Asia: Other Chemical Products Market 2024

Other Chemical Products Market Size in Asia

The Asian other chemical products market was estimated at $X in 2022, therefore, remained relatively stable against the previous year. Over the period under review, consumption saw a slight descent. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Other Chemical Products Production in Asia

In value terms, other chemical products production stood at $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 12%. 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.

Other Chemical Products Exports

Exports in Asia

In 2022, overseas shipments of other chemical products increased by 4.4% to X tons, rising for the second consecutive year after six years of decline. Overall, exports, however, faced a precipitous contraction. The pace of growth was the most pronounced in 2013 with an increase of 15%. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, other chemical products exports expanded to $X in 2022. In general, exports, however, faced a sharp slump. The growth pace was the most rapid in 2013 when exports increased by 11% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

South Korea dominates exports structure, finishing at X tons, which was near 58% of total exports in 2022. It was distantly followed by Israel (X tons), the United Arab Emirates (X tons) and Vietnam (X tons), together constituting a 20% share of total exports. The following exporters - Indonesia (X tons), Saudi Arabia (X tons), Taiwan (Chinese) (X tons), Pakistan (X tons), Malaysia (X tons), Democratic People's Republic of Korea (X tons) and Singapore (X tons) - together made up 19% of total exports.

From 2012 to 2022, average annual rates of growth with regard to other chemical products exports from South Korea stood at -17.5%. Pakistan experienced a relatively flat trend pattern. Democratic People's Republic of Korea (-1.9%), the United Arab Emirates (-13.9%), Saudi Arabia (-21.7%), Indonesia (-27.5%), Vietnam (-31.4%), Taiwan (Chinese) (-33.7%), Singapore (-33.8%), Israel (-34.1%) and Malaysia (-42.2%) illustrated a downward trend over the same period. South Korea (+51 p.p.), the United Arab Emirates (+5 p.p.), Saudi Arabia (+2.8 p.p.), Pakistan (+2.3 p.p.), Indonesia (+2.1 p.p.) and Democratic People's Republic of Korea (+1.9 p.p.) significantly strengthened its position in terms of the total exports, while Israel and Malaysia saw its share reduced by -1.6% and -6.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Israel ($X), Saudi Arabia ($X) and South Korea ($X) were the countries with the highest levels of exports in 2022, with a combined 65% share of total exports. The United Arab Emirates, Democratic People's Republic of Korea, Indonesia, Malaysia, Singapore, Taiwan (Chinese), Pakistan and Vietnam lagged somewhat behind, together comprising a further 29%.

Democratic People's Republic of Korea, with a CAGR of +14.6%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, reducing by -2.3% against the previous year. Over the period under review, the export price continues to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2018 when the export price increased by 24% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the export prices remained at a lower figure.

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 Saudi Arabia ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+29.6%), while the other leaders experienced more modest paces of growth.

Other Chemical Products Imports

Imports in Asia

In 2022, the amount of other chemical products imported in Asia dropped modestly to X tons, remaining constant against 2021. Over the period under review, imports saw a abrupt decrease. The pace of growth was the most pronounced in 2016 with an increase of 4.8% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, other chemical products imports fell to $X in 2022. In general, imports saw a deep reduction. The pace of growth was the most pronounced in 2016 when imports increased by 3%. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Taiwan (Chinese) (X tons), distantly followed by Vietnam (X tons), Singapore (X tons) and Saudi Arabia (X tons) were the main importers of other chemical products, together committing 70% of total imports. Oman (X tons), Iraq (X tons), Lebanon (X tons), Indonesia (X tons), Israel (X tons), Kazakhstan (X tons) and the United Arab Emirates (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Lebanon (with a CAGR of +12.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X) constitutes the largest market for imported other chemical products in Asia, comprising 43% of total imports. The second position in the ranking was held by Vietnam ($X), with a 19% share of total imports. It was followed by Singapore, with an 11% share.

From 2012 to 2022, the average annual growth rate of value in Taiwan (Chinese) was relatively modest. In the other countries, the average annual rates were as follows: Vietnam (+9.2% per year) and Singapore (+3.6% per year).

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, standing approx. at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The growth pace was the most rapid in 2017 an increase of 17%. The level of import peaked at $X per ton in 2020; afterwards, it flattened through to 2022.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kazakhstan ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+7.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :