Asia: Isocyanates Market 2024

Isocyanates Market Size in Asia

In 2022, after three years of decline, there was growth in the Asian isocyanates market, when its value increased by X% to $X. Overall, consumption, however, showed a pronounced slump. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Isocyanates Production in Asia

In value terms, isocyanates production contracted to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a perceptible descent. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Isocyanates Exports

Exports in Asia

For the third consecutive year, Asia recorded growth in overseas shipments of isocyanates, which increased by X% to X tons in 2022. The total export volume increased at an average annual rate of X% 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 2020 with an increase of X% against the previous year. The volume of export peaked in 2022 and is likely to see steady growth in the immediate term.

In value terms, isocyanates exports rose sharply to $X in 2022. Total exports indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Exports by Country

China (X tons) and South Korea (X tons) represented roughly X% of total exports in 2022. Japan (X tons) ranks next in terms of the total exports with a X% share, followed by Saudi Arabia (X%). The United Arab Emirates (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by the United Arab Emirates (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), South Korea ($X) and Japan ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined X% share of total exports. Saudi Arabia and the United Arab Emirates lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, the United Arab Emirates, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 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 Japan ($X per ton), while Saudi Arabia ($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 (X%), while the other leaders experienced mixed trends in the export price figures.

Isocyanates Imports

Imports in Asia

After three years of decline, purchases abroad of isocyanates increased by X% to X tons in 2022. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, isocyanates imports amounted to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

The purchases of the twelve major importers of isocyanates, namely Turkey, India, China, Indonesia, Vietnam, Taiwan (Chinese), the United Arab Emirates, Pakistan, Thailand, the Philippines, Japan and Malaysia, represented more than two-thirds of total import.

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 X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), China ($X) and India ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for X% of total imports. Indonesia, Vietnam, Taiwan (Chinese), Thailand, Japan, the United Arab Emirates, Pakistan, the Philippines and Malaysia lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Vietnam, with a CAGR of X%, recorded 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 2022, remaining constant against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform

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