Eastern Asia: Isocyanates Market 2024

Isocyanates Market Size in Eastern Asia

In 2022, the East Asian isocyanates market decreased by X% to $X, falling for the fourth consecutive year after two years of growth. In general, consumption, however, showed a noticeable slump. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Isocyanates Production in Eastern Asia

In value terms, isocyanates production shrank modestly to $X in 2022 estimated in export price. In general, production, however, showed a pronounced slump. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Isocyanates Exports

Exports in Eastern Asia

In 2022, shipments abroad of isocyanates decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. The total export volume increased at an average annual rate of X% 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 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons, leveling off in the following year.

In value terms, isocyanates exports rose notably to $X in 2022. Total exports indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by X%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

China (X tons) and South Korea (X tons) represented the major exporters of isocyanates in 2022, finishing at approx. X% and X% of total exports, respectively. It was distantly followed by Japan (X tons), generating a X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, China ($X), South Korea ($X) and Japan ($X) constituted the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

China, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, picking up by X% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (X%), while the other leaders experienced mixed trends in the export price figures.

Isocyanates Imports

Imports in Eastern Asia

In 2022, approx. X tons of isocyanates were imported in Eastern Asia; dropping by X% against 2021. Overall, imports showed a pronounced decrease. The pace of growth was the most pronounced in 2018 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, isocyanates imports reduced to $X in 2022. Over the period under review, imports saw a noticeable decline. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) was the main importer of isocyanates, achieving X% of total imports. Taiwan (Chinese) (X tons) ranks second in terms of the total imports with a X% share, followed by Japan (X%) and South Korea (X%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by South Korea (with a CAGR of X%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, China ($X) constitutes the largest market for imported isocyanates in Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

In China, isocyanates imports shrank by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (X% per year) and Japan (X% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, which is down by X% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by X%. As a result, import price reached the peak level of $X per ton, and then reduced in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per ton), while Taiwan (Chinese) ($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 (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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