Asia-Pacific: Ethanal Market 2024

Ethanal Market Size in Asia-Pacific

In 2022, after four years of growth, there was significant decline in the Asia-Pacific ethanal market, when its value decreased by -8.4% to $X. The total consumption indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2021, and then reduced in the following year.

Ethanal Production in Asia-Pacific

In value terms, ethanal production dropped slightly to $X in 2022 estimated in export price. The total production indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.0% 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 -0.4% against 2019 indices. The pace of growth was the most pronounced in 2018 with an increase of 35% against the previous year. The level of production peaked at $X in 2019; afterwards, it flattened through to 2022.

Ethanal Exports

Exports in Asia-Pacific

In 2022, the amount of ethanal (acetaldehyde) exported in Asia-Pacific declined markedly to X tons, waning by -18.4% compared with 2021 figures. Over the period under review, exports, however, posted a significant increase. The growth pace was the most rapid in 2019 when exports increased by 82% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, ethanal exports declined sharply to $X in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 97%. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Taiwan (Chinese) (X tons) represented the major exporter of ethanal (acetaldehyde), making up 54% of total exports. Pakistan (X tons) took an 18% share (based on physical terms) of total exports, which put it in second place, followed by Japan (17%) and India (8%). China (X tons) took a minor share of total exports.

Exports from Taiwan (Chinese) increased at an average annual rate of +37.2% from 2012 to 2022. At the same time, Japan (+97.7%), Pakistan (+54.9%), China (+6.0%) and India (+1.0%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +97.7% from 2012-2022. While the share of Taiwan (Chinese) (+37 p.p.), Japan (+17 p.p.), Pakistan (+16 p.p.) and China (+3 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of India (-46.2 p.p.) displayed negative dynamics.

In value terms, Taiwan (Chinese) ($X), Japan ($X) and China ($X) constituted the countries with the highest levels of exports in 2022, together accounting for 72% of total exports.

Among the main exporting countries, Japan, with a CAGR of +26.9%, 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-Pacific amounted to $X per ton, which is down by -2% against the previous year. Over the period under review, the export price showed a deep downturn. The pace of growth appeared the most rapid in 2018 an increase of 17% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per ton), while Pakistan ($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 (+6.3%), while the other leaders experienced a decline in the export price figures.

Ethanal Imports

Imports in Asia-Pacific

In 2022, the amount of ethanal (acetaldehyde) imported in Asia-Pacific contracted rapidly to X tons, waning by -64.8% against the previous year. Over the period under review, imports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2013 when imports increased by 297%. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, ethanal imports soared to $X in 2022. Total imports indicated a prominent expansion from 2012 to 2022: its value 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. The growth pace was the most rapid in 2019 when imports increased by 50% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

India represented the major importer of ethanal (acetaldehyde) in Asia-Pacific, with the volume of imports reaching X tons, which was approx. 39% of total imports in 2022. Indonesia (X tons) held a 20% share (based on physical terms) of total imports, which put it in second place, followed by the Philippines (13%), Singapore (8.5%), South Korea (7.9%) and Cambodia (6.9%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by South Korea (with a CAGR of +43.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest ethanal importing markets in Asia-Pacific were Indonesia ($X), India ($X) and Singapore ($X), with a combined 64% share of total imports. The Philippines, Cambodia and South Korea lagged somewhat behind, together accounting for a further 25%.

Among the main importing countries, the Philippines, with a CAGR of +36.4%, saw the highest growth rate of 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, growing by 280% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the import price increased by 330% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+17.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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