Asia-Pacific: Polyphenols And Phenol-Alcohols Market 2024

Polyphenols And Phenol-Alcohols Market Size in Asia-Pacific

The Asia-Pacific polyphenols and phenol-alcohols market surged to $X in 2022, with an increase of 81% against the previous year. Overall, consumption enjoyed a buoyant expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Polyphenols And Phenol-Alcohols Production in Asia-Pacific

In value terms, polyphenols and phenol-alcohols production contracted to $X in 2022 estimated in export price. Over the period under review, production recorded a prominent expansion. The pace of growth was the most pronounced in 2018 with an increase of 35%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Polyphenols And Phenol-Alcohols Exports

Exports in Asia-Pacific

In 2022, polyphenols and phenol-alcohols exports in Asia-Pacific declined to X tons, which is down by -6% compared with the year before. Total exports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +3.3% against 2020 indices. The pace of growth appeared the most rapid in 2017 when exports increased by 35% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, polyphenols and phenol-alcohols exports reached $X in 2022. Total exports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +15.3% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of 33% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

Japan represented the major exporter of polyphenols and phenol-alcohols in Asia-Pacific, with the volume of exports reaching X tons, which was approx. 50% of total exports in 2022. China (X tons) took a 22% share (based on physical terms) of total exports, which put it in second place, followed by India (20%). South Korea (X tons) and Taiwan (Chinese) (X tons) took a relatively small share of total exports.

Japan experienced a relatively flat trend pattern with regard to volume of exports of polyphenols and phenol-alcohols. At the same time, China (+10.9%), India (+10.1%) and South Korea (+2.5%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +10.9% from 2012-2022. By contrast, Taiwan (Chinese) (-5.5%) illustrated a downward trend over the same period. While the share of China (+11 p.p.) and India (+9.1 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Taiwan (Chinese) (-4.7 p.p.) and Japan (-14.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X), China ($X) and India ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 92% share of total exports.

In terms of the main exporting countries, China, with a CAGR of +11.1%, recorded the highest rates of growth with regard to the value of exports, 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, growing by 8.2% against the previous year. Over the last decade, it increased at an average annual rate of +2.7%. The pace of growth appeared the most rapid in 2018 when the export price increased by 23% against the previous year. Over the period under review, the export prices attained the peak figure in 2022 and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+3.1%), while the other leaders experienced more modest paces of growth.

Polyphenols And Phenol-Alcohols Imports

Imports in Asia-Pacific

In 2022, approx. X tons of polyphenols and phenol-alcohols were imported in Asia-Pacific; with a decrease of -4.1% compared with the previous year's figure. The total import volume increased at an average annual rate of +1.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 when imports increased by 28%. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, polyphenols and phenol-alcohols imports expanded sharply to $X in 2022. Total imports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +3.9% 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 +75.1% against 2016 indices. The pace of growth appeared the most rapid in 2018 with an increase of 27% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

China was the key importer of polyphenols and phenol-alcohols in Asia-Pacific, with the volume of imports resulting at X tons, which was near 40% of total imports in 2022. India (X tons) ranks second in terms of the total imports with a 23% share, followed by South Korea (15%) and Japan (9.7%). The following importers - Indonesia (X tons), Taiwan (Chinese) (X tons) and Thailand (X tons) - together made up 7.8% of total imports.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +8.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest polyphenols and phenol-alcohols importing markets in Asia-Pacific were China ($X), India ($X) and South Korea ($X), with a combined 70% share of total imports. Japan, Indonesia, Taiwan (Chinese) and Thailand lagged somewhat behind, together accounting for a further 24%.

Among the main importing countries, Indonesia, with a CAGR of +11.1%, recorded the highest rates of growth with regard to the value of imports, 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 2022, with an increase of 9.7% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The pace of growth appeared the most rapid in 2018 an increase of 20%. Over the period under review, import prices reached the peak figure in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+5.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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