ASEAN: Plant-Growth Regulators Market 2024

Plant-Growth Regulators Market Size in ASEAN

The ASEAN plant-growth regulators market dropped to $X in 2022, reducing by -14.9% against the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then contracted in the following year.

Plant-Growth Regulators Production in ASEAN

In value terms, plant-growth regulators production fell slightly to $X in 2022 estimated in export price. The total production indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -11.4% against 2019 indices. The pace of growth appeared the most rapid in 2013 when the production volume increased by 47% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Plant-Growth Regulators Exports

Exports in ASEAN

In 2022, exports of plant-growth regulators in ASEAN rose notably to X tons, surging by 12% against the previous year. Total exports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +7.8% 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 +59.0% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 49% against the previous year. The volume of export peaked at X tons in 2017; afterwards, it flattened through to 2022.

In value terms, plant-growth regulators exports expanded rapidly to $X in 2022. Total exports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +8.7% 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 +65.7% against 2019 indices. The pace of growth was the most pronounced in 2013 when exports increased by 78% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

In 2022, Malaysia (X tons) was the main exporter of plant-growth regulators, committing 66% of total exports. Indonesia (X tons) took the second position in the ranking, distantly followed by Vietnam (X tons) and Singapore (X tons). All these countries together took near 32% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to plant-growth regulators exports from Malaysia stood at +9.0%. At the same time, Indonesia (+20.6%) and Vietnam (+9.2%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +20.6% from 2012-2022. By contrast, Singapore (-8.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Indonesia and Malaysia increased by +15 and +7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest plant-growth regulators supplying countries in ASEAN were Malaysia ($X), Indonesia ($X) and Vietnam ($X), together accounting for 90% of total exports.

Indonesia, with a CAGR of +17.6%, saw the highest growth rate of the value of exports, in terms of 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, with an increase of 2.2% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 22% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Malaysia ($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 (+4.1%), while the other leaders experienced mixed trends in the export price figures.

Plant-Growth Regulators Imports

Imports in ASEAN

In 2022, approx. X tons of plant-growth regulators were imported in ASEAN; waning by -7.7% on 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by 31% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, plant-growth regulators imports reached $X in 2022. Total imports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +4.9% 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 +56.0% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 51% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Thailand was the main importer of plant-growth regulators in ASEAN, with the volume of imports recording X tons, which was approx. 40% of total imports in 2022. Indonesia (X tons) ranks second in terms of the total imports with a 15% share, followed by the Philippines (13%), Vietnam (11%), Malaysia (8.7%) and Cambodia (8.1%). Myanmar (X tons) took a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to plant-growth regulators imports into Thailand stood at -2.1%. At the same time, Myanmar (+76.7%), Cambodia (+36.1%), Malaysia (+12.5%), the Philippines (+7.4%) and Indonesia (+3.7%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +76.7% from 2012-2022. By contrast, Vietnam (-8.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the Philippines, Cambodia, Malaysia, Indonesia and Myanmar increased by +13, +7.7, +5.8, +3.7 and +2.1 percentage points, respectively.

In value terms, Thailand ($X) constitutes the largest market for imported plant-growth regulators in ASEAN, comprising 41% of total imports. The second position in the ranking was held by Indonesia ($X), with a 19% share of total imports. It was followed by Vietnam, with a 14% share.

In Thailand, plant-growth regulators imports increased at an average annual rate of +2.1% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Indonesia (+7.4% per year) and Vietnam (+0.1% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, growing by 15% against the previous year. Import price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plant-growth regulators import price increased by +86.8% against 2016 indices. The most prominent rate of growth was recorded in 2021 an increase of 18%. Over the period under review, import prices reached the peak figure in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Indonesia ($X per ton), while Myanmar ($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 (+10.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform