Eastern Asia: Polyphenols And Phenol-Alcohols Market 2024

Polyphenols And Phenol-Alcohols Market Size in Eastern Asia

The East Asian polyphenols and phenol-alcohols market skyrocketed to $X in 2022, increasing by 113% against the previous year. In general, consumption continues to indicate resilient growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Polyphenols And Phenol-Alcohols Production in Eastern Asia

In value terms, polyphenols and phenol-alcohols production declined slightly to $X in 2022 estimated in export price. Over the period under review, production saw a remarkable increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by 45%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Polyphenols And Phenol-Alcohols Exports

Exports in Eastern Asia

In 2022, the amount of polyphenols and phenol-alcohols exported in Eastern Asia fell to X tons, waning by -9.1% compared with the previous year's figure. Total exports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of +2.5% 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 +1.4% against 2020 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 42%. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, polyphenols and phenol-alcohols exports shrank slightly to $X in 2022. Overall, exports, however, showed buoyant growth. The pace of growth appeared the most rapid in 2018 when exports increased by 41% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then dropped slightly in the following year.

Exports by Country

In 2022, Japan (X tons) represented the key exporter of polyphenols and phenol-alcohols, generating 64% of total exports. China (X tons) ranks second in terms of the total exports with a 28% share, followed by South Korea (4.5%). Taiwan (Chinese) (X tons) followed a long way behind the leaders.

Japan experienced a relatively flat trend pattern with regard to volume of exports of polyphenols and phenol-alcohols. At the same time, China (+10.9%) and South Korea (+2.5%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +10.9% from 2012-2022. By contrast, Taiwan (Chinese) (-5.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by +15 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X), China ($X) and Taiwan (Chinese) ($X) were the countries with the highest levels of exports in 2022, together comprising 96% of total exports.

Among the main exporting countries, China, with a CAGR of +11.1%, recorded the highest growth rate of 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, surging by 6.7% against the previous year. Over the last decade, it increased at an average annual rate of +2.8%. The most prominent rate of growth was recorded in 2018 when the export price increased by 30%. The level of export peaked in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while South Korea ($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 (+3.1%), while the other leaders experienced more modest paces of growth.

Polyphenols And Phenol-Alcohols Imports

Imports in Eastern Asia

For the fourth consecutive year, Eastern Asia recorded growth in supplies from abroad of polyphenols and phenol-alcohols, which increased by 1.5% to X tons in 2022. The total import volume increased at an average annual rate of +2.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 when imports increased by 49% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the near future.

In value terms, polyphenols and phenol-alcohols imports totaled $X in 2022. Total imports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +85.4% against 2016 indices. The pace of growth appeared the most rapid in 2017 when imports increased by 20%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

China represented the major importer of polyphenols and phenol-alcohols in Eastern Asia, with the volume of imports accounting for X tons, which was approx. 59% of total imports in 2022. South Korea (X tons) took the second position in the ranking, distantly followed by Japan (X tons). All these countries together took approx. 37% share of total imports. Taiwan (Chinese) (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to polyphenols and phenol-alcohols imports into China stood at +1.9%. At the same time, South Korea (+8.6%) and Japan (+2.0%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +8.6% from 2012-2022. By contrast, Taiwan (Chinese) (-5.2%) illustrated a downward trend over the same period. While the share of South Korea (+9.8 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of China (-4.1 p.p.) and Taiwan (Chinese) (-4.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest polyphenols and phenol-alcohols importing markets in Eastern Asia were China ($X), South Korea ($X) and Japan ($X), together accounting for 94% of total imports.

South Korea, with a CAGR of +7.9%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, leveling off at the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the import price increased by 22% against the previous year. Over the period under review, import prices reached the maximum in 2022 and is expected to retain growth in years to come.

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 (+2.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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