Asia: Ketone And Quinone Market 2024

Ketone And Quinone Market Size in Asia

In 2021, the Asian ketone and quinone market increased by 8.2% to $X, rising for the second year in a row after two years of decline. In general, consumption saw a relatively flat trend pattern. The level of consumption peaked at $X in 2013; afterwards, it flattened through to 2021.

Ketone And Quinone Production in Asia

In value terms, ketone and quinone production dropped modestly to $X in 2021 estimated in export price. Over the period under review, production faced a deep slump. The most prominent rate of growth was recorded in 2013 with an increase of 58%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Ketone And Quinone Exports

Exports in Asia

In 2021, approx. X tons of ketones and quinones were exported in Asia; increasing by 15% against the previous year. Total exports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +19.0% against 2019 indices. The pace of growth appeared the most rapid in 2017 with an increase of 29%. The volume of export peaked in 2021 and is likely to see gradual growth in the near future.

In value terms, ketone and quinone exports soared to $X in 2021. Total exports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +23.5% against 2018 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, China (X tons), Taiwan (Chinese) (X tons), South Korea (X tons), Japan (X tons), Saudi Arabia (X tons), Thailand (X tons) and Singapore (X tons) was the major exporter of ketones and quinones in Asia, comprising 95% of total export.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Saudi Arabia (with a CAGR of +15.2%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest ketone and quinone supplier in Asia, comprising 44% of total exports. The second position in the ranking was held by Japan ($X), with a 9.9% share of total exports. It was followed by Taiwan (Chinese), with an 8.2% share.

In China, ketone and quinone exports increased at an average annual rate of +6.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Japan (+3.0% per year) and Taiwan (Chinese) (-4.2% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, picking up by 17% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was China ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+0.9%), while the other leaders experienced mixed trends in the export price figures.

Ketone And Quinone Imports

Imports in Asia

Ketone and quinone imports surged to X tons in 2021, with an increase of 19% compared with the previous year. Total imports indicated a perceptible expansion from 2012 to 2021: its volume increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +88.0% against 2016 indices. The pace of growth was the most pronounced in 2017 with an increase of 26% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in years to come.

In value terms, ketone and quinone imports surged to $X in 2021. The total import value increased at an average annual rate of +1.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 with an increase of 29%. The level of import peaked in 2021 and is expected to retain growth in the near future.

Imports by Country

China represented the largest importing country with an import of around X tons, which recorded 51% of total imports. India (X tons) took a 12% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (8.2%) and Thailand (5%). Japan (X tons), Vietnam (X tons), Turkey (X tons), Indonesia (X tons), Singapore (X tons) and Malaysia (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to ketone and quinone imports into China stood at +4.9%. At the same time, Vietnam (+13.5%), Turkey (+6.9%), Malaysia (+5.2%), South Korea (+4.8%), Singapore (+4.7%), India (+4.0%), Japan (+1.7%) and Indonesia (+1.3%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in Asia, with a CAGR of +13.5% from 2012-2021. Thailand experienced a relatively flat trend pattern. While the share of China (+2.7 p.p.) and Vietnam (+1.9 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Thailand (-2.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), India ($X) and South Korea ($X) were the countries with the highest levels of imports in 2021, together comprising 58% of total imports. Japan, Thailand, Singapore, Indonesia, Turkey, Vietnam and Malaysia lagged somewhat behind, together accounting for a further 32%.

Among the main importing countries, Vietnam, with a CAGR of +10.1%, 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 2021, the import price in Asia amounted to $X per ton, surging by 6.1% against the previous year. In general, the import price, however, recorded a noticeable descent. The growth pace was the most rapid in 2013 when the import price increased by 9% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Japan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+0.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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