Asia: Aromatic Hydrocarbon Mixtures Market 2024

Aromatic Hydrocarbon Mixtures Market Size in Asia

The Asian aromatic hydrocarbon mixtures market soared to $X in 2022, growing by 24% against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Aromatic Hydrocarbon Mixtures Production in Asia

In value terms, aromatic hydrocarbon mixtures production expanded to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.5% 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 2020 when the production volume increased by 23% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Aromatic Hydrocarbon Mixtures Exports

Exports in Asia

After two years of growth, shipments abroad of naphthalene and other aromatic hydrocarbon mixtures decreased by -7.4% to X tons in 2022. In general, exports, however, continue to indicate a strong increase. The most prominent rate of growth was recorded in 2020 when exports increased by 57%. Over the period under review, the exports attained the maximum at X tons in 2021, and then shrank in the following year.

In value terms, aromatic hydrocarbon mixtures exports skyrocketed to $X in 2022. Over the period under review, exports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2021 with an increase of 35% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in the immediate term.

Exports by Country

In 2022, Yemen (X tons) was the major exporter of naphthalene and other aromatic hydrocarbon mixtures, achieving 37% of total exports. India (X tons) ranks second in terms of the total exports with a 16% share, followed by Turkey (11%), Malaysia (9.6%), Japan (6.8%), Thailand (5.5%) and South Korea (5.4%).

Exports from Yemen increased at an average annual rate of +34.1% from 2012 to 2022. At the same time, Turkey (+186.7%), India (+54.1%), Malaysia (+49.2%), Japan (+14.8%) and South Korea (+3.7%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in Asia, with a CAGR of +186.7% from 2012-2022. By contrast, Thailand (-5.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Yemen, India, Turkey, Malaysia and Japan increased by +31, +15, +11, +9.1 and +1.5 percentage points, respectively.

In value terms, Yemen ($X), India ($X) and Turkey ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 63% share of total exports.

Turkey, with a CAGR of +161.8%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries 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, picking up by 24% against the previous year. Over the period under review, the export price, however, recorded a noticeable setback. The pace of growth appeared the most rapid in 2021 an increase of 32% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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 Turkey ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+0.9%), while the other leaders experienced a decline in the export price figures.

Aromatic Hydrocarbon Mixtures Imports

Imports in Asia

Aromatic hydrocarbon mixtures imports dropped modestly to X tons in 2022, almost unchanged from 2021. Over the period under review, imports, however, showed a temperate increase. The pace of growth was the most pronounced in 2020 with an increase of 58%. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, aromatic hydrocarbon mixtures imports expanded to $X in 2022. In general, imports continue to indicate a slight downturn. The pace of growth appeared the most rapid in 2016 when imports increased by 52% against the previous year. The level of import peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China prevails in imports structure, recording X tons, which was near 69% of total imports in 2022. India (X tons) ranks second in terms of the total imports with a 5.3% share, followed by Singapore (5%) and South Korea (4.7%). The following importers - Malaysia (X tons), the United Arab Emirates (X tons) and Cyprus (X tons) - together made up 9.3% of total imports.

From 2012 to 2022, average annual rates of growth with regard to aromatic hydrocarbon mixtures imports into China stood at +1.6%. At the same time, Cyprus (+129.3%), Malaysia (+34.4%), Singapore (+23.7%), South Korea (+13.7%), India (+10.4%) and the United Arab Emirates (+8.7%) displayed positive paces of growth. Moreover, Cyprus emerged as the fastest-growing importer imported in Asia, with a CAGR of +129.3% from 2012-2022. While the share of Singapore (+4.2 p.p.), Malaysia (+4.1 p.p.), South Korea (+3 p.p.), India (+2.7 p.p.) and Cyprus (+1.9 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of China (-10.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported naphthalene and other aromatic hydrocarbon mixtures in Asia, comprising 63% of total imports. The second position in the ranking was held by India ($X), with a 7.9% share of total imports. It was followed by Singapore, with a 6.3% share.

In China, aromatic hydrocarbon mixtures imports decreased by an average annual rate of -3.5% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: India (+11.4% per year) and Singapore (+22.7% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, with an increase of 4.8% against the previous year. Over the period under review, the import price, however, saw a noticeable slump. The growth pace was the most rapid in 2021 an increase of 48% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+0.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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