Eastern Asia: Other Chemical Products Market 2024

Other Chemical Products Market Size in Eastern Asia

The East Asian other chemical products market amounted to $X in 2022, remaining stable against the previous year. Overall, consumption continues to indicate a abrupt slump. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Other Chemical Products Production in Eastern Asia

In value terms, other chemical products production reached $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by 15% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Other Chemical Products Exports

Exports in Eastern Asia

In 2022, overseas shipments of other chemical products increased by 3.6% to X tons, rising for the fourth consecutive year after five years of decline. In general, exports, however, continue to indicate a significant contraction. The pace of growth was the most pronounced in 2021 when exports increased by 48%. Over the period under review, the exports reached the maximum at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, other chemical products exports declined modestly to $X in 2022. Over the period under review, exports, however, faced a precipitous curtailment. The growth pace was the most rapid in 2021 when exports increased by 9.3% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

South Korea prevails in exports structure, finishing at X tons, which was approx. 91% of total exports in 2022. It was distantly followed by Taiwan (Chinese) (X tons), generating a 5.1% share of total exports. Democratic People's Republic of Korea (X tons) held a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to other chemical products exports from South Korea stood at -17.5%. Democratic People's Republic of Korea (-1.9%) and Taiwan (Chinese) (-33.7%) illustrated a downward trend over the same period. While the share of South Korea (+80 p.p.) and Democratic People's Republic of Korea (+3 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X) remains the largest other chemical products supplier in Eastern Asia, comprising 68% of total exports. The second position in the ranking was held by Democratic People's Republic of Korea ($X), with a 19% share of total exports.

In South Korea, other chemical products exports contracted by an average annual rate of -31.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Democratic People's Republic of Korea (+14.6% per year) and Taiwan (Chinese) (-41.2% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, dropping by -7.6% against the previous year. Over the period under review, the export price faced a abrupt contraction. The pace of growth appeared the most rapid in 2017 when the export price increased by 16% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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 Democratic People's Republic of Korea ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Democratic People's Republic of Korea (+16.8%), while the other leaders experienced a decline in the export price figures.

Other Chemical Products Imports

Imports in Eastern Asia

After four years of growth, overseas purchases of other chemical products decreased by -0.9% to X tons in 2022. In general, imports recorded a abrupt downturn. The growth pace was the most rapid in 2016 when imports increased by 15%. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, other chemical products imports stood at $X in 2022. Overall, imports saw a abrupt setback. The pace of growth appeared the most rapid in 2016 with an increase of 4.5% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Taiwan (Chinese) prevails in imports structure, accounting for X tons, which was near 95% of total imports in 2022. The following importers - South Korea (X tons) and Macao SAR (X tons) - together made up 4.2% of total imports.

From 2012 to 2022, average annual rates of growth with regard to other chemical products imports into Taiwan (Chinese) stood at +3.0%. At the same time, Macao SAR (+16.0%) displayed positive paces of growth. Moreover, Macao SAR emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +16.0% from 2012-2022. By contrast, South Korea (-30.8%) illustrated a downward trend over the same period. Taiwan (Chinese) (+87 p.p.) and Macao SAR (+1.5 p.p.) significantly strengthened its position in terms of the total imports, while South Korea saw its share reduced by -8.7% from 2012 to 2022, respectively.

In value terms, Taiwan (Chinese) ($X) constitutes the largest market for imported other chemical products in Eastern Asia, comprising 96% of total imports. The second position in the ranking was held by Macao SAR ($X), with a 1.7% share of total imports.

In Taiwan (Chinese), other chemical products imports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Macao SAR (+24.1% per year) and South Korea (-36.0% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, surging by 1.6% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. The most prominent rate of growth was recorded in 2017 an increase of 53%. As a result, import price reached the peak level of $X per ton. From 2018 to 2022, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Macao SAR ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Macao SAR (+7.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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