ASEAN: Starch Manufacture Residues Market 2024

Starch Manufacture Residues Market Size in ASEAN

In 2022, the ASEAN starch manufacture residues market decreased by -0.5% to $X, falling for the third year in a row after eight years of growth. Over the period under review, consumption, however, posted a strong expansion. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Starch Manufacture Residues Production in ASEAN

In value terms, starch manufacture residues production stood at $X in 2022 estimated in export price. In general, production continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2018 with an increase of 31% against the previous year. The level of production peaked at $X in 2020; afterwards, it flattened through to 2022.

Starch Manufacture Residues Exports

Exports in ASEAN

In 2022, overseas shipments of residues of starch manufacture increased by 20% to X tons, rising for the third consecutive year after three years of decline. In general, exports, however, recorded a perceptible slump. The pace of growth was the most pronounced in 2021 when exports increased by 41% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, starch manufacture residues exports skyrocketed to $X in 2022. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by 70%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Thailand dominates exports structure, finishing at X tons, which was approx. 93% of total exports in 2022. Indonesia (X tons) and Vietnam (X tons) held a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to starch manufacture residues exports from Thailand stood at -5.5%. At the same time, Indonesia (+31.9%) and Vietnam (+25.8%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +31.9% from 2012-2022. From 2012 to 2022, the share of Indonesia and Vietnam increased by +2.8 and +2.1 percentage points, respectively.

In value terms, Thailand ($X) remains the largest starch manufacture residues supplier in ASEAN, comprising 83% of total exports. The second position in the ranking was taken by Vietnam ($X), with an 8% share of total exports.

In Thailand, starch manufacture residues exports shrank by an average annual rate of -2.4% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (+28.8% per year) and Indonesia (+37.0% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, surging by 7% against the previous year. Overall, the export price saw pronounced growth. The growth pace was the most rapid in 2019 when the export price increased by 55%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Thailand ($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 (+3.9%), while the other leaders experienced more modest paces of growth.

Starch Manufacture Residues Imports

Imports in ASEAN

In 2022, the amount of residues of starch manufacture imported in ASEAN declined to X tons, with a decrease of -2.5% on 2021. The total import volume increased at an average annual rate of +2.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 when imports increased by 24%. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, starch manufacture residues imports stood at $X in 2022. The total import value increased at an average annual rate of +3.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 40%. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

Imports by Country

Indonesia was the main importer of residues of starch manufacture in ASEAN, with the volume of imports reaching X tons, which was near 55% of total imports in 2022. Vietnam (X tons) held a 20% share (based on physical terms) of total imports, which put it in second place, followed by Thailand (12%) and Malaysia (10%). The Philippines (X tons) followed a long way behind the leaders.

Indonesia experienced a relatively flat trend pattern with regard to volume of imports of residues of starch manufacture. At the same time, Vietnam (+10.3%), Malaysia (+8.9%) and Thailand (+4.2%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +10.3% from 2012-2022. By contrast, the Philippines (-6.7%) illustrated a downward trend over the same period. Vietnam (+11 p.p.), Malaysia (+4.8 p.p.) and Thailand (+2.2 p.p.) significantly strengthened its position in terms of the total imports, while the Philippines and Indonesia saw its share reduced by -2.8% and -15.6% from 2012 to 2022, respectively.

In value terms, Indonesia ($X) constitutes the largest market for imported residues of starch manufacture in ASEAN, comprising 57% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 20% share of total imports. It was followed by Thailand, with a 12% share.

From 2012 to 2022, the average annual growth rate of value in Indonesia amounted to +1.3%. In the other countries, the average annual rates were as follows: Vietnam (+10.9% per year) and Thailand (+6.0% per year).

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, picking up by 11% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The pace of growth appeared the most rapid in 2021 an increase of 24%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

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 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 the Philippines (+12.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform