Asia-Pacific: Modified Starches Market 2024

Modified Starches Market Size in Asia-Pacific

The Asia-Pacific modified starches market expanded modestly to $X in 2022, picking up by 3.8% against the previous year. The market value increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

Modified Starches Production in Asia-Pacific

In value terms, modified starches production expanded to $X in 2022 estimated in export price. In general, production, however, saw a mild expansion. The most prominent rate of growth was recorded in 2018 with an increase of 21%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Modified Starches Exports

Exports in Asia-Pacific

For the third year in a row, Asia-Pacific recorded growth in overseas shipments of dextrins and other modified starches, which increased by 0.7% to X tons in 2022. The total export volume increased at an average annual rate of +3.2% 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 with an increase of 16% against the previous year. The volume of export peaked in 2022 and is likely to see gradual growth in the immediate term.

In value terms, modified starches exports expanded remarkably to $X in 2022. Total exports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.0% 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 +69.8% against 2016 indices. The pace of growth was the most pronounced in 2018 with an increase of 19% 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

Thailand dominates exports structure, resulting at X tons, which was near 72% of total exports in 2022. It was distantly followed by Vietnam (X tons), China (X tons) and India (X tons), together committing a 23% share of total exports. Australia (X tons) followed a long way behind the leaders.

Exports from Thailand increased at an average annual rate of +2.8% from 2012 to 2022. At the same time, Vietnam (+7.5%), India (+7.3%), Australia (+5.4%) and China (+1.6%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +7.5% from 2012-2022. While the share of Vietnam (+3.3 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Thailand (-2.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest modified starches supplier in Asia-Pacific, comprising 65% of total exports. The second position in the ranking was held by China ($X), with a 14% share of total exports. It was followed by Vietnam, with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Thailand totaled +4.2%. In the other countries, the average annual rates were as follows: China (+8.4% per year) and Vietnam (+7.9% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, surging by 14% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. The pace of growth was the most pronounced in 2019 when the export price increased by 20%. As a result, the export price attained the peak level of $X per ton. From 2020 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 China ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.7%), while the other leaders experienced more modest paces of growth.

Modified Starches Imports

Imports in Asia-Pacific

In 2022, the amount of dextrins and other modified starches imported in Asia-Pacific expanded significantly to X tons, with an increase of 6.2% against 2021. The total import volume increased at an average annual rate of +3.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 11%. The volume of import peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, modified starches imports rose significantly to $X in 2022. Total imports indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +4.3% 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 +59.5% against 2015 indices. The pace of growth was the most pronounced in 2018 when imports increased by 18%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

In 2022, China (X tons) and Japan (X tons) represented the largest importers of dextrins and other modified starches in Asia-Pacific, together comprising 56% of total imports. Indonesia (X tons) held the next position in the ranking, followed by South Korea (X tons). All these countries together held approx. 21% share of total imports. Vietnam (X tons), Taiwan (Chinese) (X tons), Australia (X tons), the Philippines (X tons), India (X tons) and Malaysia (X tons) held a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +13.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and Indonesia ($X) were the countries with the highest levels of imports in 2022, together comprising 66% of total imports. South Korea, Australia, India, Vietnam, the Philippines, Taiwan (Chinese) and Malaysia lagged somewhat behind, together comprising a further 27%.

Vietnam, with a CAGR of +10.7%, recorded the highest rates of growth with regard to the value of imports, in terms of 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, picking up by 7.5% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. As a result, import price attained 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 India ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+3.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :