Eastern Asia: Acetone Market 2024

Acetone Market Size in Eastern Asia

The East Asian acetone market dropped to $X in 2021, reducing by -3.5% against the previous year. In general, consumption saw a slight downturn. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Acetone Production in Eastern Asia

In value terms, acetone production soared to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.3% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when the production volume increased by 22% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Acetone Exports

Exports in Eastern Asia

After two years of decline, shipments abroad of acetone increased by 12% to X tons in 2021. The total export volume increased at an average annual rate of +3.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when exports increased by 29% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, acetone exports soared to $X in 2021. Over the period under review, exports showed a tangible increase. The pace of growth was the most pronounced in 2020 with an increase of 70% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, South Korea (X tons) and Taiwan (Chinese) (X tons) represented the key exporters of acetone in Eastern Asia, together amounting to near 82% of total exports. China (X tons) took the next position in the ranking, followed by Japan (X tons). All these countries together held near 18% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by China (with a CAGR of +64.2%), while the other leaders experienced mixed trends in the exports figures.

In value terms, South Korea ($X), Taiwan (Chinese) ($X) and China ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 94% share of total exports.

In terms of the main exporting countries, China, with a CAGR of +54.4%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, with an increase of 26% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 74%. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in China ($X per ton) and South Korea ($X per ton), while Japan ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (-1.0%), while the other leaders experienced a decline in the export price figures.

Acetone Imports

Imports in Eastern Asia

In 2021, purchases abroad of acetone decreased by -8.1% to X tons, falling for the second year in a row after three years of growth. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when imports increased by 38%. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, acetone imports expanded rapidly to $X in 2021. In general, imports recorded a slight setback. The growth pace was the most rapid in 2020 with an increase of 60% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

China dominates imports structure, finishing at X tons, which was approx. 92% of total imports in 2021. It was distantly followed by Japan (X tons), generating a 5.8% share of total imports.

Imports into China decreased at an average annual rate of -1.1% from 2012 to 2021. At the same time, Japan (+16.9%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +16.9% from 2012-2021. From 2012 to 2021, the share of Japan increased by +4.5 percentage points.

In value terms, China ($X) constitutes the largest market for imported acetone in Eastern Asia, comprising 91% of total imports. The second position in the ranking was taken by Japan ($X), with a 6.4% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in China stood at -2.4%.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, surging by 15% against the previous year. Over the period under review, the import price, however, saw a mild decrease. The pace of growth appeared the most rapid in 2020 when the import price increased by 76%. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while China totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-1.3%).

Source: IndexBox Platform

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