Eastern Asia: Butanone Market 2024

Butanone Market Size in Eastern Asia

The East Asian butanone market dropped sharply to $X in 2022, which is down by -17.9% against the previous year. Over the period under review, consumption saw a abrupt slump. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Butanone Production in Eastern Asia

In value terms, butanone production fell slightly to $X in 2022 estimated in export price. Overall, production, however, recorded a perceptible slump. The most prominent rate of growth was recorded in 2018 when the production volume increased by 16%. The level of production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Butanone Exports

Exports in Eastern Asia

For the fourth year in a row, Eastern Asia recorded growth in overseas shipments of butanone (methyl ethyl ketone), which increased by 9.6% to X tons in 2022. Total exports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +6.3% 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 +83.5% against 2012 indices. The pace of growth appeared the most rapid in 2017 with an increase of 21%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, butanone exports soared to $X in 2022. Over the period under review, exports posted a resilient expansion. The pace of growth was the most pronounced in 2017 when exports increased by 51% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

In 2022, China (X tons) represented the largest exporter of butanone (methyl ethyl ketone), comprising 67% of total exports. Japan (X tons) ranks second in terms of the total exports with a 25% share, followed by Taiwan (Chinese) (8.1%).

China was also the fastest-growing in terms of the butanone (methyl ethyl ketone) exports, with a CAGR of +9.6% from 2012 to 2022. At the same time, Japan (+2.9%) displayed positive paces of growth. Taiwan (Chinese) experienced a relatively flat trend pattern. China (+18 p.p.) significantly strengthened its position in terms of the total exports, while Taiwan (Chinese) and Japan saw its share reduced by -6.9% and -9.5% from 2012 to 2022, respectively.

In value terms, China ($X) emerged as the largest butanone supplier in Eastern Asia, comprising 70% of total exports. The second position in the ranking was held by Japan ($X), with a 23% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +11.1%. In the other countries, the average annual rates were as follows: Japan (+4.6% per year) and Taiwan (Chinese) (-4.6% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, surging by 31% against the previous year. Overall, the export price saw a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+1.7%), while the other leaders experienced mixed trends in the export price figures.

Butanone Imports

Imports in Eastern Asia

In 2022, after two years of growth, there was significant decline in overseas purchases of butanone (methyl ethyl ketone), when their volume decreased by -15.9% to X tons. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 32%. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, butanone imports reached $X in 2022. Total imports indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +42.8% against 2019 indices. The growth pace was the most rapid in 2017 when imports increased by 45%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

South Korea dominates imports structure, amounting to X tons, which was near 89% of total imports in 2022. It was distantly followed by Taiwan (Chinese) (X tons), making up a 10% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to butanone imports into South Korea stood at +2.0%. At the same time, Taiwan (Chinese) (+2.8%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +2.8% from 2012-2022. From 2012 to 2022, the share of South Korea and Taiwan (Chinese) increased by +15 and +2.4 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X) constitutes the largest market for imported butanone (methyl ethyl ketone) in Eastern Asia, comprising 91% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 7.9% share of total imports.

In South Korea, butanone imports increased at an average annual rate of +3.8% over the period from 2012-2022.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, with an increase of 24% against the previous year. Import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butanone import price increased by +60.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the import price increased by 29% against the previous year. Over the period under review, import prices hit record highs in 2022 and is likely to see steady growth in years to come.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per ton), while Taiwan (Chinese) amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+1.7%).

Source: IndexBox Platform

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