Asia: O-Acetylsalicylic Acid Market 2024

O-Acetylsalicylic Acid Market Size in Asia

In 2021, the Asian o-acetylsalicylic acid market decreased by -0.8% to $X, falling for the second consecutive year after two years of growth. The market value increased at an average annual rate of +2.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

O-Acetylsalicylic Acid Production in Asia

In value terms, o-acetylsalicylic acid production rose modestly to $X in 2021 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 16%. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

O-Acetylsalicylic Acid Exports

Exports in Asia

In 2021, shipments abroad of o-acetylsalicylic acid, its salts and esters increased by 7.2% to X tons, rising for the second consecutive year after two years of decline. In general, exports, however, recorded a slight slump. The pace of growth appeared the most rapid in 2017 with an increase of 24% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, o-acetylsalicylic acid exports totaled $X in 2021. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when exports increased by 8.9%. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, China (X tons) was the major exporter of o-acetylsalicylic acid, its salts and esters, making up 74% of total exports. It was distantly followed by Thailand (X tons), mixing up a 23% share of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of o-acetylsalicylic acid, its salts and esters. Thailand (-3.9%) illustrated a downward trend over the same period. While the share of China (+5.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Thailand (-6.5 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest o-acetylsalicylic acid supplier in Asia, comprising 70% of total exports. The second position in the ranking was taken by Thailand ($X), with a 25% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in China was relatively modest.

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, flattening at the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the export price increased by 24% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while China totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+0.1%).

O-Acetylsalicylic Acid Imports

Imports in Asia

After two years of decline, overseas purchases of o-acetylsalicylic acid, its salts and esters increased by 21% to X tons in 2021. The total import volume increased at an average annual rate of +1.0% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, o-acetylsalicylic acid imports surged to $X in 2021. Total imports indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +3.9% 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 +62.3% against 2015 indices. The pace of growth was the most pronounced in 2018 when imports increased by 34%. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the near future.

Imports by Country

The purchases of the four major importers of o-acetylsalicylic acid, its salts and esters, namely Pakistan, Turkey, Indonesia and Japan, represented more than half of total import. Malaysia (X tons) held the next position in the ranking, followed by Iran (X tons). All these countries together took near 12% share of total imports. Israel (X tons), Thailand (X tons), Vietnam (X tons), South Korea (X tons), Democratic People's Republic of Korea (X tons), Taiwan (Chinese) (X tons) and Bangladesh (X tons) held a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Malaysia (with a CAGR of +16.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Turkey ($X) and Pakistan ($X) constituted the countries with the highest levels of imports in 2021, with a combined 59% share of total imports. These countries were followed by Indonesia, Malaysia, Israel, Thailand, South Korea, Vietnam, Taiwan (Chinese), Bangladesh, Iran and Democratic People's Republic of Korea, which together accounted for a further 32%.

Among the main importing countries, Malaysia, with a CAGR of +18.7%, 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

In 2021, the import price in Asia amounted to $X per ton, dropping by -3.1% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.8%. The pace of growth appeared the most rapid in 2018 when the import price increased by 23% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2020, and then fell in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bangladesh (+6.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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