Asia: Phenylacetic Acid Market 2024

Phenylacetic Acid Market Size in Asia

The Asian phenylacetic acid market dropped to $X in 2022, reducing by X% against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Phenylacetic Acid Production in Asia

In value terms, phenylacetic acid production dropped slightly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Phenylacetic Acid Exports

Exports in Asia

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% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. The volume of export peaked in 2022 and is likely to see steady growth in the immediate term.

In value terms, phenylacetic acid exports expanded significantly to $X in 2022. Total exports indicated a measured expansion 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%. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

China represented the major exporter of phenylacetic acid, its salts and esters in Asia, with the volume of exports resulting at X tons, which was near X% of total exports in 2022. It was distantly followed by India (X tons), mixing 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, with a CAGR of X% from 2012-2022. By contrast, Japan (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India increased by X percentage points.

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

In China, phenylacetic acid exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (X% per year) and Japan (X% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, growing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2016 an increase of X%. Over the period under review, the export prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

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 ($X per ton), while Japan ($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

For the third year in a row, Asia recorded growth in purchases 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% 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 2016 with an increase of X%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, phenylacetic acid imports expanded sharply to $X in 2022. Total imports indicated a remarkable 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. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, India (X tons) represented the main importer of phenylacetic acid, its salts and esters, comprising X% of total imports. South Korea (X tons) took the second position in the ranking, followed by Indonesia (X tons), Japan (X tons) and Malaysia (X tons). All these countries together held approx. X% share of total imports. Taiwan (Chinese) (X tons), Pakistan (X tons), China (X tons), Singapore (X tons), Turkey (X tons) and Thailand (X tons) held a relatively small 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%), Singapore (X%), Pakistan (X%), Malaysia (X%), Indonesia (X%), Japan (X%) and Turkey (X%) displayed positive paces of growth. By contrast, Thailand (X%) and Taiwan (Chinese) (X%) illustrated a downward trend over the same period. India (X p.p.) and South Korea (X p.p.) significantly strengthened its position in terms of the total imports, while Indonesia, Japan, Thailand and Taiwan (Chinese) saw its share reduced by X%, X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual rate of growth in terms of value in India stood at X%. 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

The import price in Asia stood at $X per ton in 2022, surging 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 pace of growth appeared the most rapid in 2019 when the import price increased by X% against the previous year. 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 Turkey ($X per ton), while Malaysia ($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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