Asia-Pacific: Maleic Anhydride Market 2024

Maleic Anhydride Market Size in Asia-Pacific

The Asia-Pacific maleic anhydride market contracted to $X in 2021, dropping by -7.7% against the previous year. Over the period under review, consumption recorded a noticeable reduction. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Maleic Anhydride Production in Asia-Pacific

In value terms, maleic anhydride production rose slightly to $X in 2021 estimated in export price. Over the period under review, production recorded a perceptible shrinkage. The pace of growth was the most pronounced in 2017 when the production volume increased by 14% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Maleic Anhydride Exports

Exports in Asia-Pacific

In 2021, maleic anhydride exports in Asia-Pacific skyrocketed to X tons, growing by 54% against the previous year. In general, exports recorded resilient growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, maleic anhydride exports skyrocketed to $X in 2021. Overall, exports recorded a remarkable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China was the largest exporter of maleic anhydride in Asia-Pacific, with the volume of exports reaching X tons, which was near 46% of total exports in 2021. It was distantly followed by Taiwan (Chinese) (X tons), South Korea (X tons) and Malaysia (X tons), together making up a 52% share of total exports. Indonesia (X tons) took a minor share of total exports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +12.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest maleic anhydride supplying countries in Asia-Pacific were China ($X), Taiwan (Chinese) ($X) and South Korea ($X), with a combined 85% share of total exports.

In terms of the main exporting countries, China, with a CAGR of +11.6%, recorded the highest rates of growth with regard to 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

The export price in Asia-Pacific stood at $X per ton in 2021, with an increase of 70% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+0.5%), while the other leaders experienced more modest paces of growth.

Maleic Anhydride Imports

Imports in Asia-Pacific

In 2021, the amount of maleic anhydride imported in Asia-Pacific skyrocketed to X tons, growing by 33% compared with the year before. Total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +8.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, maleic anhydride imports soared to $X in 2021. In general, imports continue to indicate a remarkable increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

India represented the largest importer of maleic anhydride in Asia-Pacific, with the volume of imports reaching X tons, which was approx. 56% of total imports in 2021. It was distantly followed by Singapore (X tons), Japan (X tons) and Malaysia (X tons), together making up a 24% share of total imports. Australia (X tons), Thailand (X tons), South Korea (X tons), Indonesia (X tons), Vietnam (X tons) and Pakistan (X tons) held a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to maleic anhydride imports into India stood at +8.5%. At the same time, Pakistan (+22.7%), Japan (+21.3%), South Korea (+21.2%), Vietnam (+17.4%), Malaysia (+8.6%), Indonesia (+7.4%), Singapore (+7.3%) and Australia (+4.4%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +22.7% from 2012-2021. By contrast, Thailand (-2.4%) illustrated a downward trend over the same period. While the share of Japan (+4 p.p.), South Korea (+1.8 p.p.) and Pakistan (+1.7 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Australia (-1.7 p.p.) and Thailand (-5.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported maleic anhydride in Asia-Pacific, comprising 57% of total imports. The second position in the ranking was held by Singapore ($X), with an 11% share of total imports. It was followed by Japan, with a 6.9% share.

In India, maleic anhydride imports expanded at an average annual rate of +8.7% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Singapore (+6.1% per year) and Japan (+19.9% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, surging by 72% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+0.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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