Eastern Asia: Phenylacetic Acid Market 2024

Phenylacetic Acid Market Size in Eastern Asia

The East Asian phenylacetic acid market stood at $X in 2022, approximately mirroring the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Phenylacetic Acid Production in Eastern Asia

In value terms, phenylacetic acid production fell modestly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Phenylacetic Acid Exports

Exports in Eastern Asia

After two years of growth, overseas shipments of phenylacetic acid, its salts and esters decreased by X% to X tons in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when exports increased by X%. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, phenylacetic acid exports rose to $X in 2022. Total exports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The pace of growth was the most pronounced in 2018 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China dominates exports structure, recording X tons, which was approx. X% of total exports in 2022. Japan (X tons) followed a long way behind the leaders.

China experienced a relatively flat trend pattern with regard to volume of exports of phenylacetic acid, its salts and esters. Japan (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by X percentage points.

In value terms, China ($X) remains the largest phenylacetic acid supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Japan ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled X%.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2016 an increase of X%. Over the period under review, the export prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while Japan stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%).

Phenylacetic Acid Imports

Imports in Eastern Asia

In 2022, supplies from abroad of phenylacetic acid, its salts and esters increased by X% to X tons, rising for the second consecutive year after two years of decline. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, phenylacetic acid imports expanded markedly to $X in 2022. Overall, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 when imports increased by X%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

South Korea (X tons) and Japan (X tons) represented roughly X% of total imports in 2022. Taiwan (Chinese) (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by China (X%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by China (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest phenylacetic acid importing markets in Eastern Asia were South Korea ($X), Japan ($X) and China ($X), together accounting for X% of total imports.

In terms of the main importing countries, China, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the import price increased by X% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

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

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

Source: IndexBox Platform

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