Eastern Asia: Odoriferous Substance Mixture Market 2024

Odoriferous Substance Mixture Market Size in Eastern Asia

The East Asian odoriferous substance mixture market stood at $X in 2022, approximately equating the previous year. The market value increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Odoriferous Substance Mixture Production in Eastern Asia

In value terms, odoriferous substance mixture production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.0% 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 2018 with an increase of 37%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Odoriferous Substance Mixture Exports

Exports in Eastern Asia

After three years of growth, overseas shipments of mixtures of odoriferous substances and their preparations decreased by -5.7% to X tons in 2022. The total export volume increased at an average annual rate of +3.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when exports increased by 16% against the previous year. The volume of export peaked at X tons in 2021, and then dropped in the following year.

In value terms, odoriferous substance mixture exports reduced to $X in 2022. The total export value increased at an average annual rate of +2.3% 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 exports increased by 15%. As a result, the exports attained the peak of $X, and then fell in the following year.

Exports by Country

China represented the largest exporting country with an export of around X tons, which accounted for 66% of total exports. Japan (X tons) held a 13% share (based on physical terms) of total exports, which put it in second place, followed by Hong Kong SAR (12%) and Taiwan (Chinese) (5.3%). South Korea (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to odoriferous substance mixture exports from China stood at +5.4%. At the same time, South Korea (+8.5%), Taiwan (Chinese) (+5.3%) and Hong Kong SAR (+1.2%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +8.5% from 2012-2022. By contrast, Japan (-2.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by +11 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest odoriferous substance mixture supplying countries in Eastern Asia were China ($X), Japan ($X) and Hong Kong SAR ($X), together accounting for 90% of total exports. Taiwan (Chinese) and South Korea lagged somewhat behind, together accounting for a further 10%.

South Korea, with a CAGR of +11.7%, saw the highest rates of growth with regard to 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

The export price in Eastern Asia stood at $X per ton in 2022, approximately reflecting the previous year. Over the period under review, the export price showed a mild contraction. The most prominent rate of growth was recorded in 2018 when the export price increased by 15%. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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 2022, the most notable rate of growth in terms of prices was attained by South Korea (+2.9%), while the other leaders experienced more modest paces of growth.

Odoriferous Substance Mixture Imports

Imports in Eastern Asia

In 2022, approx. X tons of mixtures of odoriferous substances and their preparations were imported in Eastern Asia; reducing by -3.8% against the previous year. The total import volume increased at an average annual rate of +3.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 14%. As a result, imports attained the peak of X tons, and then fell slightly in the following year.

In value terms, odoriferous substance mixture imports declined to $X in 2022. The total import value increased at an average annual rate of +2.1% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by 14%. As a result, imports reached the peak of $X, and then declined in the following year.

Imports by Country

In 2022, China (X tons), distantly followed by Japan (X tons), South Korea (X tons), Taiwan (Chinese) (X tons) and Hong Kong SAR (X tons) were the key importers of mixtures of odoriferous substances and their preparations, together constituting 100% of total imports.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +5.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and South Korea ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 83% share of total imports.

South Korea, with a CAGR of +4.7%, saw the highest growth rate of the value of imports, in terms of 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, with a decrease of -3.1% against the previous year. Overall, the import price recorded a slight descent. The pace of growth was the most pronounced in 2017 an increase of 9.4% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Hong Kong SAR (+1.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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