Eastern Asia: Ethanal Market 2024

Ethanal Market Size in Eastern Asia

The East Asian ethanal market shrank to $X in 2022, falling by -13.5% against the previous year. In general, consumption showed a strong increase. Over the period under review, the market reached the peak level at $X in 2021, and then fell in the following year.

Ethanal Production in Eastern Asia

In value terms, ethanal production shrank slightly to $X in 2022 estimated in export price. Overall, production saw a buoyant expansion. The most prominent rate of growth was recorded in 2018 when the production volume increased by 52% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Ethanal Exports

Exports in Eastern Asia

In 2022, overseas shipments of ethanal (acetaldehyde) decreased by -8.8% to X tons for the first time since 2015, thus ending a six-year rising trend. Overall, exports, however, continue to indicate a significant expansion. The growth pace was the most rapid in 2013 with an increase of 443%. The volume of export peaked at X tons in 2021, and then shrank in the following year.

In value terms, ethanal exports fell to $X in 2022. Over the period under review, exports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 1,479% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2022, Taiwan (Chinese) (X tons) represented the major exporter of ethanal (acetaldehyde), generating 73% of total exports. It was distantly followed by Japan (X tons), constituting a 23% share of total exports. China (X tons) took a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to ethanal exports from Taiwan (Chinese) stood at +37.2%. At the same time, Japan (+97.7%) and China (+6.0%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +97.7% from 2012-2022. While the share of Japan (+22 p.p.) and China (+4.1 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Taiwan (Chinese) (-11 p.p.) displayed negative dynamics.

In value terms, the largest ethanal supplying countries in Eastern Asia were Taiwan (Chinese) ($X), Japan ($X) and China ($X), together comprising 100% of total exports.

Japan, with a CAGR of +26.9%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, leveling off at the previous year. In general, the export price continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2013 when the export price increased by 191% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the export prices remained at a somewhat lower figure.

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 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 China (+6.3%), while the other leaders experienced a decline in the export price figures.

Ethanal Imports

Imports in Eastern Asia

After two years of decline, supplies from abroad of ethanal (acetaldehyde) increased by 47% to X tons in 2022. Over the period under review, imports saw a strong expansion. The most prominent rate of growth was recorded in 2013 with an increase of 3,327%. The volume of import peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, ethanal imports skyrocketed to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when imports increased by 280%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

South Korea dominates imports structure, accounting for X tons, which was near 93% of total imports in 2022. The following importers - Hong Kong SAR (X kg) and Japan (X kg) - each reached a 5.5% share of total imports.

South Korea was also the fastest-growing in terms of the ethanal (acetaldehyde) imports, with a CAGR of +43.7% from 2012 to 2022. Hong Kong SAR (-10.7%) and Japan (-24.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of South Korea increased by +88 percentage points.

In value terms, the largest ethanal importing markets in Eastern Asia were South Korea ($X), Japan ($X) and Hong Kong SAR ($X), with a combined 73% share of total imports.

South Korea, with a CAGR of +26.8%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, which is down by -13.8% against the previous year. Over the period under review, the import price recorded a abrupt decline. The pace of growth appeared the most rapid in 2018 when the import price increased by 107%. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, 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 Japan ($X per ton), while Hong Kong SAR ($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 (+19.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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