Malaysia: Plant-Growth Regulators Market 2024

Plant-Growth Regulators Market Size in Malaysia

For the third consecutive year, the Malaysian plant-growth regulators market recorded growth in sales value, which increased by 3.3% to $X in 2022. Overall, the total consumption indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.4% 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 -8.0% against 2018 indices. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Plant-Growth Regulators Production in Malaysia

In value terms, plant-growth regulators production expanded markedly to $X in 2022 estimated in export price. Over the period under review, the total production indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -7.0% against 2020 indices. The pace of growth appeared the most rapid in 2013 when the production volume increased by 50% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Plant-Growth Regulators Exports

Exports from Malaysia

In 2022, the amount of plant-growth regulators exported from Malaysia rose slightly to X tons, increasing by 2.3% compared with the year before. Over the period under review, total exports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +9.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -8.3% against 2020 indices. The pace of growth appeared the most rapid in 2020 when exports increased by 64% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, plant-growth regulators exports contracted to $X in 2022. Overall, total exports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +9.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +56.8% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 82% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Australia (X tons), China (X tons) and Indonesia (X tons) were the main destinations of plant-growth regulators exports from Malaysia, together comprising 59% of total exports.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +24.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X) remains the key foreign market for plant-growth regulators exports from Malaysia, comprising 35% of total exports. The second position in the ranking was held by China ($X), with a 15% share of total exports. It was followed by Indonesia, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Australia stood at +20.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+4.2% per year) and Indonesia (+18.0% per year).

Export Prices by Country

The average plant-growth regulators export price stood at $X per ton in 2022, declining by -2.9% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 31% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

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 Australia ($X per ton), while the average price for exports to Vietnam ($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 the Philippines (+4.5%), while the prices for the other major destinations experienced more modest paces of growth.

Plant-Growth Regulators Imports

Imports into Malaysia

In 2022, after two years of growth, there was significant decline in supplies from abroad of plant-growth regulators, when their volume decreased by -17.1% to X tons. In general, imports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 110% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then shrank notably in the following year.

In value terms, plant-growth regulators imports reduced notably to $X in 2022. Over the period under review, imports, however, saw a resilient increase. The growth pace was the most rapid in 2014 with an increase of 106%. Imports peaked at $X in 2021, and then dropped significantly in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest plant-growth regulators supplier to Malaysia, accounting for a 63% share of total imports. Moreover, plant-growth regulators imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), sevenfold. Canada (X tons) ranked third in terms of total imports with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +18.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+18.5% per year) and Canada (+2.6% per year).

In value terms, China ($X) constituted the largest supplier of plant-growth regulators to Malaysia, comprising 59% of total imports. The second position in the ranking was held by Indonesia ($X), with a 13% share of total imports. It was followed by Germany, with a 7.2% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +18.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+13.5% per year) and Germany (-8.9% per year).

Import Prices by Country

The average plant-growth regulators import price stood at $X per ton in 2022, dropping by -4.1% against the previous year. Over the period under review, the import price continues to indicate a perceptible slump. The growth pace was the most rapid in 2018 an increase of 22%. The import price peaked at $X per ton in 2012; however, from 2013 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 Germany ($X per ton), while the price for Finland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+2.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform