Asia-Pacific: Ethyl Acetate Market 2024

Ethyl Acetate Market Size in Asia-Pacific

In 2021, after two years of decline, there was significant growth in the Asia-Pacific ethyl acetate market, when its value increased by 16% to $X. The market value increased at an average annual rate of +1.6% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. As a result, consumption reached the peak level of $X; afterwards, it flattened through to 2021.

Ethyl Acetate Production in Asia-Pacific

In value terms, ethyl acetate production expanded markedly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 26% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Ethyl Acetate Exports

Exports in Asia-Pacific

After two years of decline, shipments abroad of ethyl acetate increased by 17% to X tons in 2021. Over the period under review, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 23% against the previous year. The volume of export peaked at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, ethyl acetate exports skyrocketed to $X in 2021. Total exports indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China represented the major exporting country with an export of around X tons, which finished at 65% of total exports. It was distantly followed by Singapore (X tons) and India (X tons), together constituting a 33% share of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of ethyl acetate. At the same time, Singapore (+4.7%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +4.7% from 2012-2021. By contrast, India (-3.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Singapore and China increased by +5.2 and +2.3 percentage points, respectively.

In value terms, China ($X) remains the largest ethyl acetate supplier in Asia-Pacific, comprising 62% of total exports. The second position in the ranking was taken by India ($X), with an 18% share of total exports.

In China, ethyl acetate exports expanded at an average annual rate of +3.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: India (+1.1% per year) and Singapore (+7.1% per year).

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per ton, picking up by 65% against the previous year. Export price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was India ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+4.4%), while the other leaders experienced more modest paces of growth.

Ethyl Acetate Imports

Imports in Asia-Pacific

In 2021, ethyl acetate imports in Asia-Pacific reached X tons, increasing by 12% compared with the previous year. The total import volume increased at an average annual rate of +2.1% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, ethyl acetate imports soared to $X in 2021. Total imports indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +74.5% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Japan (X tons), Indonesia (X tons), Taiwan (Chinese) (X tons), Vietnam (X tons), Thailand (X tons), Bangladesh (X tons), Malaysia (X tons), South Korea (X tons) and the Philippines (X tons) represented the major importer of ethyl acetate in Asia-Pacific, creating 96% of total import.

From 2012 to 2021, the biggest increases were recorded for Bangladesh (with a CAGR of +21.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest ethyl acetate importing markets in Asia-Pacific were Japan ($X), Indonesia ($X) and Taiwan (Chinese) ($X), with a combined 51% share of total imports. Vietnam, Thailand, Bangladesh, Malaysia, South Korea and the Philippines lagged somewhat behind, together accounting for a further 44%.

In terms of the main importing countries, Bangladesh, with a CAGR of +21.1%, 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 2021, growing by 55% against the previous year. Import price indicated a moderate expansion from 2012 to 2021: its price increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Japan ($X per ton) and South Korea ($X per ton), while Malaysia ($X per ton) and Vietnam ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+3.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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