Asia: Plant-Growth Regulators Market 2024

Plant-Growth Regulators Market Size in Asia

In 2022, the Asian plant-growth regulators market decreased by -3.8% to $X, falling for the second year in a row after four years of growth. In general, consumption, however, continues to indicate a relatively flat trend pattern. 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

In value terms, plant-growth regulators production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when the production volume increased by 13% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Plant-Growth Regulators Exports

Exports in Asia

In 2022, shipments abroad of plant-growth regulators increased by 11% to X tons, rising for the third consecutive year after two years of decline. Over the period under review, exports posted a resilient expansion. The pace of growth was the most pronounced in 2017 with an increase of 32%. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, plant-growth regulators exports surged to $X in 2022. Overall, exports showed buoyant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China was the main exporter of plant-growth regulators in Asia, with the volume of exports recording X tons, which was near 80% of total exports in 2022. It was distantly followed by India (X tons), creating an 11% share of total exports. The following exporters - Malaysia (X tons) and Israel (X tons) - each accounted for a 5.8% share of total exports.

Exports from China increased at an average annual rate of +9.9% from 2012 to 2022. 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, with a CAGR of +19.4% from 2012-2022. By contrast, Israel (-1.9%) illustrated a downward trend over the same period. India (+6.1 p.p.) and China (+2.2 p.p.) significantly strengthened its position in terms of the total exports, while Israel saw its share reduced by -5.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest plant-growth regulators supplier in Asia, comprising 69% of total exports. The second position in the ranking was taken by India ($X), with a 20% share of total exports. It was followed by Israel, with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +16.4%. The remaining exporting countries recorded the following average annual rates of exports growth: India (+26.1% per year) and Israel (+1.3% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, with an increase of 32% against the previous year. Export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +4.9% 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 +62.7% against 2020 indices. As a result, the export price attained the peak level 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 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

In 2022, after two years of growth, there was decline in purchases abroad of plant-growth regulators, when their volume decreased by -4.1% to X tons. The total import volume increased at an average annual rate of +2.9% 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 with an increase of 26% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, plant-growth regulators imports reached $X in 2022. Total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +6.0% 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 +45.5% against 2019 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 30%. 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, Thailand (X tons), distantly followed by India (X tons), Japan (X tons), Indonesia (X tons), the Philippines (X tons), Vietnam (X tons) and Kazakhstan (X tons) represented the major importers of plant-growth regulators, together achieving 64% of total imports. The following importers - Taiwan (Chinese) (X tons), Malaysia (X tons), Cambodia (X tons), Bangladesh (X tons), China (X tons) and Turkey (X tons) - together made up 23% of total imports.

From 2012 to 2022, the biggest increases were recorded for Cambodia (with a CAGR of +36.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Thailand ($X) and Japan ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 42% of total imports. Kazakhstan, Indonesia, Vietnam, China, Turkey, the Philippines, Malaysia, Taiwan (Chinese), Cambodia and Bangladesh lagged somewhat behind, together accounting for a further 45%.

Cambodia, with a CAGR of +38.4%, saw the highest growth rate of the value of imports, among the main importing countries 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 stood at $X per ton in 2022, growing by 16% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.1%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: 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