South-Eastern Asia: Aromatic Alcohols Market 2024

Aromatic Alcohols Market Size in South-Eastern Asia

After two years of decline, the Southeast Asian aromatic alcohols market increased by 19% to $X in 2021. The market value increased at an average annual rate of +1.2% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Aromatic Alcohols Production in South-Eastern Asia

In value terms, aromatic alcohols production totaled $X in 2021 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the production volume increased by 22%. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

Aromatic Alcohols Exports

Exports in South-Eastern Asia

In 2021, after two years of growth, there was significant decline in overseas shipments of aromatic alcohols and their derivatives, when their volume decreased by -85.7% to X tons. In general, exports recorded a deep slump. The growth pace was the most rapid in 2020 when exports increased by 522% against the previous year. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, aromatic alcohols exports dropped dramatically to $X in 2021. Overall, exports recorded a drastic downturn. The most prominent rate of growth was recorded in 2020 with an increase of 120%. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Singapore (X tons) represented the largest exporter of aromatic alcohols and their derivatives, mixing up 73% of total exports. Malaysia (X tons) took a 14% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (6.3%). The following exporters - Indonesia (X tons) and Thailand (X tons) - together made up 7.3% of total exports.

From 2012 to 2021, average annual rates of growth with regard to aromatic alcohols exports from Singapore stood at -16.9%. At the same time, Indonesia (+5.2%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +5.2% from 2012-2021. By contrast, Malaysia (-2.7%), Vietnam (-12.2%) and Thailand (-23.6%) illustrated a downward trend over the same period. While the share of Malaysia (+9.8 p.p.), Indonesia (+3.8 p.p.) and Vietnam (+1.9 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Thailand (-4.2 p.p.) and Singapore (-11.2 p.p.) displayed negative dynamics.

In value terms, Singapore ($X) remains the largest aromatic alcohols supplier in South-Eastern Asia, comprising 75% of total exports. The second position in the ranking was held by Malaysia ($X), with an 11% share of total exports. It was followed by Indonesia, with an 8.2% share.

In Singapore, aromatic alcohols exports plunged by an average annual rate of -14.6% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (-7.6% per year) and Indonesia (+2.9% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, jumping by 170% against the previous year. Over the period under review, the export price recorded a noticeable increase. The level of export peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+18.0%), while the other leaders experienced mixed trends in the export price figures.

Aromatic Alcohols Imports

Imports in South-Eastern Asia

In 2021, aromatic alcohols imports in South-Eastern Asia rose significantly to X tons, picking up by 15% compared with 2020. The total import volume increased at an average annual rate of +1.2% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2014 when imports increased by 21% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, aromatic alcohols imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +4.1% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when imports increased by 29%. The level of import peaked in 2021 and is expected to retain growth in years to come.

Imports by Country

In 2021, Singapore (X tons) was the largest importer of aromatic alcohols and their derivatives, mixing up 43% of total imports. Indonesia (X tons) held the second position in the ranking, followed by Thailand (X tons), Vietnam (X tons) and Malaysia (X tons). All these countries together took near 54% share of total imports. The Philippines (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Indonesia (with a CAGR of +7.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) constitutes the largest market for imported aromatic alcohols and their derivatives in South-Eastern Asia, comprising 44% of total imports. The second position in the ranking was taken by the Philippines ($X), with a 21% share of total imports. It was followed by Indonesia, with an 18% share.

In Singapore, aromatic alcohols imports increased at an average annual rate of +4.3% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: the Philippines (+34.7% per year) and Indonesia (+3.8% per year).

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per ton, remaining constant against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.9%. The pace of growth was the most pronounced in 2019 when the import price increased by 17%. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Philippines ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+33.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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