Asia: Monophenols Market 2024

Monophenols Market Size in Asia

After four years of growth, the Asian monophenols market decreased by -3.3% to $X in 2021. The market value increased at an average annual rate of +2.9% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The level of consumption peaked at $X in 2020, and then dropped in the following year.

Monophenols Production in Asia

In value terms, monophenols production shrank modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.7% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2013 when the production volume increased by 20% against the previous year. The level of production peaked at $X in 2020, and then contracted slightly in the following year.

Monophenols Exports

Exports in Asia

In 2021, the amount of monophenols exported in Asia totaled X tons, growing by 5.1% on 2020 figures. The total export volume increased at an average annual rate of +2.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 36% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, monophenols exports surged to $X in 2021. Overall, exports, however, recorded a relatively flat trend pattern. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The shipments of the five major exporters of monophenols, namely South Korea, China, Thailand, Taiwan (Chinese) and Singapore, represented more than two-thirds of total export. Japan (X tons) held a 5.8% share (based on physical terms) of total exports, which put it in second place, followed by India (5.6%).

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

In value terms, the largest monophenols supplying countries in Asia were China ($X), South Korea ($X) and Taiwan (Chinese) ($X), together comprising 58% of total exports.

Among the main exporting countries, China, with a CAGR of +9.9%, saw 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 2021, increasing by 36% against the previous year. Over the period under review, the export price, however, saw a noticeable slump. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+0.1%), while the other leaders experienced a decline in the export price figures.

Monophenols Imports

Imports in Asia

In 2021, approx. X tons of monophenols were imported in Asia; with an increase of 3.2% against the previous year. The total import volume increased at an average annual rate of +1.4% 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 2018 with an increase of 24%. The volume of import peaked in 2021 and is likely to continue growth in years to come.

In value terms, monophenols imports soared to $X in 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 46% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China represented the largest importing country with an import of around X tons, which amounted to 37% of total imports. It was distantly followed by India (X tons), Taiwan (Chinese) (X tons), Japan (X tons) and South Korea (X tons), together mixing up a 48% share of total imports. Turkey (X tons) and Thailand (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Taiwan (Chinese) (with a CAGR of +27.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest monophenols importing markets in Asia were China ($X), India ($X) and Taiwan (Chinese) ($X), with a combined 66% share of total imports.

Taiwan (Chinese), with a CAGR of +18.3%, recorded the highest growth rate of the value of imports, in terms of 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 2021, the import price in Asia amounted to $X per ton, growing by 41% against the previous year. Overall, the import price, however, saw a perceptible shrinkage. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in South Korea ($X per ton) and India ($X per ton), while China ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+0.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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