Eastern Asia: Cumene Market 2024

Cumene Market Size in Eastern Asia

The East Asian cumene market surged to $X in 2021, increasing by 18% against the previous year. The total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +8.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +76.7% against 2016 indices. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Cumene Production in Eastern Asia

In value terms, cumene production rose slightly to $X in 2021 estimated in export price. Overall, production saw a pronounced contraction. The most prominent rate of growth was recorded in 2017 when the production volume increased by 12% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Cumene Exports

Exports in Eastern Asia

In 2021, shipments abroad of cumene was finally on the rise to reach X tons after three years of decline. Over the period under review, exports, however, recorded a perceptible curtailment. The volume of export peaked at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, cumene exports surged to $X in 2021. In general, exports, however, showed a abrupt downturn. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Japan prevails in exports structure, amounting to X tons, which was approx. 89% of total exports in 2021. It was distantly followed by South Korea (X tons), creating a 9.2% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to cumene exports from Japan stood at -3.8%. At the same time, South Korea (+25.2%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +25.2% from 2012-2021. South Korea (+8.3 p.p.) significantly strengthened its position in terms of the total exports, while Japan saw its share reduced by -9.5% from 2012 to 2021, respectively.

In value terms, Japan ($X) remains the largest cumene supplier in Eastern Asia, comprising 89% of total exports. The second position in the ranking was held by South Korea ($X), with a 9.6% share of total exports.

In Japan, cumene exports decreased by an average annual rate of -6.7% over the period from 2012-2021.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, increasing by 51% against the previous year. In general, the export price, however, continues to indicate a noticeable decline. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while Japan stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (-3.0%).

Cumene Imports

Imports in Eastern Asia

In 2021, imports of cumene in Eastern Asia rose markedly to X tons, growing by 13% compared with the previous year. Total imports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +11.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 108% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, cumene imports skyrocketed to $X in 2021. Overall, imports recorded resilient growth. The pace of growth appeared the most rapid in 2013 when imports increased by 127%. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China represented the largest importer of cumene in Eastern Asia, with the volume of imports accounting for X tons, which was near 78% of total imports in 2021. It was distantly followed by Taiwan (Chinese) (X tons) and South Korea (X tons), together committing a 22% share of total imports.

China was also the fastest-growing in terms of the cumene imports, with a CAGR of +33.2% from 2012 to 2021. Taiwan (Chinese) experienced a relatively flat trend pattern. South Korea (-9.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China increased by +62 percentage points.

In value terms, China ($X) constitutes the largest market for imported cumene in Eastern Asia, comprising 80% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 16% share of total imports.

From 2012 to 2021, the average annual growth rate of value in China totaled +29.2%. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (-3.7% per year) and South Korea (-16.3% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, jumping by 46% against the previous year. In general, the import price, however, saw a pronounced curtailment. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-3.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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