Asia: Market for Reaction Initiators, Reaction Accelerators And Catalytic Preparations 2024

Market Size for Reaction Initiators, Reaction Accelerators And Catalytic Preparations in Asia

The Asian reaction initiators and accelerators market expanded to $X in 2022, rising by 3.6% against the previous year. Over the period under review, consumption continues to indicate a strong expansion. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Reaction Initiators, Reaction Accelerators And Catalytic Preparations in Asia

In value terms, reaction initiators and accelerators production stood at $X in 2022 estimated in export price. Over the period under review, production continues to indicate a prominent expansion. The most prominent rate of growth was recorded in 2016 when the production volume increased by 47%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Reaction Initiators, Reaction Accelerators And Catalytic Preparations

Exports in Asia

In 2022, reaction initiators and accelerators exports in Asia rose remarkably to X tons, picking up by 5.8% against the previous year's figure. The total export volume increased at an average annual rate of +4.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when exports increased by 23% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, reaction initiators and accelerators exports reduced to $X in 2022. In general, exports continue to indicate a strong increase. The pace of growth was the most pronounced in 2021 when exports increased by 35% against the previous year. As a result, the exports reached the peak of $X, and then fell in the following year.

Exports by Country

China represented the main exporter of reaction initiators, reaction accelerators and catalytic preparations in Asia, with the volume of exports recording X tons, which was approx. 44% of total exports in 2022. Japan (X tons) took the second position in the ranking, followed by Singapore (X tons), South Korea (X tons), India (X tons) and Saudi Arabia (X tons). All these countries together held near 44% share of total exports. Thailand (X tons) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +6.4% from 2012 to 2022. At the same time, Singapore (+12.9%), South Korea (+8.3%), Thailand (+7.2%) and India (+5.7%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in Asia, with a CAGR of +12.9% from 2012-2022. By contrast, Japan (-1.8%) and Saudi Arabia (-2.2%) illustrated a downward trend over the same period. China (+7.6 p.p.), Singapore (+5.8 p.p.) and South Korea (+2.7 p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia and Japan saw its share reduced by -4.4% and -10.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X), China ($X) and Thailand ($X) constituted the countries with the highest levels of exports in 2022, with a combined 71% share of total exports.

Thailand, with a CAGR of +30.3%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, dropping by -12.8% against the previous year. Export price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, reaction initiators and accelerators export price increased by +44.4% against 2018 indices. The growth pace was the most rapid in 2021 when the export price increased by 21% against the previous year. As a result, the export price attained the peak level of $X per ton, and then fell in the following year.

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 Thailand ($X per ton), while Saudi Arabia ($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 (+21.5%), while the other leaders experienced more modest paces of growth.

Imports of Reaction Initiators, Reaction Accelerators And Catalytic Preparations

Imports in Asia

Reaction initiators and accelerators imports shrank to X tons in 2022, waning by -6.1% on 2021. Total imports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of +3.7% 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 +8.7% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of 16% against the previous year. The volume of import peaked at X tons in 2021, and then declined in the following year.

In value terms, reaction initiators and accelerators imports declined to $X in 2022. Total imports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +4.4% 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 +95.3% against 2016 indices. The growth pace was the most rapid in 2021 with an increase of 29% against the previous year. As a result, imports reached the peak of $X, and then contracted in the following year.

Imports by Country

In 2022, South Korea (X tons), followed by China (X tons), India (X tons), Indonesia (X tons), Taiwan (Chinese) (X tons) and Thailand (X tons) were the major importers of reaction initiators, reaction accelerators and catalytic preparations, together constituting 62% of total imports. Malaysia (X tons), Japan (X tons), Singapore (X tons), Oman (X tons), the United Arab Emirates (X tons), Vietnam (X tons) and Kazakhstan (X tons) took a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Kazakhstan (with a CAGR of +25.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest reaction initiators and accelerators importing markets in Asia were China ($X), Thailand ($X) and South Korea ($X), together accounting for 52% of total imports. Japan, India, Taiwan (Chinese), Singapore, the United Arab Emirates, Indonesia, Malaysia, Vietnam, Oman and Kazakhstan lagged somewhat behind, together comprising a further 34%.

Vietnam, with a CAGR of +16.0%, recorded the highest growth rate of the value of imports, in terms of 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

In 2022, the import price in Asia amounted to $X per ton, approximately mirroring the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the import price increased by 16% against the previous year. The level of import peaked at $X per ton in 2021, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Thailand ($X per ton), while Indonesia ($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 (+7.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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