Asia-Pacific: Butan-1-Ol (N-Butyl Alcohol) Market 2024

Butan-1-Ol (N-Butyl Alcohol) Market Size in Asia-Pacific

In 2022, the Asia-Pacific butan-1-ol (n-butyl alcohol) market decreased by -11.1% to $X for the first time since 2015, thus ending a six-year rising trend. The total consumption indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +55.1% against 2015 indices. Over the period under review, the market attained the peak level at $X in 2021, and then dropped in the following year.

Butan-1-Ol (N-Butyl Alcohol) Production in Asia-Pacific

In value terms, butan-1-ol (n-butyl alcohol) production rose modestly to $X in 2022 estimated in export price. The total production indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +62.6% against 2016 indices. The most prominent rate of growth was recorded in 2014 with an increase of 25% against the previous year. The level of production peaked in 2022 and is likely to see gradual growth in years to come.

Butan-1-Ol (N-Butyl Alcohol) Exports

Exports in Asia-Pacific

In 2022, butan-1-ol (n-butyl alcohol) exports in Asia-Pacific expanded to X tons, increasing by 3.9% on the year before. In general, exports, however, showed a mild reduction. The most prominent rate of growth was recorded in 2019 with an increase of 11% against the previous year. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, butan-1-ol (n-butyl alcohol) exports declined notably to $X in 2022. Overall, exports, however, saw a noticeable decline. The growth pace was the most rapid in 2021 when exports increased by 89% against the previous year. As a result, the exports reached the peak of $X, and then shrank sharply in the following year.

Exports by Country

Taiwan (Chinese) (X tons) and Malaysia (X tons) dominates exports structure, together mixing up 84% of total exports. China (X tons) held an 8.6% share (based on physical terms) of total exports, which put it in second place, followed by the Philippines (5%).

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +29.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X), Malaysia ($X) and China ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 92% share of total exports.

China, with a CAGR of +28.1%, saw the highest growth rate of the value of exports, in terms of 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

In 2022, the export price in Asia-Pacific amounted to $X per ton, reducing by -27% against the previous year. In general, the export price showed a slight setback. The pace of growth appeared the most rapid in 2021 an increase of 100%. As a result, the export price reached the peak level of $X per ton, and then dropped markedly in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in China ($X per ton) and Malaysia ($X per ton), while Taiwan (Chinese) ($X per ton) and the Philippines ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+0.1%), while the other leaders experienced a decline in the export price figures.

Butan-1-Ol (N-Butyl Alcohol) Imports

Imports in Asia-Pacific

Butan-1-ol (n-butyl alcohol) imports reduced dramatically to X tons in 2022, shrinking by -17.9% on the previous year's figure. Overall, imports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2016 with an increase of 26% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, butan-1-ol (n-butyl alcohol) imports shrank rapidly to $X in 2022. Over the period under review, imports recorded a deep reduction. The most prominent rate of growth was recorded in 2021 with an increase of 69% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China was the main importing country with an import of around X tons, which accounted for 46% of total imports. South Korea (X tons) held the second position in the ranking, followed by India (X tons), Singapore (X tons) and Indonesia (X tons). All these countries together held approx. 42% share of total imports. The following importers - Thailand (X tons) and Taiwan (Chinese) (X tons) - each resulted at an 8.3% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to butan-1-ol (n-butyl alcohol) imports into China stood at -10.4%. At the same time, Thailand (+5.2%) and Taiwan (Chinese) (+2.3%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +5.2% from 2012-2022. India and South Korea experienced a relatively flat trend pattern. By contrast, Singapore (-2.8%) and Indonesia (-3.0%) illustrated a downward trend over the same period. While the share of South Korea (+6.6 p.p.), India (+5.4 p.p.), Thailand (+3 p.p.), Singapore (+2.9 p.p.), Taiwan (Chinese) (+2.4 p.p.) and Indonesia (+2.4 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of China (-24.2 p.p.) displayed negative dynamics.

In value terms, China ($X) constitutes the largest market for imported butan-1-ol (n-butyl alcohol) in Asia-Pacific, comprising 43% of total imports. The second position in the ranking was taken by South Korea ($X), with a 15% share of total imports. It was followed by Indonesia, with a 12% share.

In China, butan-1-ol (n-butyl alcohol) imports decreased by an average annual rate of -11.6% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (-1.7% per year) and Indonesia (+0.8% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, picking up by 2.4% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by 65%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, 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 (+3.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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