Asia-Pacific: Aromatic Hydrocarbon Mixtures Market 2024

Aromatic Hydrocarbon Mixtures Market Size in Asia-Pacific

The Asia-Pacific aromatic hydrocarbon mixtures market soared to $X in 2022, with an increase of 31% against the previous year. Overall, consumption, however, saw a relatively flat trend pattern. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Aromatic Hydrocarbon Mixtures Production in Asia-Pacific

In value terms, aromatic hydrocarbon mixtures production expanded modestly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a mild slump. The growth pace was the most rapid in 2017 when the production volume increased by 25%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Aromatic Hydrocarbon Mixtures Exports

Exports in Asia-Pacific

In 2022, after two years of growth, there was significant decline in overseas shipments of naphthalene and other aromatic hydrocarbon mixtures, when their volume decreased by -23.3% to X tons. Overall, exports, however, recorded buoyant growth. The pace of growth appeared the most rapid in 2020 with an increase of 85%. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, aromatic hydrocarbon mixtures exports stood at $X in 2022. Total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.9% 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 +99.3% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 52% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in the near future.

Exports by Country

In 2022, India (X tons), distantly followed by Malaysia (X tons), Japan (X tons), Thailand (X tons) and South Korea (X tons) were the major exporters of naphthalene and other aromatic hydrocarbon mixtures, together constituting 89% of total exports. The following exporters - Taiwan (Chinese) (X tons) and Singapore (X tons) - together made up 5.4% of total exports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +54.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, India ($X) emerged as the largest aromatic hydrocarbon mixtures supplier in Asia-Pacific, comprising 39% of total exports. The second position in the ranking was held by Japan ($X), with a 13% share of total exports. It was followed by Malaysia, with a 12% share.

In India, aromatic hydrocarbon mixtures exports increased at an average annual rate of +55.5% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (+13.6% per year) and Malaysia (+44.3% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, with an increase of 36% against the previous year. Overall, the export price, however, recorded a mild slump. The most prominent rate of growth was recorded in 2021 an increase of 51%. The level of export peaked at $X per ton in 2012; however, from 2013 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 India ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+1.2%), while the other leaders experienced mixed trends in the export price figures.

Aromatic Hydrocarbon Mixtures Imports

Imports in Asia-Pacific

In 2022, approx. X tons of naphthalene and other aromatic hydrocarbon mixtures were imported in Asia-Pacific; increasing by 6.3% on the year before. In general, imports recorded a pronounced expansion. The pace of growth was the most pronounced in 2020 with an increase of 62% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, aromatic hydrocarbon mixtures imports rose notably to $X in 2022. Over the period under review, imports, however, showed a mild decline. The pace of growth was the most pronounced in 2016 with an increase of 52% against the previous year. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

China dominates imports structure, accounting for X tons, which was near 74% of total imports in 2022. It was distantly followed by India (X tons), Singapore (X tons), South Korea (X tons) and Malaysia (X tons), together comprising a 21% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to aromatic hydrocarbon mixtures imports into China stood at +1.6%. At the same time, Malaysia (+34.4%), Singapore (+23.7%), South Korea (+13.7%) and India (+10.4%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +34.4% from 2012-2022. While the share of Singapore (+4.6 p.p.), Malaysia (+4.4 p.p.), South Korea (+3.2 p.p.) and India (+2.9 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of China (-10 p.p.) displayed negative dynamics.

In value terms, China ($X) constitutes the largest market for imported naphthalene and other aromatic hydrocarbon mixtures in Asia-Pacific, comprising 69% of total imports. The second position in the ranking was held by India ($X), with an 8.6% share of total imports. It was followed by Singapore, with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to -3.5%. The remaining importing countries recorded the following average annual rates of imports growth: India (+11.4% per year) and Singapore (+22.7% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, increasing by 4.4% against the previous year. Overall, the import price, however, showed a noticeable setback. The most prominent rate of growth was recorded in 2021 an increase of 50% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while Malaysia ($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 (+0.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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