ASEAN: Quinones Market 2024

Quinones Market Size in ASEAN

The ASEAN quinones market reached $X in 2022, with an increase of 9.5% against the previous year. The total consumption indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.1% 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 +60.7% against 2016 indices. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.

Quinones Production in ASEAN

In value terms, quinones production rose to $X in 2022 estimated in export price. Overall, production, however, saw a abrupt curtailment. The most prominent rate of growth was recorded in 2018 when the production volume increased by 1,403%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Quinones Exports

Exports in ASEAN

For the third consecutive year, ASEAN recorded growth in shipments abroad of quinones, which increased by 24% to X tons in 2022. In general, exports showed noticeable growth. The growth pace was the most rapid in 2018 with an increase of 606%. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, quinones exports skyrocketed to $X in 2022. Overall, exports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 667% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

Myanmar (X tons) and Singapore (X tons) represented roughly 99% of total exports in 2022.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Myanmar (with a CAGR of +53.6%).

In value terms, the largest quinones supplying countries in ASEAN were Myanmar ($X) and Singapore ($X).

In terms of the main exporting countries, Myanmar, with a CAGR of +89.5%, saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, rising by 111% against the previous year. In general, the export price saw a buoyant expansion. The most prominent rate of growth was recorded in 2013 when the export price increased by 277%. Over the period under review, the export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Myanmar ($X per ton), while Singapore stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Myanmar (+23.4%).

Quinones Imports

Imports in ASEAN

In 2022, quinones imports in ASEAN expanded slightly to X tons, surging by 3.2% on the year before. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 32%. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, quinones imports fell modestly to $X in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 108%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Thailand dominates imports structure, resulting at X tons, which was near 78% of total imports in 2022. The Philippines (X tons) took an 8% share (based on physical terms) of total imports, which put it in second place, followed by Singapore (5.2%). The following importers - Vietnam (X tons), Indonesia (X tons) and Malaysia (X tons) - together made up 8.9% of total imports.

Imports into Thailand increased at an average annual rate of +3.1% from 2012 to 2022. At the same time, Vietnam (+9.6%) and the Philippines (+8.5%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +9.6% from 2012-2022. By contrast, Indonesia (-4.2%), Malaysia (-9.7%) and Singapore (-17.2%) illustrated a downward trend over the same period. Thailand (+25 p.p.), the Philippines (+4.7 p.p.) and Vietnam (+2.3 p.p.) significantly strengthened its position in terms of the total imports, while Malaysia and Singapore saw its share reduced by -3.2% and -26.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) constitutes the largest market for imported quinones in ASEAN, comprising 82% of total imports. The second position in the ranking was taken by Singapore ($X), with a 6.2% share of total imports. It was followed by Indonesia, with a 4.3% share.

From 2012 to 2022, the average annual growth rate of value in Thailand was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Singapore (-8.5% per year) and Indonesia (-1.4% per year).

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, waning by -3.7% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the import price increased by 57% against the previous year. The level of import peaked at $X per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per ton), while the Philippines ($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 (+10.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform