South-Eastern Asia: Butanone Market 2024

Butanone Market Size in South-Eastern Asia

For the third consecutive year, the Southeast Asian butanone market recorded growth in sales value, which increased by 3% to $X in 2022. The total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +7.3% against 2018 indices. The level of consumption peaked in 2022 and is likely to see gradual growth in years to come.

Butanone Production in South-Eastern Asia

In value terms, butanone production totaled $X in 2022 estimated in export price. Over the period under review, production showed prominent growth. The growth pace was the most rapid in 2020 when the production volume increased by 100%. The level of production peaked in 2022 and is likely to see gradual growth in the immediate term.

Butanone Exports

Exports in South-Eastern Asia

In 2022, butanone exports in South-Eastern Asia stood at X tons, picking up by 1.7% against the previous year. In general, exports, however, saw a abrupt decline. The most prominent rate of growth was recorded in 2016 with an increase of 49%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, butanone exports rose rapidly to $X in 2022. Overall, exports, however, saw a deep reduction. The pace of growth was the most pronounced in 2021 with an increase of 27% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Singapore represented the main exporting country with an export of around X tons, which resulted at 82% of total exports. It was distantly followed by Vietnam (X tons), committing a 15% share of total exports. Thailand (X tons) followed a long way behind the leaders.

Exports from Singapore decreased at an average annual rate of -13.9% from 2012 to 2022. At the same time, Vietnam (+66.8%) and Thailand (+19.3%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +66.8% from 2012-2022. Vietnam (+15 p.p.) and Thailand (+1.8 p.p.) significantly strengthened its position in terms of the total exports, while Singapore saw its share reduced by -12.3% from 2012 to 2022, respectively.

In value terms, Singapore ($X) remains the largest butanone supplier in South-Eastern Asia, comprising 91% of total exports. The second position in the ranking was held by Vietnam ($X), with a 7.3% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Singapore amounted to -7.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (+65.5% per year) and Thailand (+12.7% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, picking up by 5% against the previous year. Export price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butanone export price increased by +17.2% against 2018 indices. The growth pace was the most rapid in 2017 when the export price increased by 40% against the previous year. Over the period under review, the export prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+7.2%), while the other leaders experienced a decline in the export price figures.

Butanone Imports

Imports in South-Eastern Asia

After ten years of growth, purchases abroad of butanone (methyl ethyl ketone) decreased by -7.3% to X tons in 2022. Total imports indicated pronounced growth from 2012 to 2022: its volume increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when imports increased by 13%. Over the period under review, imports hit record highs at X tons in 2021, and then fell in the following year.

In value terms, butanone imports expanded remarkably to $X in 2022. Total imports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +7.6% against 2018 indices. The pace of growth was the most pronounced in 2018 with an increase of 34%. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in the near future.

Imports by Country

Vietnam (X tons) and Indonesia (X tons) represented roughly 57% of total imports in 2022. Thailand (X tons) ranks next in terms of the total imports with a 17% share, followed by Malaysia (11%), Singapore (7%) and the Philippines (6.9%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Vietnam (with a CAGR of +14.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Indonesia ($X) and Thailand ($X) were the countries with the highest levels of imports in 2022, together comprising 73% of total imports. Malaysia, the Philippines and Singapore lagged somewhat behind, together comprising a further 27%.

In terms of the main importing countries, the Philippines, with a CAGR of +12.4%, recorded 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

In 2022, the import price in South-Eastern Asia amounted to $X per ton, picking up by 20% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by 30% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Philippines ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+6.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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