Asia: Ethyl Acetate Market 2024

Ethyl Acetate Market Size in Asia

The Asian ethyl acetate market was finally on the rise to reach $X in 2021, after two years of decline. Overall, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Ethyl Acetate Production in Asia

In value terms, ethyl acetate production expanded slightly to $X in 2021 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 23%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Ethyl Acetate Exports

Exports in Asia

In 2021, overseas shipments of ethyl acetate were finally on the rise to reach X tons after two years of decline. The total export volume increased at an average annual rate of +1.6% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, ethyl acetate exports soared to $X in 2021. Total exports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China represented the largest exporter of ethyl acetate in Asia, with the volume of exports finishing at X tons, which was approx. 53% of total exports in 2021. Singapore (X tons) took a 14% share (based on physical terms) of total exports, which put it in second place, followed by India (13%), Saudi Arabia (11%) and Turkey (6.9%).

China experienced a relatively flat trend pattern with regard to volume of exports of ethyl acetate. At the same time, Turkey (+32.7%), Singapore (+4.7%) and Saudi Arabia (+3.1%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in Asia, with a CAGR of +32.7% from 2012-2021. By contrast, India (-3.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Turkey and Singapore increased by +6.3 and +3.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest ethyl acetate supplier in Asia, comprising 49% of total exports. The second position in the ranking was taken by India ($X), with a 15% share of total exports. It was followed by Singapore, with a 13% share.

In China, ethyl acetate exports increased at an average annual rate of +3.9% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: India (+1.1% per year) and Singapore (+7.1% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, rising by 66% against the previous year. Export price indicated moderate growth from 2012 to 2021: its price increased at an average annual rate of +3.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. 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 2021, major exporting countries recorded the following prices: in Turkey ($X per ton) and Saudi Arabia ($X per ton), while China ($X per ton) and Singapore ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+5.2%), while the other leaders experienced more modest paces of growth.

Ethyl Acetate Imports

Imports in Asia

Ethyl acetate imports expanded markedly to X tons in 2021, picking up by 10% compared with the previous year. The total import volume increased at an average annual rate of +1.2% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, ethyl acetate imports soared to $X in 2021. Total imports indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The countries with the highest levels of ethyl acetate imports in 2021 were Japan (X tons), Indonesia (X tons), Taiwan (Chinese) (X tons), Vietnam (X tons), Thailand (X tons), Bangladesh (X tons), Turkey (X tons), Malaysia (X tons), South Korea (X tons), the Philippines (X tons) and the United Arab Emirates (X tons), together resulting at 95% of total import.

From 2012 to 2021, the biggest increases were recorded for Bangladesh (with a CAGR of +21.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Indonesia ($X) and Taiwan (Chinese) ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 44% of total imports. Vietnam, Thailand, Turkey, Bangladesh, Malaysia, South Korea, the Philippines and the United Arab Emirates lagged somewhat behind, together comprising a further 50%.

In terms of the main importing countries, Bangladesh, with a CAGR of +21.1%, 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, rising by 57% against the previous year. Import price indicated moderate growth from 2012 to 2021: its price increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Turkey ($X per ton) and Japan ($X per ton), while Malaysia ($X per ton) and Vietnam ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+3.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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