Asia-Pacific: Aromatic Monoamines Market 2024

Aromatic Monoamines Market Size in Asia-Pacific

In 2021, the Asia-Pacific aromatic monoamines market increased by 3.2% to $X, rising for the fifth consecutive year after four years of decline. Overall, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2012; afterwards, it flattened through to 2021.

Aromatic Monoamines Production in Asia-Pacific

In value terms, aromatic monoamines production reduced slightly to $X in 2021 estimated in export price. Over the period under review, production, however, showed a deep slump. The pace of growth was the most pronounced in 2020 when the production volume increased by 6.7%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Aromatic Monoamines Exports

Exports in Asia-Pacific

In 2021, overseas shipments of other aromatic monoamines and their derivatives, salts thereof increased by 14% to X tons, rising for the second year in a row after two years of decline. In general, exports, however, saw a abrupt decline. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, aromatic monoamines exports soared to $X in 2021. The total export value increased at an average annual rate of +1.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 17% against the previous year. The level of export peaked in 2021 and is expected to retain growth in years to come.

Exports by Country

In 2021, China (X tons) represented the key exporter of other aromatic monoamines and their derivatives, salts thereof, generating 82% of total exports. It was distantly followed by India (X tons) and South Korea (X tons), together constituting an 18% share of total exports.

China was also the fastest-growing in terms of the other aromatic monoamines and their derivatives, salts thereof exports, with a CAGR of +4.5% from 2012 to 2021. At the same time, India (+3.4%) displayed positive paces of growth. By contrast, South Korea (-2.2%) illustrated a downward trend over the same period. China (+56 p.p.), India (+8.1 p.p.) and South Korea (+2.2 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest aromatic monoamines supplier in Asia-Pacific, comprising 69% of total exports. The second position in the ranking was held by India ($X), with a 19% share of total exports.

In China, aromatic monoamines exports expanded at an average annual rate of +5.1% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: India (+9.9% per year) and South Korea (-0.7% per year).

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per ton, approximately equating the previous year. Export price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +10.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, aromatic monoamines export price increased by +31.5% against 2017 indices. The pace of growth appeared the most rapid in 2013 when the export price increased by 100% against the previous year. Over the period under review, the export prices hit record highs in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was India ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+6.3%), while the other leaders experienced more modest paces of growth.

Aromatic Monoamines Imports

Imports in Asia-Pacific

In 2021, overseas purchases of other aromatic monoamines and their derivatives, salts thereof increased by 23% to X tons, rising for the fifth year in a row after two years of decline. Total imports indicated perceptible growth from 2012 to 2021: its volume increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +64.8% against 2016 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, aromatic monoamines imports expanded rapidly to $X in 2021. The total import value increased at an average annual rate of +3.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 20% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the immediate term.

Imports by Country

South Korea (X tons) and India (X tons) represented the largest importers of other aromatic monoamines and their derivatives, salts thereof in 2021, accounting for approx. 28% and 27% of total imports, respectively. China (X tons) took a 12% share (based on physical terms) of total imports, which put it in second place, followed by Australia (10%), Japan (7.1%), Singapore (6.4%) and Taiwan (Chinese) (4.8%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Singapore (with a CAGR of +17.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), India ($X) and China ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 64% of total imports. Japan, Australia, Singapore and Taiwan (Chinese) lagged somewhat behind, together comprising a further 32%.

Singapore, with a CAGR of +22.0%, recorded the highest growth rate of the value of imports, in terms of the main importing countries 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, declining by -13.9% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the import price increased by 23%. As a result, import price attained the peak level of $X per ton. From 2016 to 2021, the import prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Japan ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+8.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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