South-Eastern Asia: Acetone Market 2024

Acetone Market Size in South-Eastern Asia

The Southeast Asian acetone market fell modestly to $X in 2021, with a decrease of -4.3% against the previous year. Over the period under review, consumption saw a slight shrinkage. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Acetone Production in South-Eastern Asia

In value terms, acetone production expanded markedly to $X in 2021 estimated in export price. Overall, production saw strong growth. The pace of growth was the most pronounced in 2016 with an increase of 45% against the previous year. The level of production peaked in 2021 and is likely to continue growth in the immediate term.

Acetone Exports

Exports in South-Eastern Asia

In 2021, acetone exports in South-Eastern Asia totaled X tons, increasing by 6% against the previous year's figure. Total exports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +20.3% against 2019 indices. The most prominent rate of growth was recorded in 2016 with an increase of 36%. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, acetone exports soared to $X in 2021. In general, exports recorded a noticeable increase. The most prominent rate of growth was recorded in 2020 when exports increased by 66% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in years to come.

Exports by Country

In 2021, Thailand (X tons) and Singapore (X tons) represented the major exporter of acetone in South-Eastern Asia, mixing up 100% of total export.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Thailand (with a CAGR of +11.9%).

In value terms, Thailand ($X) and Singapore ($X) were the countries with the highest levels of exports in 2021.

Thailand, with a CAGR of +9.3%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per ton, with an increase of 18% against the previous year. Overall, the export price, however, continues to indicate a slight setback. The most prominent rate of growth was recorded in 2020 an increase of 46%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Thailand stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (-1.0%).

Acetone Imports

Imports in South-Eastern Asia

In 2021, supplies from abroad of acetone was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 6.9% against the previous year. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, acetone imports skyrocketed to $X in 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by 41%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Thailand represented the main importing country with an import of around X tons, which amounted to 42% of total imports. Vietnam (X tons) ranks second in terms of the total imports with a 19% share, followed by Indonesia (18%), Malaysia (11%), Singapore (5.2%) and the Philippines (4.7%).

From 2012 to 2021, average annual rates of growth with regard to acetone imports into Thailand stood at -2.9%. At the same time, Vietnam (+12.5%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +12.5% from 2012-2021. The Philippines and Indonesia experienced a relatively flat trend pattern. By contrast, Malaysia (-1.6%) and Singapore (-4.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Vietnam increased by +13 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) constitutes the largest market for imported acetone in South-Eastern Asia, comprising 42% of total imports. The second position in the ranking was held by Vietnam ($X), with an 18% share of total imports. It was followed by Indonesia, with a 17% share.

From 2012 to 2021, the average annual growth rate of value in Thailand amounted to -2.3%. In the other countries, the average annual rates were as follows: Vietnam (+11.5% per year) and Indonesia (-1.0% per year).

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per ton, jumping by 30% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the import price increased by 36%. Over the period under review, import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Malaysia ($X per ton) and Singapore ($X per ton), while Vietnam ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+4.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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