed buoyant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Singapore represented the major exporter of phenylacetic acid, its salts and esters in ASEAN, with the volume of exports accounting for X tons, which was approx. X% of total exports in 2022. It was distantly followed by Malaysia (X tons), committing a X% share of total exports. Indonesia (X tons) followed a long way behind the leaders.

Exports from Singapore increased at an average annual rate of X% from 2012 to 2022. At the same time, Malaysia (X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2022. By contrast, Indonesia (X%) illustrated a downward trend over the same period. Malaysia (X p.p.) significantly strengthened its position in terms of the total exports, while Singapore and Indonesia saw its share reduced by X% and X% from 2012 to 2022, respectively.

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

From 2012 to 2022, the average annual rate of growth in terms of value in Singapore amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (X% per year) and Indonesia (X% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, falling by X% against the previous year. Export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, phenylacetic acid export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other leaders experienced more modest paces of growth.

Phenylacetic Acid Imports

Imports in ASEAN

In 2022, after two years of growth, there was significant decline in overseas purchases of phenylacetic acid, its salts and esters, when their volume decreased by X% to X tons. Total imports indicated a modest expansion from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2019 indices. The growth pace was the most rapid in 2015 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, phenylacetic acid imports amounted to $X in 2022. Total imports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2018 indices. The most prominent rate of growth was recorded in 2015 with an increase of X%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

Indonesia was the main importer of phenylacetic acid, its salts and esters in ASEAN, with the volume of imports reaching X tons, which was near X% of total imports in 2022. It was distantly followed by Malaysia (X tons), Singapore (X tons), Thailand (X tons) and Vietnam (X tons), together making up a X% share of total imports. The following importers - Cambodia (X tons) and the Philippines (X tons) - each resulted at a X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Cambodia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Malaysia ($X) and Singapore ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Thailand, Vietnam, the Philippines and Cambodia lagged somewhat behind, together comprising a further X%.

Cambodia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among 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, picking up by X% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform