Asia-Pacific: Octyl Alcohol Market 2024

Octyl Alcohol Market Size in Asia-Pacific

In 2022, the Asia-Pacific octyl alcohol market decreased by -2.2% to $X, falling for the third year in a row after eight years of growth. The total consumption 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, consumption decreased by -5.8% against 2019 indices. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Octyl Alcohol Production in Asia-Pacific

In value terms, octyl alcohol production reduced to $X in 2022 estimated in export price. The total production indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.4% 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 -0.0% against 2019 indices. The growth pace was the most rapid in 2017 with an increase of 20%. The level of production peaked at $X in 2019; afterwards, it flattened through to 2022.

Octyl Alcohol Exports

Exports in Asia-Pacific

In 2022, exports of octanol (octyl alcohol) and isomers thereof in Asia-Pacific fell to X tons, reducing by -14.8% against the previous year. Over the period under review, exports saw a mild curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by 25%. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, octyl alcohol exports dropped markedly to $X in 2022. Overall, exports continue to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 97% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Indonesia (X tons), South Korea (X tons), China (X tons) and Taiwan (Chinese) (X tons) represented the major exporter of octanol (octyl alcohol) and isomers thereof in Asia-Pacific, mixing up 80% of total export. It was distantly followed by Malaysia (X tons) and Japan (X tons), together making up a 15% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by China (with a CAGR of +26.2%), while the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), South Korea ($X) and China ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 67% share of total exports.

China, with a CAGR of +24.8%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries 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 2022, which is down by -2.8% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 57%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+1.4%), while the other leaders experienced a decline in the export price figures.

Octyl Alcohol Imports

Imports in Asia-Pacific

Octyl alcohol imports shrank notably to X tons in 2022, dropping by -26.2% against the previous year. Overall, imports recorded a deep slump. The pace of growth was the most pronounced in 2021 when imports increased by 8.5%. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, octyl alcohol imports dropped rapidly to $X in 2022. Over the period under review, imports showed a perceptible setback. The most prominent rate of growth was recorded in 2021 when imports increased by 70% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

China was the largest importing country with an import of about X tons, which resulted at 43% of total imports. India (X tons) held the second position in the ranking, followed by Vietnam (X tons), South Korea (X tons) and Pakistan (X tons). All these countries together took approx. 38% share of total imports. The following importers - Thailand (X tons) and Singapore (X tons) - each recorded an 8.3% share of total imports.

Imports into China decreased at an average annual rate of -7.9% from 2012 to 2022. At the same time, Singapore (+16.5%), Vietnam (+3.8%), Pakistan (+3.0%) and Thailand (+1.4%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +16.5% from 2012-2022. By contrast, South Korea (-2.6%) and India (-3.8%) illustrated a downward trend over the same period. While the share of Vietnam (+5.8 p.p.), Pakistan (+4.6 p.p.), Singapore (+3.4 p.p.), Thailand (+2.1 p.p.) and South Korea (+2.1 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of China (-15.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported octanol (octyl alcohol) and isomers thereof in Asia-Pacific, comprising 40% of total imports. The second position in the ranking was taken by India ($X), with an 11% share of total imports. It was followed by South Korea, with a 10% share.

From 2012 to 2022, the average annual growth rate of value in China stood at -8.4%. In the other countries, the average annual rates were as follows: India (-3.5% per year) and South Korea (-2.0% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, dropping by -5.2% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 56%. As a result, import price reached the peak level of $X per ton, and then shrank in the following year.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Singapore ($X per ton) and India ($X per ton), while Thailand ($X per ton) and Vietnam ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+1.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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