Eastern Asia: Octyl Alcohol Market 2024

Octyl Alcohol Market Size in Eastern Asia

In 2022, the East Asian octyl alcohol market decreased by -6.5% to $X, falling for the third consecutive year after three years of growth. The total consumption indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -11.1% against 2019 indices. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Octyl Alcohol Production in Eastern Asia

In value terms, octyl alcohol production shrank to $X in 2022 estimated in export price. The total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +7.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.1% against 2019 indices. The pace of growth was the most pronounced in 2013 with an increase of 30% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Octyl Alcohol Exports

Exports in Eastern Asia

In 2022, after two years of growth, there was decline in overseas shipments of octanol (octyl alcohol) and isomers thereof, when their volume decreased by -2.2% to X tons. In general, exports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by 37%. As a result, the exports reached the peak of X tons, and then reduced slightly in the following year.

In value terms, octyl alcohol exports contracted sharply to $X in 2022. Overall, exports continue to indicate a slight shrinkage. The growth pace was the most rapid in 2021 with an increase of 137%. As a result, the exports reached the peak of $X, and then fell markedly in the following year.

Exports by Country

The biggest shipments were from South Korea (X tons), China (X tons) and Taiwan (Chinese) (X tons), together reaching 92% of total export. It was distantly followed by Japan (X tons), comprising a 7.9% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by China (with a CAGR of +26.2%), while the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), China ($X) and Taiwan (Chinese) ($X) constituted the countries with the highest levels of exports in 2022, together accounting for 92% of total exports.

In terms of the main exporting countries, China, with a CAGR of +24.8%, saw the highest rates of growth with regard to the value of exports, 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, declining by -15.2% against the previous year. Over the period under review, the export price continues to indicate a slight contraction. The growth pace was the most rapid in 2021 when the export price increased by 73% against the previous year. As a result, the export price reached the peak level of $X per ton, and then reduced remarkably in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-1.1%), while the other leaders experienced a decline in the export price figures.

Octyl Alcohol Imports

Imports in Eastern Asia

Octyl alcohol imports contracted remarkably to X tons in 2022, which is down by -35.3% compared with the previous year's figure. Over the period under review, imports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2021 with an increase of 9.1%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, octyl alcohol imports fell markedly to $X in 2022. In general, imports saw a deep downturn. The pace of growth appeared the most rapid in 2021 with an increase of 73%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

China was the main importing country with an import of about X tons, which recorded 80% of total imports. It was distantly followed by South Korea (X tons), comprising a 17% share of total imports. Japan (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to octyl alcohol imports into China stood at -7.9%. Japan experienced a relatively flat trend pattern. South Korea (-2.6%) illustrated a downward trend over the same period. While the share of South Korea (+7.1 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of China (-2.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported octanol (octyl alcohol) and isomers thereof in Eastern Asia, comprising 74% of total imports. The second position in the ranking was taken by South Korea ($X), with a 19% share of total imports.

In China, octyl alcohol imports declined by an average annual rate of -8.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (-2.0% per year) and Japan (+5.2% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, which is down by -9.1% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by 58% against the previous year. As a result, import price reached the peak level of $X per ton, and then dropped in the following year.

Prices varied noticeably by country of destination: amid the top importers, 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 Japan (+4.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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