Indonesia: Phenylacetic Acid Market 2024

Phenylacetic Acid Market Size in Indonesia

After two years of growth, the Indonesian phenylacetic acid market decreased by X% to $X in 2022. In general, the total consumption indicated modest growth 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, consumption increased by X% against 2019 indices. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Phenylacetic Acid Exports

Exports from Indonesia

In 2022, approx. X tons of phenylacetic acid, its salts and esters were exported from Indonesia; with an increase of X% against the previous year. Overall, exports, however, showed a noticeable decrease. The growth pace was the most rapid in 2017 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, phenylacetic acid exports skyrocketed to $X in 2022. Over the period under review, exports recorded resilient growth. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the near future.

Exports by Country

India (X tons), Malaysia (X tons) and Germany (X tons) were the main destinations of phenylacetic acid exports from Indonesia, with a combined X% share of total exports. Singapore, Thailand and Vietnam lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for phenylacetic acid, its salts and esters exports from Indonesia, comprising X% of total exports. The second position in the ranking was held by India ($X), with an X% share of total exports. It was followed by Malaysia, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (X% per year) and Malaysia (X% per year).

Export Prices by Country

In 2022, the average phenylacetic acid export price amounted to $X per ton, stabilizing at the previous year. Overall, the export price posted a prominent expansion. The most prominent rate of growth was recorded in 2015 when the average export price increased by X%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (X%), while the prices for the other major destinations experienced more modest paces of growth.

Phenylacetic Acid Imports

Imports into Indonesia

In 2022, after two years of growth, there was significant decline in purchases abroad of phenylacetic acid, its salts and esters, when their volume decreased by X% to X tons. Overall, imports, however, continue to indicate a noticeable expansion. The most prominent rate of growth was recorded in 2016 with an increase of X%. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, phenylacetic acid imports dropped modestly to $X in 2022. Over the period under review, total imports indicated mild growth 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, imports decreased by X% against 2018 indices. The pace of growth was the most pronounced in 2018 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of phenylacetic acid to Indonesia, with a X% share of total imports. Moreover, phenylacetic acid imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), fourfold. South Korea (X tons) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and South Korea (X% per year).

In value terms, China ($X), India ($X) and South Korea ($X) were the largest phenylacetic acid suppliers to Indonesia, together comprising X% of total imports.

South Korea, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average phenylacetic acid import price stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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