Asia: Azo- Or Azoxy-Compounds Market 2024

Azo- Or Azoxy-Compounds Market Size in Asia

In 2022, the Asian azo- or azoxy-compounds market increased by 1.9% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Azo- Or Azoxy-Compounds Production in Asia

In value terms, azo- or azoxy-compounds production reduced slightly to $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 18% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Azo- Or Azoxy-Compounds Exports

Exports in Asia

In 2022, exports of diazo-, azo- or azoxy-compounds in Asia fell to X tons, waning by -6.5% against 2021. The total export volume increased at an average annual rate of +3.4% 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 with an increase of 20% against the previous year. As a result, the exports attained the peak of X tons, and then dropped in the following year.

In value terms, azo- or azoxy-compounds exports shrank to $X in 2022. The total export value increased at an average annual rate of +2.1% 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 exports increased by 40%. As a result, the exports reached the peak of $X, and then shrank in the following year.

Exports by Country

China was the largest exporter of diazo-, azo- or azoxy-compounds in Asia, with the volume of exports reaching X tons, which was near 68% of total exports in 2022. Indonesia (X tons) ranks second in terms of the total exports with a 15% share, followed by South Korea (8.1%) and India (5.3%). Thailand (X tons) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to azo- or azoxy-compounds exports from China stood at +4.1%. At the same time, India (+12.3%) and South Korea (+5.9%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia, with a CAGR of +12.3% from 2012-2022. Indonesia experienced a relatively flat trend pattern. By contrast, Thailand (-3.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, India and South Korea increased by +4.6, +3 and +1.7 percentage points, respectively.

In value terms, China ($X) remains the largest azo- or azoxy-compounds supplier in Asia, comprising 42% of total exports. The second position in the ranking was taken by India ($X), with a 20% share of total exports. It was followed by South Korea, with a 14% share.

In China, azo- or azoxy-compounds exports remained relatively stable over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: India (+22.6% per year) and South Korea (+3.3% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, approximately reflecting the previous year. Over the period under review, the export price saw a mild shrinkage. The most prominent rate of growth was recorded in 2021 an increase of 17%. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+9.2%), while the other leaders experienced a decline in the export price figures.

Azo- Or Azoxy-Compounds Imports

Imports in Asia

In 2022, the amount of diazo-, azo- or azoxy-compounds imported in Asia dropped to X tons, waning by -6.6% on the year before. The total import volume increased at an average annual rate of +3.0% over the period 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 with an increase of 23% against the previous year. As a result, imports attained the peak of X tons, and then reduced in the following year.

In value terms, azo- or azoxy-compounds imports expanded to $X in 2022. The total import value increased at an average annual rate of +3.5% over the period 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 when imports increased by 32%. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, South Korea (X tons), distantly followed by India (X tons), Japan (X tons), Thailand (X tons), Vietnam (X tons), Taiwan (Chinese) (X tons), Turkey (X tons) and Indonesia (X tons) were the main importers of diazo-, azo- or azoxy-compounds, together committing 85% 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 India (with a CAGR of +13.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest azo- or azoxy-compounds importing markets in Asia were South Korea ($X), India ($X) and Taiwan (Chinese) ($X), together accounting for 47% of total imports.

Among the main importing countries, India, with a CAGR of +16.3%, 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

The import price in Asia stood at $X per ton in 2022, rising by 9.9% against the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the import price increased by 14%. Over the period under review, import prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+5.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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