Asia: Sorbitol Market 2024

Sorbitol Market Size in Asia

In 2021, after two years of decline, there was significant growth in the Asian sorbitol market, when its value increased by 44% to $X. In general, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Sorbitol Production in Asia

In value terms, sorbitol production reduced to $X in 2021 estimated in export price. Overall, production, however, saw a slight contraction. The pace of growth was the most pronounced in 2018 when the production volume increased by 15% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Sorbitol Exports

Exports in Asia

After five years of growth, overseas shipments of sorbitol (excluding d-glucitol) decreased by -16.9% to X tons in 2021. Total exports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +6.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when exports increased by 31% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2020, and then contracted notably in the following year.

In value terms, sorbitol exports dropped to $X in 2021. Total exports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +69.1% against 2015 indices. The growth pace was the most rapid in 2013 with an increase of 27%. Over the period under review, the exports reached the maximum at $X in 2020, and then contracted in the following year.

Exports by Country

In 2021, Indonesia (X tons), China (X tons) and Turkey (X tons) was the key exporter of sorbitol (excluding d-glucitol) in Asia, achieving 84% of total export. It was distantly followed by Thailand (X tons), constituting a 12% share of total exports. India (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Turkey (with a CAGR of +92.3%), while the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), China ($X) and Turkey ($X) appeared to be the countries with the highest levels of exports in 2021, together comprising 80% of total exports.

Turkey, with a CAGR of +77.1%, 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 more modest paces of growth.

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, surging by 9.9% against the previous year. In general, the export price, however, saw a slight curtailment. The pace of growth appeared the most rapid in 2018 when the export price increased by 17% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Thailand ($X per ton) and China ($X per ton), while Turkey ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (-0.1%), while the other leaders experienced a decline in the export price figures.

Sorbitol Imports

Imports in Asia

In 2021, sorbitol imports in Asia rose modestly to X tons, growing by 3.3% on the year before. Total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +48.4% against 2016 indices. The pace of growth was the most pronounced in 2013 when imports increased by 24%. The volume of import peaked in 2021 and is expected to retain growth in the near future.

In value terms, sorbitol imports soared to $X in 2021. Total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +15.3% against 2018 indices. The most prominent rate of growth was recorded in 2013 with an increase of 27% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

Imports by Country

The countries with the highest levels of sorbitol imports in 2021 were Vietnam (X tons), Thailand (X tons), Bangladesh (X tons), Pakistan (X tons), South Korea (X tons) and the Philippines (X tons), together recording 74% of total import. Malaysia (X tons), Indonesia (X tons), Taiwan (Chinese) (X tons), the United Arab Emirates (X tons), Myanmar (X tons), Sri Lanka (X tons) and Japan (X tons) held a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Taiwan (Chinese) (with a CAGR of +63.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Thailand ($X) and Bangladesh ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 46% of total imports. These countries were followed by Pakistan, South Korea, the Philippines, Malaysia, Indonesia, Taiwan (Chinese), the United Arab Emirates, Myanmar, Japan and Sri Lanka, which together accounted for a further 45%.

Among the main importing countries, Taiwan (Chinese), with a CAGR of +60.7%, recorded the highest growth rate of 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 stood at $X per ton in 2021, growing by 13% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Japan ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+2.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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