Asia-Pacific: O-Acetylsalicylic Acid Market 2024

O-Acetylsalicylic Acid Market Size in Asia-Pacific

In 2021, the Asia-Pacific o-acetylsalicylic acid market decreased by -3.5% to $X, falling for the second consecutive year after two years of growth. The total consumption indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +2.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -9.5% against 2019 indices. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

O-Acetylsalicylic Acid Production in Asia-Pacific

In value terms, o-acetylsalicylic acid production rose to $X in 2021 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 16%. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

O-Acetylsalicylic Acid Exports

Exports in Asia-Pacific

In 2021, shipments abroad of o-acetylsalicylic acid, its salts and esters increased by 7.3% to X tons, rising for the second year in a row after two years of decline. Overall, exports, however, continue to indicate a mild setback. The pace of growth appeared the most rapid in 2017 with an increase of 24% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, o-acetylsalicylic acid exports amounted to $X in 2021. In general, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 8.9%. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

China was the major exporter of o-acetylsalicylic acid, its salts and esters in Asia-Pacific, with the volume of exports reaching X tons, which was near 74% of total exports in 2021. It was distantly followed by Thailand (X tons), committing a 23% share of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of o-acetylsalicylic acid, its salts and esters. Thailand (-3.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China increased by +5.5 percentage points.

In value terms, China ($X) remains the largest o-acetylsalicylic acid supplier in Asia-Pacific, comprising 70% of total exports. The second position in the ranking was taken by Thailand ($X), with a 25% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in China was relatively modest.

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2021, remaining relatively unchanged against the previous year. In general, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the export price increased by 24%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+0.1%).

O-Acetylsalicylic Acid Imports

Imports in Asia-Pacific

O-acetylsalicylic acid imports skyrocketed to X tons in 2021, rising by 18% compared with 2020. Overall, imports recorded a relatively flat trend pattern. The volume of import peaked at X tons in 2019; afterwards, it flattened through to 2021.

In value terms, o-acetylsalicylic acid imports rose remarkably to $X in 2021. Total imports indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -3.4% against 2019 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 48% against the previous year. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Pakistan (X tons), distantly followed by Indonesia (X tons), Japan (X tons), Malaysia (X tons), Thailand (X tons), Australia (X tons), Vietnam (X tons) and South Korea (X tons) represented the main importers of o-acetylsalicylic acid, its salts and esters, together comprising 86% of total imports. Democratic People's Republic of Korea (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Malaysia (with a CAGR of +16.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constitutes the largest market for imported o-acetylsalicylic acid, its salts and esters in Asia-Pacific, comprising 38% of total imports. The second position in the ranking was taken by Pakistan ($X), with an 18% share of total imports. It was followed by Indonesia, with an 11% share.

From 2012 to 2021, the average annual growth rate of value in Japan stood at +18.4%. In the other countries, the average annual rates were as follows: Pakistan (+4.8% per year) and Indonesia (-3.3% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, reducing by -4.4% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.7%. The pace of growth was the most pronounced in 2018 when the import price increased by 33% against the previous year. The level of import peaked at $X per ton in 2020, and then reduced modestly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while Democratic People's Republic of Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+4.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :