Asia-Pacific: Cyclic Hydrocarbons Market 2024

Cyclic Hydrocarbons Market Size in Asia-Pacific

For the third consecutive year, the Asia-Pacific cyclic hydrocarbons market recorded decline in sales value, which decreased by -1.5% to $X in 2021. The market value increased at an average annual rate of +2.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Cyclic Hydrocarbons Production in Asia-Pacific

In value terms, cyclic hydrocarbons production amounted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.3% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2013 with an increase of 23% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2021, production stood at a somewhat lower figure.

Cyclic Hydrocarbons Exports

Exports in Asia-Pacific

In 2021, shipments abroad of other cyclic hydrocarbons increased by 30% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when exports increased by 44%. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, cyclic hydrocarbons exports soared to $X in 2021. Over the period under review, exports, however, showed a relatively flat trend pattern. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

China was the key exporter of other cyclic hydrocarbons in Asia-Pacific, with the volume of exports amounting to X tons, which was approx. 40% of total exports in 2021. It was distantly followed by India (X tons), Japan (X tons), Taiwan (Chinese) (X tons), Malaysia (X tons) and South Korea (X tons), together mixing up a 57% share of total exports.

Exports from China increased at an average annual rate of +14.6% from 2012 to 2021. At the same time, Malaysia (+38.7%) and India (+6.1%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +38.7% from 2012-2021. By contrast, Japan (-4.8%), South Korea (-6.5%) and Taiwan (Chinese) (-13.0%) illustrated a downward trend over the same period. While the share of China (+28 p.p.), Malaysia (+7.5 p.p.) and India (+6.8 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of South Korea (-6.4 p.p.), Japan (-9.5 p.p.) and Taiwan (Chinese) (-26.5 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest cyclic hydrocarbons supplier in Asia-Pacific, comprising 54% of total exports. The second position in the ranking was taken by India ($X), with a 19% share of total exports. It was followed by Japan, with a 15% share.

In China, cyclic hydrocarbons exports increased at an average annual rate of +4.6% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: India (+3.9% per year) and Japan (-4.0% per year).

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per ton, surging by 5% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the export price increased by 11% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the export prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was China ($X per ton), while Malaysia ($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 (+0.8%), while the other leaders experienced a decline in the export price figures.

Cyclic Hydrocarbons Imports

Imports in Asia-Pacific

In 2021, purchases abroad of other cyclic hydrocarbons was finally on the rise to reach X tons after two years of decline. Overall, imports recorded prominent growth. The pace of growth was the most pronounced in 2015 with an increase of 40% against the previous year. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, cyclic hydrocarbons imports surged to $X in 2021. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 39%. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Afghanistan (X tons) was the largest importer of other cyclic hydrocarbons, mixing up 59% of total imports. India (X tons) held the second position in the ranking, distantly followed by China (X tons). All these countries together took approx. 24% share of total imports. South Korea (X tons), Japan (X tons), Thailand (X tons) and Indonesia (X tons) followed a long way behind the leaders.

Afghanistan was also the fastest-growing in terms of the other cyclic hydrocarbons imports, with a CAGR of +32.1% from 2012 to 2021. At the same time, India (+6.7%) and Thailand (+2.6%) displayed positive paces of growth. By contrast, Japan (-1.4%), Indonesia (-1.8%), South Korea (-4.3%) and China (-5.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Afghanistan increased by +50 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest cyclic hydrocarbons importing markets in Asia-Pacific were Afghanistan ($X), India ($X) and South Korea ($X), with a combined 57% share of total imports.

Afghanistan, with a CAGR of +32.2%, 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 mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per ton, picking up by 1.8% against the previous year. Overall, the import price, however, saw a abrupt decline. The pace of growth appeared the most rapid in 2018 when the import price increased by 24%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Afghanistan (+0.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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