Malaysia: Butanone Market 2024

Butanone Market Size in Malaysia

In 2022, the Malaysian butanone market decreased by -4.5% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, the total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +7.4% 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 +12.0% against 2019 indices. Butanone consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Butanone Exports

Exports from Malaysia

In 2022, butanone exports from Malaysia declined dramatically to X tons, waning by -28.7% against the year before. Overall, exports recorded a sharp decrease. The most prominent rate of growth was recorded in 2021 with an increase of 135%. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, butanone exports reduced remarkably to $X in 2022. In general, exports continue to indicate a sharp reduction. The pace of growth was the most pronounced in 2021 with an increase of 182%. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Singapore (X tons) was the main destination for butanone exports from Malaysia, accounting for a 68% share of total exports. Moreover, butanone exports to Singapore exceeded the volume sent to the second major destination, the Philippines (X tons), ninefold. The third position in this ranking was held by Iran (X tons), with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Singapore amounted to -28.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (-9.2% per year) and Iran (-22.6% per year).

In value terms, Singapore ($X) remains the key foreign market for butanone (methyl ethyl ketone) exports from Malaysia, comprising 63% of total exports. The second position in the ranking was held by the Philippines ($X), with an 8.3% share of total exports. It was followed by Indonesia, with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Singapore amounted to -26.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (-12.1% per year) and Indonesia (-9.8% per year).

Export Prices by Country

In 2022, the average butanone export price amounted to $X per ton, declining by -5% against the previous year. Over the period under review, export price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butanone export price increased by +58.0% against 2016 indices. The pace of growth appeared the most rapid in 2021 an increase of 20%. As a result, the export price reached the peak level of $X per ton, and then reduced modestly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Hong Kong SAR ($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 (+9.5%), while the prices for the other major destinations experienced more modest paces of growth.

Butanone Imports

Imports into Malaysia

In 2022, after five years of growth, there was decline in purchases abroad of butanone (methyl ethyl ketone), when their volume decreased by -1.7% to X tons. In general, imports, however, continue to indicate a strong increase. The most prominent rate of growth was recorded in 2015 with an increase of 49%. Imports peaked at X tons in 2021, and then dropped modestly in the following year.

In value terms, butanone imports contracted to $X in 2022. Over the period under review, total imports indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +3.5% 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 +12.2% against 2019 indices. The growth pace was the most rapid in 2014 with an increase of 35% against the previous year. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Japan (X tons) constituted the largest supplier of butanone to Malaysia, accounting for a 60% share of total imports. Moreover, butanone imports from Japan exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was taken by Singapore (X tons), with a 6.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Japan totaled +18.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+47.8% per year) and Singapore (+4.5% per year).

In value terms, Japan ($X) constituted the largest supplier of butanone (methyl ethyl ketone) to Malaysia, comprising 52% of total imports. The second position in the ranking was held by China ($X), with a 26% share of total imports. It was followed by Singapore, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from Japan amounted to +5.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+28.6% per year) and Singapore (+1.8% per year).

Import Prices by Country

In 2022, the average butanone import price amounted to $X per ton, shrinking by -4.5% against the previous year. In general, the import price continues to indicate a deep contraction. The most prominent rate of growth was recorded in 2017 an increase of 30%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+4.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :