Eastern Asia: Aromatic Hydrocarbon Mixtures Market 2024

Aromatic Hydrocarbon Mixtures Market Size in Eastern Asia

The East Asian aromatic hydrocarbon mixtures market surged to $X in 2022, growing by 17% against the previous year. Over the period under review, consumption, however, continues to indicate a perceptible downturn. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Aromatic Hydrocarbon Mixtures Production in Eastern Asia

In value terms, aromatic hydrocarbon mixtures production dropped modestly to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 13% against the previous year. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Aromatic Hydrocarbon Mixtures Exports

Exports in Eastern Asia

In 2022, shipments abroad of naphthalene and other aromatic hydrocarbon mixtures decreased by -2.2% to X tons, falling for the second year in a row after two years of growth. Total exports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +8.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -11.4% against 2020 indices. The pace of growth appeared the most rapid in 2014 with an increase of 60% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, aromatic hydrocarbon mixtures exports skyrocketed to $X in 2022. Total exports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +6.7% 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 +88.9% against 2020 indices. The growth pace was the most rapid in 2014 with an increase of 47%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

Japan (X tons) and South Korea (X tons) dominates exports structure, together constituting 85% of total exports. Taiwan (Chinese) (X tons) held a 10% share (based on physical terms) of total exports, which put it in second place, followed by China (4.9%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Japan (with a CAGR of +14.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest aromatic hydrocarbon mixtures supplying countries in Eastern Asia were Japan ($X), South Korea ($X) and Taiwan (Chinese) ($X), together accounting for 95% of total exports.

Japan, with a CAGR of +13.6%, saw the highest growth rate of the value of exports, in terms of 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

In 2022, the export price in Eastern Asia amounted to $X per ton, growing by 41% against the previous year. Over the period under review, the export price, however, recorded a slight descent. The most prominent rate of growth was recorded in 2021 an increase of 52%. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Taiwan (Chinese) ($X per ton) and China ($X per ton), while Japan ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+1.2%), while the other leaders experienced a decline in the export price figures.

Aromatic Hydrocarbon Mixtures Imports

Imports in Eastern Asia

Aromatic hydrocarbon mixtures imports surged to X tons in 2022, with an increase of 16% on the previous year's figure. Overall, imports showed slight growth. The most prominent rate of growth was recorded in 2020 with an increase of 87%. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, aromatic hydrocarbon mixtures imports skyrocketed to $X in 2022. In general, imports, however, recorded a noticeable reduction. The growth pace was the most rapid in 2016 when imports increased by 55% against the previous year. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

China prevails in imports structure, resulting at X tons, which was approx. 92% of total imports in 2022. It was distantly followed by South Korea (X tons), achieving a 6.3% share of total imports.

Imports into China increased at an average annual rate of +1.6% from 2012 to 2022. At the same time, South Korea (+13.7%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +13.7% from 2012-2022. From 2012 to 2022, the share of South Korea increased by +4.2 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported naphthalene and other aromatic hydrocarbon mixtures in Eastern Asia, comprising 91% of total imports. The second position in the ranking was held by South Korea ($X), with a 7.6% share of total imports.

In China, aromatic hydrocarbon mixtures imports plunged by an average annual rate of -3.5% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, therefore, remained relatively stable against the previous year. Overall, the import price, however, saw a pronounced curtailment. The most prominent rate of growth was recorded in 2021 an increase of 49% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per ton), while China totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (-2.4%).

Source: IndexBox Platform

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