China: Cyclohexane Market 2024

Cyclohexane Market Size in China

After two years of decline, the Chinese cyclohexane market increased by 0.4% to $X in 2021. Over the period under review, consumption saw a noticeable decline. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Cyclohexane Production in China

In value terms, cyclohexane production rose slightly to $X in 2021 estimated in export price. Over the period under review, production, however, showed a perceptible setback. The pace of growth appeared the most rapid in 2013 with an increase of 12%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Cyclohexane Exports

Exports from China

Cyclohexane exports from China surged to X tons in 2021, increasing by 492% compared with the year before. In general, exports continue to indicate a significant increase. The growth pace was the most rapid in 2017 when exports increased by 2,923%. Over the period under review, the exports reached the maximum in 2021 and are likely to see steady growth in years to come.

In value terms, cyclohexane exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate significant growth. The pace of growth was the most pronounced in 2017 with an increase of 3,169% against the previous year. The exports peaked in 2021 and are likely to see steady growth in years to come.

Exports by Country

South Korea (X tons) was the main destination for cyclohexane exports from China, accounting for a 72% share of total exports. Moreover, cyclohexane exports to South Korea exceeded the volume sent to the second major destination, Japan (X tons), fourfold. The third position in this ranking was held by Malaysia (X tons), with a 4% share.

From 2012 to 2021, the average annual growth rate of volume to South Korea amounted to +51.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+1,160.7% per year) and Malaysia (+44.0% per year).

In value terms, South Korea ($X) remains the key foreign market for cyclohexane exports from China, comprising 70% of total exports. The second position in the ranking was taken by Japan ($X), with a 17% share of total exports. It was followed by Malaysia, with a 4.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to South Korea stood at +45.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+1,150.1% per year) and Malaysia (+35.9% per year).

Export Prices by Country

The average cyclohexane export price stood at $X per ton in 2021, picking up by 38% against the previous year. Overall, the export price, however, recorded a abrupt slump. Over the period under review, the average export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Colombia ($X per ton), while the average price for exports to Japan ($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 Colombia (+13.5%), while the prices for the other major destinations experienced mixed trend patterns.

Cyclohexane Imports

Imports into China

In 2021, cyclohexane imports into China fell rapidly to X tons, with a decrease of -85.8% compared with the year before. Overall, imports recorded a precipitous curtailment. The most prominent rate of growth was recorded in 2017 when imports increased by 653% against the previous year. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, cyclohexane imports reduced remarkably to $X in 2021. In general, imports continue to indicate a precipitous decline. The most prominent rate of growth was recorded in 2017 when imports increased by 641% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, South Korea (X tons) constituted the largest supplier of cyclohexane to China, with a 53% share of total imports. Moreover, cyclohexane imports from South Korea exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), fivefold. The third position in this ranking was held by the United States (X tons), with a 10% share.

From 2012 to 2021, the average annual growth rate of volume from South Korea stood at -41.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (0.0% per year) and the United States (-14.3% per year).

In value terms, Germany ($X), the United States ($X) and Japan ($X) appeared to be the largest cyclohexane suppliers to China, together comprising 61% of total imports.

In terms of the main suppliers, Germany, with a CAGR of +9.7%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average cyclohexane import price amounted to $X per ton, jumping by 369% against the previous year. Overall, the import price posted significant growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Germany ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+32.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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