Eastern Asia: Fungicide And Bactericide Market 2024

Fungicide And Bactericide Market Size in Eastern Asia

The East Asian fungicide and bactericide market declined to $X in 2021, reducing by -5% against the previous year. The total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -5.5% against 2018 indices. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Fungicide And Bactericide Production in Eastern Asia

In value terms, fungicide and bactericide production fell slightly to $X in 2021 estimated in export price. The total production indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +75.1% against 2012 indices. The pace of growth was the most pronounced in 2016 with an increase of 21% against the previous year. The level of production peaked at $X in 2020, and then contracted modestly in the following year.

Fungicide And Bactericide Exports

Exports in Eastern Asia

In 2021, shipments abroad of fungicides, bactericides and seed treatments increased by 15% to X tons, rising for the second year in a row after two years of decline. Total exports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +7.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +35.7% against 2019 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 32%. The volume of export peaked in 2021 and is likely to see gradual growth in the near future.

In value terms, fungicide and bactericide exports stood at $X in 2021. Total exports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +8.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +26.6% against 2019 indices. The pace of growth appeared the most rapid in 2014 when exports increased by 22%. The level of export peaked in 2021 and is expected to retain growth in years to come.

Exports by Country

China dominates exports structure, finishing at X tons, which was approx. 89% of total exports in 2021. It was distantly followed by Japan (X tons), creating a 5.4% share of total exports. South Korea (X tons) and Taiwan (Chinese) (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to fungicide and bactericide exports from China stood at +7.8%. At the same time, South Korea (+9.9%), Taiwan (Chinese) (+4.7%) and Japan (+4.5%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +9.9% from 2012-2021. While the share of China (+1.9 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Japan (-1.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest fungicide and bactericide supplier in Eastern Asia, comprising 78% of total exports. The second position in the ranking was held by Japan ($X), with a 12% share of total exports. It was followed by South Korea, with a 7.5% share.

In China, fungicide and bactericide exports increased at an average annual rate of +10.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Japan (+1.8% per year) and South Korea (+10.5% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, with a decrease of -1.6% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2018 when the export price increased by 16% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while China ($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 (+2.3%), while the other leaders experienced more modest paces of growth.

Fungicide And Bactericide Imports

Imports in Eastern Asia

Fungicide and bactericide imports rose markedly to X tons in 2021, surging by 11% on 2020. The total import volume increased at an average annual rate of +1.5% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, fungicide and bactericide imports rose remarkably to $X in 2021. Over the period under review, imports saw a modest expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China represented the main importing country with an import of around X tons, which recorded 62% of total imports. Japan (X tons) ranks second in terms of the total imports with a 17% share, followed by South Korea (13%) and Taiwan (Chinese) (6.8%).

China was also the fastest-growing in terms of the fungicides, bactericides and seed treatments imports, with a CAGR of +3.3% from 2012 to 2021. At the same time, South Korea (+2.1%) displayed positive paces of growth. Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, Japan (-3.1%) illustrated a downward trend over the same period. China (+8.9 p.p.) significantly strengthened its position in terms of the total imports, while Japan saw its share reduced by -8.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported fungicides, bactericides and seed treatments in Eastern Asia, comprising 59% of total imports. The second position in the ranking was held by Japan ($X), with a 19% share of total imports. It was followed by South Korea, with a 15% share.

From 2012 to 2021, the average annual growth rate of value in China amounted to +2.4%. The remaining importing countries recorded the following average annual rates of imports growth: Japan (-2.2% per year) and South Korea (+0.6% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, leveling off at the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the import price increased by 4.6% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+0.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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