Asia-Pacific: Phenylacetic Acid Market 2024

Phenylacetic Acid Market Size in Asia-Pacific

The Asia-Pacific phenylacetic acid market dropped slightly to $X in 2022, flattening at the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Phenylacetic Acid Production in Asia-Pacific

In value terms, phenylacetic acid production declined modestly to $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Phenylacetic Acid Exports

Exports in Asia-Pacific

In 2022, overseas shipments of phenylacetic acid, its salts and esters increased by X% to X tons, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in years to come.

In value terms, phenylacetic acid exports totaled $X in 2022. Total exports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China represented the major exporting country with an export of about X tons, which reached X% of total exports. It was distantly followed by India (X tons), making up a X% share of total exports. Japan (X tons) followed a long way behind the leaders.

China experienced a relatively flat trend pattern with regard to volume of exports of phenylacetic acid, its salts and esters. At the same time, India (X%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2022. By contrast, Japan (X%) illustrated a downward trend over the same period. While the share of India (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Japan (X p.p.) and China (X p.p.) displayed negative dynamics.

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

From 2012 to 2022, the average annual growth rate of value in China stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: India (X% per year) and Japan (X% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2016 when the export price increased by X%. Over the period under review, the export prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was India ($X per ton), while Japan ($X per ton) was amongst the lowest.

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

Phenylacetic Acid Imports

Imports in Asia-Pacific

For the third consecutive year, Asia-Pacific recorded growth in supplies from abroad of phenylacetic acid, its salts and esters, which increased by X% to X tons in 2022. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of X%. The volume of import peaked in 2022 and is likely to see steady growth in years to come.

In value terms, phenylacetic acid imports amounted to $X in 2022. Total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, India (X tons) represented the main importer of phenylacetic acid, its salts and esters, mixing up X% of total imports. South Korea (X tons) took an X% share (based on physical terms) of total imports, which put it in second place, followed by Indonesia (X%), Japan (X%) and Malaysia (X%). Taiwan (Chinese) (X tons), Pakistan (X tons) and China (X tons) took a minor share of total imports.

India was also the fastest-growing in terms of the phenylacetic acid, its salts and esters imports, with a CAGR of X% from 2012 to 2022. At the same time, China (X%), South Korea (X%), Pakistan (X%), Malaysia (X%), Indonesia (X%) and Japan (X%) displayed positive paces of growth. By contrast, Taiwan (Chinese) (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported phenylacetic acid, its salts and esters in Asia-Pacific, comprising X% of total imports. The second position in the ranking was held by South Korea ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

In India, phenylacetic acid imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Japan (X% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, picking up by X% against the previous year. Import price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, phenylacetic acid import price decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2019 when the import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the import prices failed to regain momentum.

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 Japan ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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