Eastern Asia: Aromatic Alcohols Market 2024

Aromatic Alcohols Market Size in Eastern Asia

The East Asian aromatic alcohols market rose to $X in 2021, increasing by 1.5% against the previous year. The market value increased at an average annual rate of +3.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2021 and is expected to retain growth in the near future.

Aromatic Alcohols Production in Eastern Asia

In value terms, aromatic alcohols production reduced to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 when the production volume increased by 17% against the previous year. The level of production peaked at $X in 2020, and then fell in the following year.

Aromatic Alcohols Exports

Exports in Eastern Asia

In 2021, exports of aromatic alcohols and their derivatives in Eastern Asia declined slightly to X tons, with a decrease of -4.7% on the year before. Total exports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +7.3% 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 +66.4% against 2016 indices. The growth pace was the most rapid in 2018 with an increase of 36%. The volume of export peaked at X tons in 2020, and then declined in the following year.

In value terms, aromatic alcohols exports rose rapidly to $X in 2021. Overall, exports, however, recorded a remarkable increase. The growth pace was the most rapid in 2018 when exports increased by 32% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

China prevails in exports structure, reaching X tons, which was approx. 90% of total exports in 2021. It was distantly followed by Japan (X tons), achieving a 9.6% share of total exports.

Exports from China increased at an average annual rate of +7.1% from 2012 to 2021. At the same time, Japan (+9.7%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +9.7% from 2012-2021. While the share of Japan (+1.7 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of China (-1.6 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest aromatic alcohols supplier in Eastern Asia, comprising 92% of total exports. The second position in the ranking was taken by Japan ($X), with a 7.1% share of total exports.

In China, aromatic alcohols exports expanded at an average annual rate of +9.3% over the period from 2012-2021.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, surging by 17% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.7%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while Japan amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.0%).

Aromatic Alcohols Imports

Imports in Eastern Asia

In 2021, aromatic alcohols imports in Eastern Asia expanded sharply to X tons, growing by 8.4% on 2020. The total import volume increased at an average annual rate of +4.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 20% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, aromatic alcohols imports rose remarkably to $X in 2021. The total import value increased at an average annual rate of +4.1% 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 2014 when imports increased by 24%. The level of import peaked in 2021 and is expected to retain growth in years to come.

Imports by Country

The purchases of the three major importers of aromatic alcohols and their derivatives, namely Japan, South Korea and China, represented more than two-thirds of total import. It was distantly followed by Taiwan (Chinese) (X tons), achieving a 12% share of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +8.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and South Korea ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 90% share of total imports.

Among the main importing countries, China, with a CAGR of +9.2%, 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

In 2021, the import price in Eastern Asia amounted to $X per ton, growing by 3.9% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the import price increased by 4.9% against the previous year. The level of import peaked at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+1.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :