Asia: Market for Butanols (Excluding Butan-1-Ol (N-Butyl Alcohol)) 2024

Market Size for Butanols (Excluding Butan-1-Ol (N-Butyl Alcohol)) in Asia

In 2021, the Asian market for butanols (excluding butan-1-ol (n-butyl alcohol)) was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +2.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Butanols (Excluding Butan-1-Ol (N-Butyl Alcohol)) in Asia

In value terms, butanols (excluding butan-1-ol (n-butyl alcohol)) production fell to $X in 2021 estimated in export price. The total production indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +3.2% against 2018 indices. The most prominent rate of growth was recorded in 2015 with an increase of 42%. As a result, production attained the peak level of $X. From 2016 to 2021, production growth remained at a lower figure.

Exports of Butanols (Excluding Butan-1-Ol (N-Butyl Alcohol))

Exports in Asia

In 2021, shipments abroad of butanols (excluding butan-1-ol (n-butyl alcohol)) increased by 0.7% to X tons, rising for the fourth year in a row after two years of decline. Total exports indicated a noticeable expansion from 2012 to 2021: its volume increased at an average annual rate of +4.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +86.2% against 2017 indices. The growth pace was the most rapid in 2018 when exports increased by 39%. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the immediate term.

In value terms, butanols (excluding butan-1-ol (n-butyl alcohol)) exports skyrocketed to $X in 2021. Total exports indicated a slight increase from 2012 to 2021: its value increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +133.9% against 2017 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Malaysia was the major exporting country with an export of about X tons, which accounted for 54% of total exports. It was distantly followed by Thailand (X tons), China (X tons), Taiwan (Chinese) (X tons) and Indonesia (X tons), together mixing up a 30% share of total exports. The following exporters - Japan (X tons) and Saudi Arabia (X tons) - each amounted to a 7.4% share of total exports.

Exports from Malaysia increased at an average annual rate of +13.6% from 2012 to 2021. At the same time, Thailand (+21.2%), China (+16.8%), Saudi Arabia (+15.1%) and Taiwan (Chinese) (+3.8%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in Asia, with a CAGR of +21.2% from 2012-2021. By contrast, Indonesia (-3.2%) and Japan (-11.7%) illustrated a downward trend over the same period. While the share of Malaysia (+29 p.p.), Thailand (+8.4 p.p.), China (+5.1 p.p.) and Saudi Arabia (+2.1 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Indonesia (-4.3 p.p.) and Japan (-13.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) remains the largest butanols (excluding butan-1-ol (n-butyl alcohol)) supplier in Asia, comprising 43% of total exports. The second position in the ranking was taken by China ($X), with a 9.3% share of total exports. It was followed by Taiwan (Chinese), with an 8.5% share.

In Malaysia, butanols (excluding butan-1-ol (n-butyl alcohol)) exports increased at an average annual rate of +9.7% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: China (+11.6% per year) and Taiwan (Chinese) (+3.2% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, increasing by 50% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible decline. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Indonesia ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+1.9%), while the other leaders experienced a decline in the export price figures.

Imports of Butanols (Excluding Butan-1-Ol (N-Butyl Alcohol))

Imports in Asia

In 2021, butanols (excluding butan-1-ol (n-butyl alcohol)) imports in Asia skyrocketed to X tons, jumping by 29% on 2020 figures. Total imports indicated mild growth from 2012 to 2021: its volume increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +69.5% against 2017 indices. The volume of import peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, butanols (excluding butan-1-ol (n-butyl alcohol)) imports surged to $X in 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons), distantly followed by South Korea (X tons), India (X tons) and Turkey (X tons) were the largest importers of butanols (excluding butan-1-ol (n-butyl alcohol)), together comprising 88% of total imports. The following importers - Singapore (X tons), Thailand (X tons) and the United Arab Emirates (X tons) - each amounted to a 6.3% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by the United Arab Emirates (with a CAGR of +29.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest butanols (excluding butan-1-ol (n-butyl alcohol)) importing markets in Asia were China ($X), India ($X) and South Korea ($X), together comprising 80% of total imports. These countries were followed by Turkey, Singapore, Thailand and the United Arab Emirates, which together accounted for a further 13%.

Among the main importing countries, the United Arab Emirates, with a CAGR of +25.9%, saw the highest growth rate of the value of imports, 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 Asia stood at $X per ton in 2021, increasing by 50% against the previous year. In general, the import price, however, recorded a mild shrinkage. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was India ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (-0.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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