Asia: Modified Starches Market 2024

Modified Starches Market Size in Asia

The Asian modified starches market rose sharply to $X in 2022, with an increase of 5.5% against the previous year. The market value increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2022 and is expected to retain growth in the immediate term.

Modified Starches Production in Asia

In value terms, modified starches production rose to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by 21%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Modified Starches Exports

Exports in Asia

In 2022, modified starches exports in Asia stood at X tons, standing approx. at the year before. The total export volume increased at an average annual rate of +3.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 17%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in years to come.

In value terms, modified starches exports expanded notably to $X in 2022. Total exports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.2% 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 +74.1% against 2016 indices. The most prominent rate of growth was recorded in 2018 when exports increased by 19% against the previous year. The level of export peaked in 2022 and is likely to continue growth in years to come.

Exports by Country

Thailand prevails in exports structure, resulting at X tons, which was approx. 70% of total exports in 2022. Vietnam (X tons) ranks second in terms of the total exports with a 9.7% share, followed by China (8.2%). The following exporters - India (X tons) and Turkey (X tons) - each reached an 8.5% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to modified starches exports from Thailand stood at +2.8%. At the same time, Turkey (+32.5%), Vietnam (+7.5%), India (+7.3%) and China (+1.6%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in Asia, with a CAGR of +32.5% from 2012-2022. From 2012 to 2022, the share of Turkey and Vietnam increased by +3.7 and +3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest modified starches supplier in Asia, comprising 65% of total exports. The second position in the ranking was taken by China ($X), with a 14% share of total exports. It was followed by Vietnam, with a 6.8% share.

In Thailand, modified starches exports increased at an average annual rate of +4.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (+8.4% per year) and Vietnam (+7.9% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, growing by 13% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The growth pace was the most rapid in 2019 an increase of 20%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.7%), while the other leaders experienced more modest paces of growth.

Modified Starches Imports

Imports in Asia

In 2022, imports of dextrins and other modified starches in Asia expanded modestly to X tons, growing by 3.9% against the year before. The total import volume increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 9.7% against the previous year. The volume of import peaked in 2022 and is likely to continue growth in the near future.

In value terms, modified starches imports rose significantly to $X in 2022. The total import value increased at an average annual rate of +3.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 16%. The level of import peaked in 2022 and is likely to see steady growth in years to come.

Imports by Country

China (X tons) and Japan (X tons) represented the major importers of dextrins and other modified starches in 2022, amounting to near 30% and 23% of total imports, respectively. Indonesia (X tons) ranks next in terms of the total imports with a 12% share, followed by South Korea (7.5%). The following importers - Turkey (X tons), Vietnam (X tons), Taiwan (Chinese) (X tons), the Philippines (X tons), India (X tons) and Malaysia (X tons) - together made up 19% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Vietnam (with a CAGR of +13.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and Indonesia ($X) constituted the countries with the highest levels of imports in 2022, with a combined 62% share of total imports. South Korea, Turkey, India, Vietnam, the Philippines, Taiwan (Chinese) and Malaysia lagged somewhat behind, together comprising a further 26%.

Vietnam, with a CAGR of +10.7%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries 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, picking up by 8.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. As a result, import price reached 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 India ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+4.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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