Eastern Asia: Market for Benzoyl Peroxide And Benzoyl Chloride 2024

Market Size for Benzoyl Peroxide And Benzoyl Chloride in Eastern Asia

In 2022, after two years of growth, there was significant decline in the East Asian benzoyl peroxide and chloride market, when its value decreased by -61.8% to $X. Over the period under review, consumption showed a abrupt descent. Over the period under review, the market attained the maximum level at $X in 2021, and then fell dramatically in the following year.

Production of Benzoyl Peroxide And Benzoyl Chloride in Eastern Asia

In value terms, benzoyl peroxide and chloride production dropped to $X in 2022 estimated in export price. Overall, production, however, saw a slight shrinkage. The most prominent rate of growth was recorded in 2018 when the production volume increased by 18% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Exports of Benzoyl Peroxide And Benzoyl Chloride

Exports in Eastern Asia

In 2022, after two years of decline, there was significant growth in overseas shipments of benzoyl peroxide and benzoyl chloride, when their volume increased by 110% to X tons. Total exports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, benzoyl peroxide and chloride exports surged to $X in 2022. Total exports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +149.2% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China dominates exports structure, accounting for X tons, which was approx. 81% of total exports in 2022. South Korea (X tons) ranks second in terms of the total exports with a 9.6% share, followed by Japan (6%). Taiwan (Chinese) (X tons) held a minor share of total exports.

China was also the fastest-growing in terms of the benzoyl peroxide and benzoyl chloride exports, with a CAGR of +7.9% from 2012 to 2022. At the same time, South Korea (+3.9%) displayed positive paces of growth. By contrast, Japan (-4.6%) and Taiwan (Chinese) (-8.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by +18 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest benzoyl peroxide and chloride supplier in Eastern Asia, comprising 78% of total exports. The second position in the ranking was taken by South Korea ($X), with a 14% share of total exports. It was followed by Japan, with a 4% share.

In China, benzoyl peroxide and chloride exports expanded at an average annual rate of +5.3% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (+7.7% per year) and Japan (-3.7% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, surging by 9.5% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the export price increased by 20% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+3.6%), while the other leaders experienced more modest paces of growth.

Imports of Benzoyl Peroxide And Benzoyl Chloride

Imports in Eastern Asia

In 2022, benzoyl peroxide and chloride imports in Eastern Asia shrank to X tons, approximately equating the previous year's figure. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 8.9%. Over the period under review, imports reached the maximum at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, benzoyl peroxide and chloride imports rose notably to $X in 2022. The total import value increased at an average annual rate of +2.7% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 28% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, South Korea (X tons) was the key importer of benzoyl peroxide and benzoyl chloride, constituting 57% of total imports. Taiwan (Chinese) (X tons) held a 23% share (based on physical terms) of total imports, which put it in second place, followed by China (12%) and Japan (7.3%).

South Korea was also the fastest-growing in terms of the benzoyl peroxide and benzoyl chloride imports, with a CAGR of +3.6% from 2012 to 2022. Taiwan (Chinese) (-2.3%), China (-2.7%) and Japan (-4.3%) illustrated a downward trend over the same period. South Korea (+15 p.p.) significantly strengthened its position in terms of the total imports, while Japan, China and Taiwan (Chinese) saw its share reduced by -4.5%, -4.5% and -7% from 2012 to 2022, respectively.

In value terms, South Korea ($X) constitutes the largest market for imported benzoyl peroxide and benzoyl chloride in Eastern Asia, comprising 57% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 15% share of total imports. It was followed by China, with a 15% share.

In South Korea, benzoyl peroxide and chloride imports increased at an average annual rate of +6.4% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-2.0% per year) and China (+1.9% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, increasing by 12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.3%. The pace of growth appeared the most rapid in 2021 when the import price increased by 18%. The level of import peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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