Eastern Asia: Azo- Or Azoxy-Compounds Market 2024

Azo- Or Azoxy-Compounds Market Size in Eastern Asia

The East Asian azo- or azoxy-compounds market dropped to $X in 2022, falling by -10.5% against the previous year. Overall, consumption showed a slight reduction. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Azo- Or Azoxy-Compounds Production in Eastern Asia

In value terms, azo- or azoxy-compounds production dropped to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a noticeable setback. The growth pace was the most rapid in 2013 when the production volume increased by 26%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Azo- Or Azoxy-Compounds Exports

Exports in Eastern Asia

In 2022, azo- or azoxy-compounds exports in Eastern Asia declined to X tons, waning by -6.4% compared with 2021 figures. The total export volume increased at an average annual rate of +4.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 21% against the previous year. As a result, the exports attained the peak of X tons, and then contracted in the following year.

In value terms, azo- or azoxy-compounds exports shrank to $X in 2022. In general, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 48% against the previous year. As a result, the exports reached the peak of $X, and then shrank in the following year.

Exports by Country

In 2022, China (X tons) represented the main exporter of diazo-, azo- or azoxy-compounds, comprising 88% of total exports. It was distantly followed by South Korea (X tons), generating an 11% share of total exports.

Exports from China increased at an average annual rate of +4.1% from 2012 to 2022. At the same time, South Korea (+5.9%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +5.9% from 2012-2022. While the share of South Korea (+1.7 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest azo- or azoxy-compounds supplier in Eastern Asia, comprising 62% of total exports. The second position in the ranking was taken by South Korea ($X), with a 21% share of total exports.

From 2012 to 2022, the average annual growth rate of value in China was relatively modest.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, falling by -4.5% against the previous year. Overall, the export price recorded a noticeable decline. The pace of growth was the most pronounced in 2021 when the export price increased by 23% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while China amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (-2.5%).

Azo- Or Azoxy-Compounds Imports

Imports in Eastern Asia

In 2022, approx. X tons of diazo-, azo- or azoxy-compounds were imported in Eastern Asia; shrinking by -21.3% on the previous year. The total import volume increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 39% against the previous year. As a result, imports reached the peak of X tons, and then fell sharply in the following year.

In value terms, azo- or azoxy-compounds imports shrank modestly to $X in 2022. The total import value increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 29%. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

South Korea represented the major importing country with an import of about X tons, which accounted for 56% of total imports. Japan (X tons) ranks second in terms of the total imports with a 21% share, followed by Taiwan (Chinese) (16%) and China (5.8%).

From 2012 to 2022, average annual rates of growth with regard to azo- or azoxy-compounds imports into South Korea stood at +1.2%. At the same time, Japan (+5.5%) and China (+2.6%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +5.5% from 2012-2022. Taiwan (Chinese) experienced a relatively flat trend pattern. From 2012 to 2022, the share of Japan increased by +6.5 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X), Taiwan (Chinese) ($X) and Japan ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 82% share of total imports. These countries were followed by China, which accounted for a further 15%.

China, with a CAGR of +8.8%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, growing by 21% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. Over the period under review, import prices attained the maximum at $X per ton in 2012; afterwards, it flattened through to 2022.

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 2022, the most notable rate of growth in terms of prices was attained by China (+6.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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