Indonesia: Salicylic Acid Market 2024

Salicylic Acid Market Size in Indonesia

The Indonesian salicylic acid market reached $X in 2021, remaining stable against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -20.9% against 2019 indices. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Salicylic Acid Exports

Exports from Indonesia

In 2021, the amount of salicylic acid and its salts exported from Indonesia surged to X tons, rising by 27,833% compared with the previous year's figure. Overall, exports enjoyed pronounced growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, salicylic acid exports skyrocketed to $X in 2021. Over the period under review, exports enjoyed a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

France (X tons) was the main destination for salicylic acid exports from Indonesia, with a 48% share of total exports. Moreover, salicylic acid exports to France exceeded the volume sent to the second major destination, Thailand (X kg), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to France was relatively modest.

In value terms, France ($X) emerged as the key foreign market for salicylic acid and its salts exports from Indonesia, comprising 106% of total exports. The second position in the ranking was taken by Thailand ($X), with a 15% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to France was relatively modest.

Export Prices by Country

In 2021, the average salicylic acid export price amounted to $X per ton, which is down by -44.9% against the previous year. In general, the export price, however, saw a pronounced increase. The growth pace was the most rapid in 2019 when the average export price increased by 102% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices failed to regain momentum.

Average prices varied somewhat for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to France stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (+3.7%), while the prices for the other major destinations experienced mixed trend patterns.

Salicylic Acid Imports

Imports into Indonesia

After four years of decline, overseas purchases of salicylic acid and its salts increased by 20% to X tons in 2021. Overall, total imports indicated pronounced growth from 2012 to 2021: its volume increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -29.9% against 2016 indices. The pace of growth appeared the most rapid in 2016 when imports increased by 95%. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, salicylic acid imports totaled $X in 2021. In general, total imports indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +3.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -20.2% against 2019 indices. The pace of growth appeared the most rapid in 2016 when imports increased by 91% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest salicylic acid supplier to Indonesia, with a 84% share of total imports. Moreover, salicylic acid imports from China exceeded the figures recorded by the second-largest supplier, France (X tons), fivefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +25.6%.

In value terms, China ($X) constituted the largest supplier of salicylic acid and its salts to Indonesia, comprising 80% of total imports. The second position in the ranking was taken by France ($X), with a 19% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +21.4%.

Import Prices by Country

In 2021, the average salicylic acid import price amounted to $X per ton, dropping by -14.1% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 20%. Over the period under review, average import prices hit record highs at $X per ton in 2020, and then fell in the following year.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per ton), while the price for China totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+3.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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