Asia-Pacific: Butanone Market 2024

Butanone Market Size in Asia-Pacific

After two years of growth, the Asia-Pacific butanone market decreased by -6% to $X in 2022. Over the period under review, consumption saw a noticeable curtailment. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Butanone Production in Asia-Pacific

In value terms, butanone production contracted modestly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a perceptible contraction. The pace of growth was the most pronounced in 2018 when the production volume increased by 16% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Butanone Exports

Exports in Asia-Pacific

For the fourth consecutive year, Asia-Pacific recorded growth in shipments abroad of butanone (methyl ethyl ketone), which increased by 9.5% to X tons in 2022. Total exports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +72.1% against 2013 indices. The pace of growth was the most pronounced in 2017 when exports increased by 19%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, butanone exports surged to $X in 2022. Overall, exports enjoyed a strong increase. The pace of growth was the most pronounced in 2017 when exports increased by 47% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

In 2022, China (X tons) was the largest exporter of butanone (methyl ethyl ketone), comprising 66% of total exports. Japan (X tons) ranks second in terms of the total exports with a 24% share, followed by Taiwan (Chinese) (8%).

China was also the fastest-growing in terms of the butanone (methyl ethyl ketone) exports, with a CAGR of +9.6% from 2012 to 2022. At the same time, Japan (+2.9%) displayed positive paces of growth. Taiwan (Chinese) experienced a relatively flat trend pattern. While the share of China (+21 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Taiwan (Chinese) (-5.7 p.p.) and Japan (-6.9 p.p.) displayed negative dynamics.

In value terms, China ($X) emerged as the largest butanone supplier in Asia-Pacific, comprising 68% of total exports. The second position in the ranking was held by Japan ($X), with a 23% share of total exports.

From 2012 to 2022, the average annual growth rate of value in China stood at +11.1%. In the other countries, the average annual rates were as follows: Japan (+4.6% per year) and Taiwan (Chinese) (-4.6% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, with an increase of 30% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+1.7%), while the other leaders experienced mixed trends in the export price figures.

Butanone Imports

Imports in Asia-Pacific

After two years of growth, purchases abroad of butanone (methyl ethyl ketone) decreased by -8.8% to X tons in 2022. The total import volume increased at an average annual rate of +2.5% over the period from 2012 to 2022; 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 16% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, butanone imports expanded sharply to $X in 2022. Total imports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +51.3% against 2019 indices. The pace of growth appeared the most rapid in 2017 when imports increased by 39%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, South Korea (X tons), distantly followed by India (X tons), Vietnam (X tons), Indonesia (X tons), Thailand (X tons) and Malaysia (X tons) represented the major importers of butanone (methyl ethyl ketone), together achieving 86% of total imports. The following importers - Taiwan (Chinese) (X tons) and Singapore (X tons) - each reached a 6.7% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Vietnam (with a CAGR of +14.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), India ($X) and Vietnam ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 61% share of total imports.

Vietnam, with a CAGR of +11.3%, recorded the highest rates of growth with regard to 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-Pacific amounted to $X per ton, with an increase of 24% against the previous year. Overall, the import price recorded a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+2.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :