South-Eastern Asia: Insecticide Market 2024

Insecticide Market Size in South-Eastern Asia

For the sixth year in a row, the Southeast Asian insecticide market recorded growth in sales value, which increased by 18% to $X in 2021. The total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +8.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +105.5% against 2015 indices. Over the period under review, the market reached the maximum level in 2021 and is likely to continue growth in the immediate term.

Insecticide Production in South-Eastern Asia

In value terms, insecticide production totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when the production volume increased by 46% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Insecticide Exports

Exports in South-Eastern Asia

In 2021, the amount of insecticides exported in South-Eastern Asia rose sharply to X tons, growing by 11% on 2020. The total export volume increased at an average annual rate of +2.5% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2020 with an increase of 16%. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, insecticide exports surged to $X in 2021. Total exports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +9.4% 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 +13.7% against 2017 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 40%. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Exports by Country

Indonesia was the key exporter of insecticides in South-Eastern Asia, with the volume of exports recording X tons, which was approx. 49% of total exports in 2021. Malaysia (X tons) held the second position in the ranking, distantly followed by Thailand (X tons), Singapore (X tons) and Vietnam (X tons). All these countries together took near 50% share of total exports.

Exports from Indonesia increased at an average annual rate of +1.5% from 2012 to 2021. At the same time, Thailand (+10.2%), Singapore (+8.9%) and Vietnam (+3.9%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +10.2% from 2012-2021. Malaysia experienced a relatively flat trend pattern. Thailand (+6 p.p.) and Singapore (+4.1 p.p.) significantly strengthened its position in terms of the total exports, while Indonesia and Malaysia saw its share reduced by -4.9% and -6.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X), Indonesia ($X) and Malaysia ($X) constituted the countries with the highest levels of exports in 2021, together accounting for 90% of total exports.

Singapore, with a CAGR of +21.2%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, picking up by 4.2% against the previous year. Export price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +6.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, insecticide export price decreased by -10.0% against 2019 indices. The pace of growth was the most pronounced in 2017 when the export price increased by 37%. Over the period under review, the export prices hit record highs 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 Singapore ($X per ton), while Malaysia ($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 (+11.3%), while the other leaders experienced more modest paces of growth.

Insecticide Imports

Imports in South-Eastern Asia

In 2021, supplies from abroad of insecticides increased by 18% to X tons, rising for the second year in a row after two years of decline. Overall, imports showed a prominent expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 46% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, insecticide imports rose markedly to $X in 2021. Total imports indicated a strong increase from 2012 to 2021: its value 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 decreased by -0.8% against 2019 indices. The pace of growth appeared the most rapid in 2013 with an increase of 29% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

The purchases of the six major importers of insecticides, namely Thailand, Vietnam, the Philippines, Indonesia, Malaysia and Cambodia, represented more than two-thirds of total import. It was distantly followed by Myanmar (X tons), mixing up a 6.1% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Cambodia (with a CAGR of +33.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest insecticide importing markets in South-Eastern Asia were Indonesia ($X), Vietnam ($X) and the Philippines ($X), with a combined 75% share of total imports. These countries were followed by Malaysia, Cambodia and Myanmar, which together accounted for a further 18%.

Among the main importing countries, Cambodia, with a CAGR of +30.5%, 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 2021, the import price in South-Eastern Asia amounted to $X per ton, declining by -2.5% against the previous year. Over the period under review, the import price recorded a pronounced setback. The growth pace was the most rapid in 2018 when the import price increased by 15%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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 Indonesia ($X per ton), while Myanmar ($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 (+8.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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