Malaysia: Odoriferous Substance Mixture Market 2024

Odoriferous Substance Mixture Market Size in Malaysia

The Malaysian odoriferous substance mixture market rose sharply to $X in 2022, surging by 9.3% against the previous year. Over the period under review, the total consumption indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -10.4% against 2020 indices. Odoriferous substance mixture consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Odoriferous Substance Mixture Production in Malaysia

In value terms, odoriferous substance mixture production rose rapidly to $X in 2022 estimated in export price. Overall, production showed a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of 115%. Odoriferous substance mixture production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Odoriferous Substance Mixture Exports

Exports from Malaysia

In 2022, odoriferous substance mixture exports from Malaysia shrank to X tons, with a decrease of -9.1% against 2021. In general, exports, however, saw a prominent increase. The most prominent rate of growth was recorded in 2017 when exports increased by 66% against the previous year. The exports peaked at X tons in 2021, and then fell in the following year.

In value terms, odoriferous substance mixture exports declined to $X in 2022. Over the period under review, exports, however, saw a significant increase. The pace of growth appeared the most rapid in 2018 with an increase of 125% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Thailand (X tons), South Korea (X tons) and Vietnam (X tons) were the main destinations of odoriferous substance mixture exports from Malaysia, together accounting for 35% of total exports. Indonesia, Singapore, Taiwan (Chinese), Russia, Bangladesh, Mexico, China, Brazil, Nigeria and the Philippines lagged somewhat behind, together comprising a further 45%.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +75.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), South Korea ($X) and Mexico ($X) appeared to be the largest markets for odoriferous substance mixture exported from Malaysia worldwide, with a combined 35% share of total exports.

In terms of the main countries of destination, Russia, with a CAGR of +108.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average odoriferous substance mixture export price stood at $X per ton in 2022, flattening at the previous year. In general, the export price, however, continues to indicate a resilient expansion. The growth pace was the most rapid in 2018 when the average export price increased by 82%. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 Russia (+20.4%), while the prices for the other major destinations experienced more modest paces of growth.

Odoriferous Substance Mixture Imports

Imports into Malaysia

In 2022, approx. X tons of mixtures of odoriferous substances and their preparations were imported into Malaysia; waning by -5.3% on 2021 figures. The total import volume increased at an average annual rate of +2.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when imports increased by 17%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, odoriferous substance mixture imports declined to $X in 2022. The total import value increased at an average annual rate of +3.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 15% against the previous year. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Singapore (X tons) constituted the largest odoriferous substance mixture supplier to Malaysia, with a 56% share of total imports. Moreover, odoriferous substance mixture imports from Singapore exceeded the figures recorded by the second-largest supplier, Thailand (X tons), tenfold. The third position in this ranking was taken by China (X tons), with a 5.2% share.

From 2012 to 2022, the average annual growth rate of volume from Singapore amounted to +4.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+16.3% per year) and China (+4.7% per year).

In value terms, Singapore ($X) constituted the largest supplier of mixtures of odoriferous substances and their preparations to Malaysia, comprising 62% of total imports. The second position in the ranking was held by Indonesia ($X), with a 5% share of total imports. It was followed by Hong Kong SAR, with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Singapore totaled +5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+10.3% per year) and Hong Kong SAR (-3.5% per year).

Import Prices by Country

In 2022, the average odoriferous substance mixture import price amounted to $X per ton, rising by 3.1% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The pace of growth was the most pronounced in 2020 when the average import price increased by 18%. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the average 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 Germany ($X per ton), while the price for Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+20.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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