China: Aromatic Alcohols Market 2024

Aromatic Alcohols Market Size in China

The Chinese aromatic alcohols market amounted to $X in 2021, approximately equating the previous year. The market value increased at an average annual rate of +3.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Aromatic Alcohols Production in China

In value terms, aromatic alcohols production dropped to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2016 when the production volume increased by 20% against the previous year. Over the period under review, production reached the peak level at $X in 2020, and then contracted slightly in the following year.

Aromatic Alcohols Exports

Exports from China

In 2021, approx. X tons of aromatic alcohols and their derivatives were exported from China; shrinking by -6.3% compared with the year before. Over the period under review, total exports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +7.1% 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 +65.1% against 2016 indices. The most prominent rate of growth was recorded in 2018 when exports increased by 36%. The exports peaked at X tons in 2020, and then contracted in the following year.

In value terms, aromatic alcohols exports rose significantly to $X in 2021. Overall, total exports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +9.3% 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 +79.8% against 2016 indices. The growth pace was the most rapid in 2018 when exports increased by 32% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the near future.

Exports by Country

Japan (X tons), India (X tons) and South Korea (X tons) were the main destinations of aromatic alcohols exports from China, together comprising 27% of total exports. These countries were followed by Singapore, the Netherlands, Mexico, the UK, Spain, Indonesia, Switzerland, the United States, Germany and Russia, which together accounted for a further 42%.

From 2012 to 2021, the biggest increases were recorded for Switzerland (with a CAGR of +30.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, India ($X) remains the key foreign market for aromatic alcohols and their derivatives exports from China, comprising 32% of total exports. The second position in the ranking was taken by Japan ($X), with an 11% share of total exports. It was followed by the UK, with an 8.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to India totaled +24.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+8.2% per year) and the UK (-1.2% per year).

Export Prices by Country

The average aromatic alcohols export price stood at $X per ton in 2021, growing by 20% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.0%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (+12.8%), while the prices for the other major destinations experienced more modest paces of growth.

Aromatic Alcohols Imports

Imports into China

Aromatic alcohols imports into China soared to X tons in 2021, with an increase of 16% against the previous year. In general, total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +8.1% 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 +79.7% against 2016 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 33% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, aromatic alcohols imports reached $X in 2021. Over the period under review, imports recorded a strong increase. The most prominent rate of growth was recorded in 2016 when imports increased by 19% 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

In 2021, Japan (X tons) constituted the largest aromatic alcohols supplier to China, with a 61% share of total imports. Moreover, aromatic alcohols imports from Japan exceeded the figures recorded by the second-largest supplier, India (X tons), threefold. Germany (X tons) ranked third in terms of total imports with a 7.5% share.

From 2012 to 2021, the average annual growth rate of volume from Japan stood at +16.7%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+0.9% per year) and Germany (+45.9% per year).

In value terms, Japan ($X) constituted the largest supplier of aromatic alcohols and their derivatives to China, comprising 60% of total imports. The second position in the ranking was taken by India ($X), with a 19% share of total imports. It was followed by Germany, with a 6.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Japan stood at +18.7%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+8.1% per year) and Germany (+23.8% per year).

Import Prices by Country

In 2021, the average aromatic alcohols import price amounted to $X per ton, waning by -2% against the previous year. In general, the import price, however, continues to indicate a modest increase. The growth pace was the most rapid in 2016 when the average import price increased by 42% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+7.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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