Eastern Asia: Cyclic Hydrocarbons Market 2024

Cyclic Hydrocarbons Market Size in Eastern Asia

The East Asian cyclic hydrocarbons market stood at $X in 2021, growing by 2.2% against the previous year. The market value increased at an average annual rate of +3.3% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Cyclic Hydrocarbons Production in Eastern Asia

In value terms, cyclic hydrocarbons production rose notably to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 17%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Cyclic Hydrocarbons Exports

Exports in Eastern Asia

In 2021, after two years of decline, there was significant growth in shipments abroad of other cyclic hydrocarbons, when their volume increased by 38% to X tons. In general, exports, however, recorded a slight setback. The growth pace was the most rapid in 2018 when exports increased by 52% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, cyclic hydrocarbons exports surged to $X in 2021. Over the period under review, exports, however, recorded a mild shrinkage. The pace of growth was the most pronounced in 2018 with an increase of 42%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

China was the main exporting country with an export of around X tons, which resulted at 56% of total exports. Japan (X tons) took a 20% share (based on physical terms) of total exports, which put it in second place, followed by Taiwan (Chinese) (14%) and South Korea (9.5%).

China was also the fastest-growing in terms of the other cyclic hydrocarbons exports, with a CAGR of +14.6% from 2012 to 2021. Japan (-4.8%), South Korea (-6.5%) and Taiwan (Chinese) (-13.0%) illustrated a downward trend over the same period. China (+42 p.p.) significantly strengthened its position in terms of the total exports, while South Korea, Japan and Taiwan (Chinese) saw its share reduced by -5.7%, -7.4% and -28.3% from 2012 to 2021, respectively.

In value terms, China ($X) remains the largest cyclic hydrocarbons supplier in Eastern Asia, comprising 69% of total exports. The second position in the ranking was held by Japan ($X), with a 19% share of total exports. It was followed by Taiwan (Chinese), with a 6% share.

From 2012 to 2021, the average annual growth rate of value in China totaled +4.6%. In the other countries, the average annual rates were as follows: Japan (-4.0% per year) and Taiwan (Chinese) (-15.4% per year).

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, rising by 2.6% against the previous year. In general, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 15%. The level of export peaked at $X per ton in 2013; however, from 2014 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 ($X per ton), while Taiwan (Chinese) ($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 (+0.8%), while the other leaders experienced a decline in the export price figures.

Cyclic Hydrocarbons Imports

Imports in Eastern Asia

In 2021, overseas purchases of other cyclic hydrocarbons increased by 13% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, continue to indicate a noticeable decrease. The pace of growth was the most pronounced in 2017 with an increase of 37%. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, cyclic hydrocarbons imports amounted to $X in 2021. Overall, imports, however, recorded a abrupt decline. The most prominent rate of growth was recorded in 2018 with an increase of 19%. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) was the main importer of other cyclic hydrocarbons, committing 48% of total imports. South Korea (X tons) took the second position in the ranking, followed by Japan (X tons) and Taiwan (Chinese) (X tons). All these countries together held approx. 52% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Taiwan (Chinese) (with a CAGR of +6.2%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, South Korea ($X), China ($X) and Japan ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 78% of total imports. Taiwan (Chinese) lagged somewhat behind, comprising a further 21%.

Among the main importing countries, Taiwan (Chinese), with a CAGR of +26.1%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, remaining relatively unchanged against the previous year. Over the period under review, the import price continues to indicate a mild contraction. The growth pace was the most rapid in 2014 when the import price increased by 19% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Taiwan (Chinese) ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+18.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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