Asia: Butanone Market 2024

Butanone Market Size in Asia

In 2022, after two years of growth, there was decline in the Asian butanone market, when its value decreased by -4.9% to $X. Over the period under review, consumption continues to indicate a pronounced shrinkage. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Butanone Production in Asia

In value terms, butanone production contracted modestly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a perceptible decline. The growth pace was the most rapid in 2018 with an increase of 16% against the previous year. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Butanone Exports

Exports in Asia

For the fourth consecutive year, Asia recorded growth in shipments abroad of butanone (methyl ethyl ketone), which increased by 9.6% to X tons in 2022. Total exports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +5.5% 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 +72.1% against 2013 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 20% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, butanone exports soared to $X in 2022. Total exports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.2% 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 +73.9% against 2020 indices. The pace of growth appeared the most rapid in 2017 with an increase of 48%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in years to come.

Exports by Country

China was the main exporter of butanone (methyl ethyl ketone) in Asia, with the volume of exports resulting at X tons, which was approx. 66% of total exports in 2022. It was distantly followed by Japan (X tons) and Taiwan (Chinese) (X tons), together mixing up a 32% share of total exports.

China was also the fastest-growing in terms of the butanone (methyl ethyl ketone) exports, with a CAGR of +9.6% from 2012 to 2022. At the same time, Japan (+2.9%) displayed positive paces of growth. Taiwan (Chinese) experienced a relatively flat trend pattern. China (+21 p.p.) significantly strengthened its position in terms of the total exports, while Taiwan (Chinese) and Japan saw its share reduced by -5.7% and -6.9% from 2012 to 2022, respectively.

In value terms, China ($X) emerged as the largest butanone supplier in Asia, comprising 68% of total exports. The second position in the ranking was held by Japan ($X), with a 23% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +11.1%. In the other countries, the average annual rates were as follows: Japan (+4.6% per year) and Taiwan (Chinese) (-4.6% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, increasing by 30% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+1.7%), while the other leaders experienced mixed trends in the export price figures.

Butanone Imports

Imports in Asia

In 2022, supplies from abroad of butanone (methyl ethyl ketone) decreased by -7.9% to X tons for the first time since 2019, thus ending a two-year rising trend. The total import volume increased at an average annual rate of +2.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when imports increased by 15% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, butanone imports expanded markedly to $X in 2022. Total imports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +3.0% 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 +52.2% against 2019 indices. The pace of growth was the most pronounced in 2017 when imports increased by 39% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

In 2022, South Korea (X tons), distantly followed by India (X tons), Vietnam (X tons), Indonesia (X tons), Thailand (X tons) and Malaysia (X tons) were the key importers of butanone (methyl ethyl ketone), together achieving 84% of total imports. The following importers - Taiwan (Chinese) (X tons) and Singapore (X tons) - each reached a 6.5% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Vietnam (with a CAGR of +14.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), India ($X) and Vietnam ($X) were the countries with the highest levels of imports in 2022, together accounting for 59% of total imports.

In terms of the main importing countries, Vietnam, with a CAGR of +11.3%, saw the highest rates of growth with regard to 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

In 2022, the import price in Asia amounted to $X per ton, with an increase of 24% against the previous year. Overall, the import price showed a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Thailand ($X per ton), while Malaysia ($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 (+2.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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