Malaysia: Ethyl Acetate Market 2024

Ethyl Acetate Market Size in Malaysia

In 2021, the Malaysian ethyl acetate market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, the total consumption indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Ethyl Acetate Production in Malaysia

In value terms, ethyl acetate production stood at $X in 2021 estimated in export price. In general, production recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2013 when the production volume increased by 2.1%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

Ethyl Acetate Exports

Exports from Malaysia

In 2021, overseas shipments of ethyl acetate increased by 59% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports saw resilient growth. The pace of growth appeared the most rapid in 2016 when exports increased by 723% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, ethyl acetate exports soared to $X in 2021. Over the period under review, exports recorded a prominent expansion. The pace of growth appeared the most rapid in 2016 when exports increased by 713% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Singapore (X tons) was the main destination for ethyl acetate exports from Malaysia, accounting for a 72% share of total exports. Moreover, ethyl acetate exports to Singapore exceeded the volume sent to the second major destination, Bangladesh (X tons), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Singapore stood at +20.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (+30.3% per year) and Sri Lanka (+15.0% per year).

In value terms, Singapore ($X) remains the key foreign market for ethyl acetate exports from Malaysia, comprising 67% of total exports. The second position in the ranking was held by Bangladesh ($X), with a 24% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Singapore totaled +21.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (+33.4% per year) and Sri Lanka (+15.1% per year).

Export Prices by Country

In 2021, the average ethyl acetate export price amounted to $X per ton, picking up by 46% against the previous year. In general, the export price, however, saw a mild downturn. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while the average price for exports to Singapore ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Bangladesh (+2.4%), while the prices for the other major destinations experienced more modest paces of growth.

Ethyl Acetate Imports

Imports into Malaysia

Ethyl acetate imports into Malaysia was estimated at X tons in 2021, growing by 11% compared with the previous year's figure. In general, imports showed a resilient expansion. The growth pace was the most rapid in 2014 when imports increased by 174% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, ethyl acetate imports soared to $X in 2021. Overall, imports recorded a buoyant increase. The most prominent rate of growth was recorded in 2014 with an increase of 162%. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), Singapore (X tons) and Saudi Arabia (X tons) were the main suppliers of ethyl acetate imports to Malaysia, with a combined 95% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +19.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest ethyl acetate suppliers to Malaysia were China ($X), Singapore ($X) and Saudi Arabia ($X), together comprising 94% of total imports.

Among the main suppliers, China, with a CAGR of +20.7%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average ethyl acetate import price stood at $X per ton in 2021, with an increase of 47% against the previous year. In general, import price indicated a modest expansion from 2012 to 2021: its price increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, ethyl acetate import price increased by +49.8% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from South Africa ($X per ton) and Singapore ($X per ton), while the price for Saudi Arabia ($X per ton) and India ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+13.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :