China: Odoriferous Substance Mixture Market 2024

Odoriferous Substance Mixture Market Size in China

The Chinese odoriferous substance mixture market was estimated at $X in 2022, approximately reflecting the previous year. The market value increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Odoriferous Substance Mixture Production in China

In value terms, odoriferous substance mixture production reached $X in 2022 estimated in export price. Overall, the total production indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -25.1% against 2018 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 48%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Odoriferous Substance Mixture Exports

Exports from China

In 2022, shipments abroad of mixtures of odoriferous substances and their preparations decreased by -7.2% to X tons for the first time since 2018, thus ending a three-year rising trend. In general, total exports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 26%. The exports peaked at X tons in 2021, and then shrank in the following year.

In value terms, odoriferous substance mixture exports contracted to $X in 2022. The total export value increased at an average annual rate of +3.4% 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 2021 with an increase of 19% against the previous year. As a result, the exports reached the peak of $X, and then fell in the following year.

Exports by Country

Indonesia (X tons), India (X tons) and the United States (X tons) were the main destinations of odoriferous substance mixture exports from China, together comprising 34% of total exports. Vietnam, Japan, Singapore, the Philippines, Switzerland, Thailand, Nigeria, South Korea, Russia and Brazil lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2022, the biggest increases were recorded for Switzerland (with a CAGR of +37.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Vietnam ($X) and Japan ($X) were the largest markets for odoriferous substance mixture exported from China worldwide, with a combined 31% share of total exports. India, South Korea, the United States, Nigeria, Singapore, Thailand, the Philippines, Switzerland, Brazil and Russia lagged somewhat behind, together accounting for a further 39%.

Switzerland, with a CAGR of +28.6%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average odoriferous substance mixture export price amounted to $X per ton, stabilizing at the previous year. Over the period under review, the export price, however, saw a slight decrease. The most prominent rate of growth was recorded in 2018 when the average export price increased by 20%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Nigeria (+12.9%), while the prices for the other major destinations experienced mixed trend patterns.

Odoriferous Substance Mixture Imports

Imports into China

In 2022, supplies from abroad of mixtures of odoriferous substances and their preparations decreased by -3.9% to X tons for the first time since 2017, thus ending a four-year rising trend. The total import volume increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of 14% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then shrank modestly in the following year.

In value terms, odoriferous substance mixture imports declined slightly to $X in 2022. The total import value increased at an average annual rate of +2.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 17%. As a result, imports reached the peak of $X, and then dropped in the following year.

Imports by Country

The United States (X tons), Singapore (X tons) and Thailand (X tons) were the main suppliers of odoriferous substance mixture imports to China, with a combined 45% share of total imports. The UK, India, Ireland, Japan, Germany, South Korea, Brazil and France lagged somewhat behind, together comprising a further 30%.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of +11.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest odoriferous substance mixture suppliers to China were the United States ($X), Singapore ($X) and Ireland ($X), with a combined 42% share of total imports.

Ireland, with a CAGR of +19.5%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average odoriferous substance mixture import price amounted to $X per ton, therefore, remained relatively stable against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 26% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Ireland ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+10.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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