Eastern Asia: Monophenols Market 2024

Monophenols Market Size in Eastern Asia

In 2021, after four years of growth, there was significant decline in the East Asian monophenols market, when its value decreased by -7% to $X. The market value increased at an average annual rate of +3.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2020, and then dropped in the following year.

Monophenols Production in Eastern Asia

In value terms, monophenols production reduced to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when the production volume increased by 30%. Over the period under review, production attained the maximum level at $X in 2020, and then shrank in the following year.

Monophenols Exports

Exports in Eastern Asia

In 2021, the amount of monophenols exported in Eastern Asia expanded sharply to X tons, with an increase of 13% on 2020. The total export volume increased at an average annual rate of +2.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2016 when exports increased by 25% against the previous year. The volume of export peaked in 2021 and is likely to see gradual growth in the immediate term.

In value terms, monophenols exports soared to $X in 2021. Total exports indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, South Korea (X tons), China (X tons) and Taiwan (Chinese) (X tons) was the main exporter of monophenols in Eastern Asia, comprising 91% of total export. It was distantly followed by Japan (X tons), creating a 9.1% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by China (with a CAGR of +15.2%), while the other leaders experienced mixed trends in the exports figures.

In value terms, the largest monophenols supplying countries in Eastern Asia were China ($X), South Korea ($X) and Taiwan (Chinese) ($X), with a combined 90% share of total exports.

China, with a CAGR of +9.9%, saw 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 2021, the export price in Eastern Asia amounted to $X per ton, jumping by 34% against the previous year. Over the period under review, the export price, however, showed a mild descent. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was China ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+0.1%), while the other leaders experienced a decline in the export price figures.

Monophenols Imports

Imports in Eastern Asia

In 2021, approx. X tons of monophenols were imported in Eastern Asia; waning by -7% compared with 2020. In general, imports, however, showed a measured expansion. The pace of growth was the most pronounced in 2018 with an increase of 45%. The volume of import peaked at X tons in 2020, and then reduced in the following year.

In value terms, monophenols imports skyrocketed to $X in 2021. Over the period under review, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 61%. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

China represented the major importer of monophenols in Eastern Asia, with the volume of imports recording X tons, which was near 56% of total imports in 2021. Taiwan (Chinese) (X tons) took a 21% share (based on physical terms) of total imports, which put it in second place, followed by Japan (13%) and South Korea (9.6%).

From 2012 to 2021, average annual rates of growth with regard to monophenols imports into China stood at -1.1%. At the same time, Taiwan (Chinese) (+27.1%) and Japan (+11.5%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +27.1% from 2012-2021. By contrast, South Korea (-3.1%) illustrated a downward trend over the same period. While the share of Taiwan (Chinese) (+18 p.p.) and Japan (+7.1 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of South Korea (-5.9 p.p.) and China (-19.5 p.p.) displayed negative dynamics.

In value terms, China ($X) constitutes the largest market for imported monophenols in Eastern Asia, comprising 51% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 20% share of total imports. It was followed by Japan, with a 16% share.

In China, monophenols imports declined by an average annual rate of -3.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (+18.3% per year) and Japan (+4.5% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, jumping by 45% against the previous year. In general, the import price, however, showed a perceptible decrease. Over the period under review, import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Average prices varied somewhat 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 China ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+0.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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