South-Eastern Asia: Herbicide Market 2024

Herbicide Market Size in South-Eastern Asia

The Southeast Asian herbicide market skyrocketed to $X in 2021, jumping by 15% against the previous year. The market value increased at an average annual rate of +1.8% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Herbicide Production in South-Eastern Asia

In value terms, herbicide production amounted to $X in 2021 estimated in export price. The total production indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -8.0% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 48% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2021, production growth remained at a somewhat lower figure.

Herbicide Exports

Exports in South-Eastern Asia

In 2021, the amount of herbicides exported in South-Eastern Asia contracted to X tons, with a decrease of -3.3% against the year before. Total exports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +7.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +41.7% against 2019 indices. The growth pace was the most rapid in 2020 when exports increased by 47% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, herbicide exports expanded markedly to $X in 2021. Total exports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +7.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +42.0% against 2019 indices. The growth pace was the most rapid in 2013 with an increase of 78% against the previous year. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Malaysia was the largest exporting country with an export of around X tons, which accounted for 72% of total exports. Indonesia (X tons) held a 14% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (7.9%) and Singapore (4.7%).

From 2012 to 2021, average annual rates of growth with regard to herbicide exports from Malaysia stood at +9.8%. At the same time, Indonesia (+15.6%) and Vietnam (+12.2%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +15.6% from 2012-2021. By contrast, Singapore (-11.0%) illustrated a downward trend over the same period. While the share of Malaysia (+14 p.p.), Indonesia (+6.7 p.p.) and Vietnam (+2.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Singapore (-20.3 p.p.) displayed negative dynamics.

In value terms, the largest herbicide supplying countries in South-Eastern Asia were Malaysia ($X), Indonesia ($X) and Vietnam ($X), with a combined 93% share of total exports.

In terms of the main exporting countries, Indonesia, with a CAGR of +14.9%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, surging by 15% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the export price increased by 22% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+2.9%), while the other leaders experienced mixed trends in the export price figures.

Herbicide Imports

Imports in South-Eastern Asia

After three years of decline, overseas purchases of herbicides increased by 27% to X tons in 2021. Total imports indicated mild growth from 2012 to 2021: its volume increased at an average annual rate of +1.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 31% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, herbicide imports skyrocketed to $X in 2021. Over the period under review, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by 51%. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Thailand (X tons), distantly followed by Indonesia (X tons), the Philippines (X tons), Cambodia (X tons), Vietnam (X tons) and Malaysia (X tons) were the largest importers of herbicides, together comprising 98% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Cambodia (with a CAGR of +48.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Vietnam ($X) and the Philippines ($X) were the countries with the highest levels of imports in 2021, together accounting for 70% of total imports. Malaysia and Cambodia lagged somewhat behind, together accounting for a further 27%.

Among the main importing countries, Cambodia, with a CAGR of +50.9%, saw 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 2021, the import price in South-Eastern Asia amounted to $X per ton, rising by 17% against the previous year. Overall, the import price, however, continues to indicate a slight decrease. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Vietnam ($X per ton), while Cambodia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+11.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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