Japan: Octyl Alcohol Market 2024

Octyl Alcohol Market Size in Japan

The Japanese octyl alcohol market soared to $X in 2022, picking up by 24% against the previous year. Overall, the total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Octyl Alcohol Production in Japan

In value terms, octyl alcohol production stood at $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 8% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Octyl Alcohol Exports

Exports from Japan

In 2022, approx. X tons of octanol (octyl alcohol) and isomers thereof were exported from Japan; declining by -68.7% compared with the previous year. Over the period under review, exports saw a abrupt decline. The growth pace was the most rapid in 2021 when exports increased by 59%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, octyl alcohol exports shrank remarkably to $X in 2022. In general, exports faced a abrupt decrease. The growth pace was the most rapid in 2021 with an increase of 131% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

South Korea (X tons), Indonesia (X tons) and China (X tons) were the main destinations of octyl alcohol exports from Japan, together comprising 91% of total exports. Malaysia, Thailand and Taiwan (Chinese) lagged somewhat behind, together comprising a further 8.4%.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +1,027.7%), while shipments for the other leaders experienced a decline.

In value terms, South Korea ($X), Indonesia ($X) and China ($X) appeared to be the largest markets for octyl alcohol exported from Japan worldwide, with a combined 89% share of total exports. Malaysia, Thailand and Taiwan (Chinese) lagged somewhat behind, together comprising a further 9.7%.

Among the main countries of destination, Malaysia, with a CAGR of +927.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average octyl alcohol export price amounted to $X per ton, declining by -14.6% against the previous year. In general, the export price recorded a mild downturn. The pace of growth was the most pronounced in 2021 when the average export price increased by 45% against the previous year. As a result, the export price attained the peak level of $X per ton, and then reduced in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 Thailand (+1.4%), while the prices for the other major destinations experienced a decline.

Octyl Alcohol Imports

Imports into Japan

In 2022, octyl alcohol imports into Japan reduced to X tons, which is down by -8.1% compared with 2021. Overall, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 47%. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, octyl alcohol imports soared to $X in 2022. Over the period under review, total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.2% 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 +74.6% against 2020 indices. Imports peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Indonesia (X tons) constituted the largest octyl alcohol supplier to Japan, with a 59% share of total imports. Moreover, octyl alcohol imports from Indonesia exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), twofold. The third position in this ranking was taken by the United States (X tons), with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Indonesia amounted to +15.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-2.9% per year) and the United States (+13.8% per year).

In value terms, Indonesia ($X) constituted the largest supplier of octanol (octyl alcohol) and isomers thereof to Japan, comprising 60% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 29% share of total imports. It was followed by Thailand, with a 4.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Indonesia amounted to +20.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+1.1% per year) and Thailand (-14.4% per year).

Import Prices by Country

The average octyl alcohol import price stood at $X per ton in 2022, growing by 70% against the previous year. Over the period under review, the import price enjoyed a perceptible expansion. Over the period under review, average import prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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