Eastern Asia: Industrial Fatty Alcohols Market 2024

Industrial Fatty Alcohols Market Size in Eastern Asia

For the fourth consecutive year, the East Asian industrial fatty alcohols market recorded growth in sales value, which increased by 0.9% to $X in 2021. The total consumption indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +60.1% against 2013 indices. The level of consumption peaked in 2021 and is likely to continue growth in years to come.

Industrial Fatty Alcohols Production in Eastern Asia

In value terms, industrial fatty alcohols production fell slightly to $X in 2021 estimated in export price. The total production indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +74.8% against 2013 indices. The most prominent rate of growth was recorded in 2016 with an increase of 21% against the previous year. The level of production peaked at $X in 2020, and then dropped slightly in the following year.

Industrial Fatty Alcohols Exports

Exports in Eastern Asia

In 2021, approx. X tons of industrial fatty alcohols were exported in Eastern Asia; growing by 6.2% against 2020 figures. In general, exports, however, recorded a pronounced curtailment. The growth pace was the most rapid in 2016 with an increase of 24%. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, industrial fatty alcohols exports surged to $X in 2021. Over the period under review, exports, however, showed a relatively flat trend pattern. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Japan represented the key exporting country with an export of about X tons, which reached 53% of total exports. China (X tons) held an 18% share (based on physical terms) of total exports, which put it in second place, followed by Taiwan (Chinese) (15%) and South Korea (15%).

Exports from Japan increased at an average annual rate of +3.7% from 2012 to 2021. At the same time, Taiwan (Chinese) (+8.2%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +8.2% from 2012-2021. By contrast, South Korea (-3.4%) and China (-12.5%) illustrated a downward trend over the same period. Japan (+23 p.p.) and Taiwan (Chinese) (+9.1 p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by -28.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) remains the largest industrial fatty alcohols supplier in Eastern Asia, comprising 65% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 13% share of total exports. It was followed by China, with a 12% share.

In Japan, industrial fatty alcohols exports expanded at an average annual rate of +4.1% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Taiwan (Chinese) (+5.6% per year) and China (-10.7% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, surging by 17% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.8%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while China ($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 (+2.2%), while the other leaders experienced mixed trends in the export price figures.

Industrial Fatty Alcohols Imports

Imports in Eastern Asia

In 2021, approx. X tons of industrial fatty alcohols were imported in Eastern Asia; picking up by 1.6% on 2020. Total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +6.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -2.1% against 2019 indices. The pace of growth was the most pronounced in 2013 when imports increased by 15%. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, industrial fatty alcohols imports soared to $X in 2021. Total imports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) represented the main importer of industrial fatty alcohols, making up 72% of total imports. Japan (X tons) ranks second in terms of the total imports with a 12% share, followed by South Korea (12%). Taiwan (Chinese) (X tons) followed a long way behind the leaders.

Imports into China increased at an average annual rate of +6.9% from 2012 to 2021. At the same time, South Korea (+7.0%) and Japan (+4.9%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +7.0% from 2012-2021. Taiwan (Chinese) experienced a relatively flat trend pattern. While the share of China (+3.7 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Japan (-1.5 p.p.) and Taiwan (Chinese) (-2.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported industrial fatty alcohols in Eastern Asia, comprising 71% of total imports. The second position in the ranking was taken by Japan ($X), with a 13% share of total imports. It was followed by South Korea, with an 11% share.

From 2012 to 2021, the average annual growth rate of value in China amounted to +7.7%. The remaining importing countries recorded the following average annual rates of imports growth: Japan (+3.2% per year) and South Korea (+3.6% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, surging by 50% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. Over the period under review, import prices reached the maximum at $X per ton in 2012; afterwards, it flattened through to 2021.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Taiwan (Chinese) ($X per ton) and Japan ($X per ton), while South Korea ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+0.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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