South-Eastern Asia: Ethyl Acetate Market 2024

Ethyl Acetate Market Size in South-Eastern Asia

In 2021, the Southeast Asian ethyl acetate market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. The total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Ethyl Acetate Production in South-Eastern Asia

In value terms, ethyl acetate production expanded markedly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the production volume increased by 23%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Ethyl Acetate Exports

Exports in South-Eastern Asia

In 2021, shipments abroad of ethyl acetate increased by 14% to X tons, rising for the third year in a row after two years of decline. The total export volume increased at an average annual rate of +5.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2015 with an increase of 15% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to see gradual growth in the near future.

In value terms, ethyl acetate exports surged to $X in 2021. In general, exports enjoyed a prominent increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Singapore prevails in exports structure, accounting for X tons, which was near 95% of total exports in 2021. Malaysia (X tons) took a minor share of total exports.

From 2012 to 2021, average annual rates of growth with regard to ethyl acetate exports from Singapore stood at +4.7%. At the same time, Malaysia (+18.4%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +18.4% from 2012-2021. While the share of Malaysia (+2.3 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Singapore (-3.5 p.p.) displayed negative dynamics.

In value terms, Singapore ($X) remains the largest ethyl acetate supplier in South-Eastern Asia, comprising 94% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 3.8% share of total exports.

In Singapore, ethyl acetate exports increased at an average annual rate of +7.1% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per ton, with an increase of 61% against the previous year. Export price indicated a noticeable increase from 2012 to 2021: its price increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+2.3%).

Ethyl Acetate Imports

Imports in South-Eastern Asia

In 2021, approx. X tons of ethyl acetate were imported in South-Eastern Asia; surging by 5.6% against the previous year's figure. Total imports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +6.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +16.6% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 25%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, ethyl acetate imports skyrocketed to $X in 2021. Over the period under review, imports saw prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the four major importers of ethyl acetate, namely Indonesia, Vietnam, Thailand and Malaysia, represented more than two-thirds of total import. It was distantly followed by the Philippines (X tons), constituting an 8.4% share of total imports. Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +11.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Vietnam ($X) and Thailand ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 74% share of total imports.

Indonesia, with a CAGR of +13.4%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2021, increasing by 47% against the previous year. Over the last nine years, it increased at an average annual rate of +1.6%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Singapore ($X per ton) and Thailand ($X per ton), while Malaysia ($X per ton) and Vietnam ($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 (+2.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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