Asia: Octyl Alcohol Market 2024

Octyl Alcohol Market Size in Asia

The Asian octyl alcohol market fell slightly to $X in 2022, stabilizing at the previous year. The total consumption indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -1.0% against 2019 indices. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Octyl Alcohol Production in Asia

In value terms, octyl alcohol production stood at $X in 2022 estimated in export price. The total production indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.6% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 18% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Octyl Alcohol Exports

Exports in Asia

In 2022, approx. X tons of octanol (octyl alcohol) and isomers thereof were exported in Asia; which is down by -11.7% on the previous year's figure. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 20% against the previous year. As a result, the exports attained the peak of X tons, and then declined in the following year.

In value terms, octyl alcohol exports declined to $X in 2022. Over the period under review, exports continue to indicate a slight decline. The growth pace was the most rapid in 2021 with an increase of 58%. As a result, the exports attained the peak of $X, and then reduced in the following year.

Exports by Country

In 2022, Saudi Arabia (X tons), distantly followed by Indonesia (X tons), South Korea (X tons), China (X tons), Taiwan (Chinese) (X tons) and Malaysia (X tons) represented the largest exporters of octanol (octyl alcohol) and isomers thereof, together constituting 93% of total exports. Japan (X tons) took a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +26.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), Indonesia ($X) and South Korea ($X) were the countries with the highest levels of exports in 2022, together comprising 65% of total exports. China, Taiwan (Chinese), Malaysia and Japan lagged somewhat behind, together accounting for a further 30%.

Among the main exporting countries, China, with a CAGR of +24.8%, 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

In 2022, the export price in Asia amounted to $X per ton, remaining stable against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the export price increased by 31%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+1.4%), while the other leaders experienced a decline in the export price figures.

Octyl Alcohol Imports

Imports in Asia

In 2022, the amount of octanol (octyl alcohol) and isomers thereof imported in Asia fell dramatically to X tons, shrinking by -17.7% compared with 2021 figures. Overall, imports saw a perceptible decline. The most prominent rate of growth was recorded in 2021 with an increase of 17%. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, octyl alcohol imports declined significantly to $X in 2022. In general, imports recorded a pronounced contraction. The growth pace was the most rapid in 2021 with an increase of 82%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Turkey (X tons) and China (X tons) were the main importers of octanol (octyl alcohol) and isomers thereof in 2022, amounting to near 33% and 29% of total imports, respectively. India (X tons) took the next position in the ranking, followed by Vietnam (X tons), South Korea (X tons) and Pakistan (X tons). All these countries together took near 25% share of total imports. The following importers - Thailand (X tons) and Singapore (X tons) - each accounted for a 5.6% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Singapore (with a CAGR of +16.5%), 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, with a combined 68% share of total imports. South Korea, Vietnam, Pakistan, Singapore and Thailand lagged somewhat behind, together comprising a further 24%.

Singapore, with a CAGR of +17.9%, recorded the highest growth rate of the value of imports, among 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 2022, the import price in Asia amounted to $X per ton, flattening at the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 55% against the previous year. As a result, import price attained the peak level of $X per ton, and then shrank slightly in the following year.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Singapore ($X per ton) and India ($X per ton), while Thailand ($X per ton) and Vietnam ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+1.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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