Asia-Pacific: Plant-Growth Regulators Market 2024

Plant-Growth Regulators Market Size in Asia-Pacific

In 2022, the Asia-Pacific plant-growth regulators market decreased by -2.2% to $X, falling for the second year in a row after four years of growth. The market value increased at an average annual rate of +1.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Plant-Growth Regulators Production in Asia-Pacific

In value terms, plant-growth regulators production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 14% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Plant-Growth Regulators Exports

Exports in Asia-Pacific

In 2022, overseas shipments of plant-growth regulators increased by 11% to X tons, rising for the third year in a row after two years of decline. Over the period under review, exports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 36%. The volume of export peaked in 2022 and is likely to continue growth in years to come.

In value terms, plant-growth regulators exports skyrocketed to $X in 2022. Overall, exports posted a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China represented the largest exporter of plant-growth regulators in Asia-Pacific, with the volume of exports finishing at X tons, which was near 83% of total exports in 2022. It was distantly followed by India (X tons), constituting an 11% share of total exports. Malaysia (X tons) held a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to plant-growth regulators exports from China stood at +9.9%. At the same time, India (+19.4%) and Malaysia (+9.0%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +19.4% from 2012-2022. India (+6 p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by -2.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest plant-growth regulators supplier in Asia-Pacific, comprising 72% of total exports. The second position in the ranking was taken by India ($X), with a 21% share of total exports.

From 2012 to 2022, the average annual growth rate of value in China amounted to +16.4%. In the other countries, the average annual rates were as follows: India (+26.1% per year) and Malaysia (+9.7% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, surging by 35% against the previous year. Export price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plant-growth regulators export price increased by +71.4% against 2020 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.0%), while the other leaders experienced more modest paces of growth.

Plant-Growth Regulators Imports

Imports in Asia-Pacific

In 2022, supplies from abroad of plant-growth regulators decreased by -5.2% to X tons for the first time since 2019, thus ending a two-year rising trend. Total imports indicated temperate growth from 2012 to 2022: its volume increased at an average annual rate of +4.5% 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 +36.7% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 26% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, plant-growth regulators imports soared to $X in 2022. Total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +7.5% 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 +88.4% against 2019 indices. The growth pace was the most rapid in 2021 when imports increased by 36%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Australia (X tons) was the major importer of plant-growth regulators, creating 33% of total imports. It was distantly followed by Thailand (X tons), India (X tons), Japan (X tons), Indonesia (X tons) and the Philippines (X tons), together achieving a 40% share of total imports. The following importers - Vietnam (X tons), Taiwan (Chinese) (X tons), Malaysia (X tons), Cambodia (X tons), New Zealand (X tons), Bangladesh (X tons) and China (X tons) - together made up 22% of total imports.

From 2012 to 2022, average annual rates of growth with regard to plant-growth regulators imports into Australia stood at +9.3%. At the same time, Cambodia (+36.1%), Taiwan (Chinese) (+20.8%), India (+19.5%), Bangladesh (+18.6%), Malaysia (+12.5%), New Zealand (+11.1%), the Philippines (+7.4%), Indonesia (+3.7%) and Japan (+3.4%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +36.1% from 2012-2022. By contrast, Thailand (-2.1%), China (-5.9%) and Vietnam (-8.2%) illustrated a downward trend over the same period. Australia (+12 p.p.), India (+6.2 p.p.), the Philippines (+5 p.p.), Cambodia (+2.8 p.p.), Taiwan (Chinese) (+2.6 p.p.), Bangladesh (+1.8 p.p.) and Malaysia (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while China, Vietnam and Thailand saw its share reduced by -4.5%, -11.4% and -13.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported plant-growth regulators in Asia-Pacific, comprising 33% of total imports. The second position in the ranking was taken by India ($X), with a 14% share of total imports. It was followed by Thailand, with a 13% share.

From 2012 to 2022, the average annual growth rate of value in Australia stood at +11.2%. In the other countries, the average annual rates were as follows: India (+14.4% per year) and Thailand (+2.1% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, growing by 22% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.9%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 China ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+10.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform