Asia-Pacific: Azo- Or Azoxy-Compounds Market 2024

Azo- Or Azoxy-Compounds Market Size in Asia-Pacific

In 2022, the Asia-Pacific azo- or azoxy-compounds market increased by 1.6% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Azo- Or Azoxy-Compounds Production in Asia-Pacific

In value terms, azo- or azoxy-compounds production contracted slightly to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 19% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Azo- Or Azoxy-Compounds Exports

Exports in Asia-Pacific

In 2022, azo- or azoxy-compounds exports in Asia-Pacific shrank to X tons, declining by -6.5% against 2021 figures. The total export volume increased at an average annual rate of +3.4% 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 2021 with an increase of 20%. As a result, the exports attained the peak of X tons, and then fell in the following year.

In value terms, azo- or azoxy-compounds exports contracted to $X in 2022. The total export value increased at an average annual rate of +2.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when exports increased by 40% against the previous year. As a result, the exports attained the peak of $X, and then dropped in the following year.

Exports by Country

China represented the largest exporting country with an export of around X tons, which reached 68% of total exports. Indonesia (X tons) took a 15% share (based on physical terms) of total exports, which put it in second place, followed by South Korea (8.2%) and India (5.3%). Thailand (X tons) took a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to azo- or azoxy-compounds exports from China stood at +4.1%. At the same time, India (+12.3%) and South Korea (+5.9%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +12.3% from 2012-2022. Indonesia experienced a relatively flat trend pattern. By contrast, Thailand (-3.2%) illustrated a downward trend over the same period. China (+4.7 p.p.), India (+3 p.p.) and South Korea (+1.8 p.p.) significantly strengthened its position in terms of the total exports, while Thailand and Indonesia saw its share reduced by -1.8% and -6.7% from 2012 to 2022, respectively.

In value terms, China ($X) remains the largest azo- or azoxy-compounds supplier in Asia-Pacific, comprising 41% of total exports. The second position in the ranking was taken by India ($X), with a 19% share of total exports. It was followed by South Korea, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China was relatively modest. In the other countries, the average annual rates were as follows: India (+22.6% per year) and South Korea (+3.3% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, remaining constant against the previous year. Overall, the export price recorded a mild downturn. The most prominent rate of growth was recorded in 2021 an increase of 17%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+9.2%), while the other leaders experienced a decline in the export price figures.

Azo- Or Azoxy-Compounds Imports

Imports in Asia-Pacific

In 2022, imports of diazo-, azo- or azoxy-compounds in Asia-Pacific contracted to X tons, waning by -7.6% compared with 2021 figures. The total import volume increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 26% against the previous year. As a result, imports attained the peak of X tons, and then dropped in the following year.

In value terms, azo- or azoxy-compounds imports totaled $X in 2022. The total import value increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 31%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

In 2022, South Korea (X tons), distantly followed by India (X tons), Japan (X tons), Thailand (X tons), Vietnam (X tons), Taiwan (Chinese) (X tons) and Indonesia (X tons) were the main importers of diazo-, azo- or azoxy-compounds, together comprising 89% of total imports. China (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by India (with a CAGR of +13.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest azo- or azoxy-compounds importing markets in Asia-Pacific were South Korea ($X), India ($X) and Taiwan (Chinese) ($X), with a combined 52% share of total imports.

Among the main importing countries, India, with a CAGR of +16.3%, saw the highest rates of growth with regard to 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

The import price in Asia-Pacific stood at $X per ton in 2022, picking up by 9.4% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 15% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Indonesia ($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 (+6.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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