South-Eastern Asia: Maleic Anhydride Market 2024

Maleic Anhydride Market Size in South-Eastern Asia

The Southeast Asian maleic anhydride market stood at $X in 2021, stabilizing at the previous year. The total consumption indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +57.0% against 2019 indices. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Maleic Anhydride Production in South-Eastern Asia

In value terms, maleic anhydride production reduced to $X in 2021 estimated in export price. In general, production recorded a perceptible contraction. The growth pace was the most rapid in 2017 with an increase of 16% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Maleic Anhydride Exports

Exports in South-Eastern Asia

In 2021, shipments abroad of maleic anhydride was finally on the rise to reach X tons after three years of decline. Total exports indicated a notable expansion from 2012 to 2021: its volume increased at an average annual rate of +2.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, maleic anhydride exports skyrocketed to $X in 2021. Overall, exports continue to indicate moderate growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Malaysia represented the major exporter of maleic anhydride in South-Eastern Asia, with the volume of exports finishing at X tons, which was approx. 88% of total exports in 2021. It was distantly followed by Indonesia (X tons), generating a 12% share of total exports.

Malaysia was also the fastest-growing in terms of the maleic anhydride exports, with a CAGR of +3.8% from 2012 to 2021. Indonesia (-4.9%) illustrated a downward trend over the same period. Malaysia (+11 p.p.) significantly strengthened its position in terms of the total exports, while Indonesia saw its share reduced by -10.7% from 2012 to 2021, respectively.

In value terms, Malaysia ($X) remains the largest maleic anhydride supplier in South-Eastern Asia, comprising 88% of total exports. The second position in the ranking was held by Indonesia ($X), with a 12% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Malaysia totaled +4.3%.

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per ton, picking up by 69% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. Over the period under review, the export prices hit record highs at $X per ton in 2013; afterwards, it flattened through to 2021.

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 Indonesia totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+0.5%).

Maleic Anhydride Imports

Imports in South-Eastern Asia

Maleic anhydride imports rose notably to X tons in 2021, picking up by 13% compared with 2020. Total imports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +6.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +32.5% against 2019 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 17% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, maleic anhydride imports soared to $X in 2021. Total imports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +5.1% 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 +86.2% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Singapore was the largest importing country with an import of around X tons, which resulted at 44% of total imports. Malaysia (X tons) held the second position in the ranking, distantly followed by Thailand (X tons), Indonesia (X tons) and Vietnam (X tons). All these countries together held near 53% share of total imports. The Philippines (X tons) followed a long way behind the leaders.

Imports into Singapore increased at an average annual rate of +7.3% from 2012 to 2021. At the same time, Vietnam (+17.4%), the Philippines (+12.1%), Malaysia (+8.6%) and Indonesia (+7.4%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +17.4% from 2012-2021. By contrast, Thailand (-2.4%) illustrated a downward trend over the same period. Vietnam (+5.7 p.p.), Malaysia (+3.6 p.p.) and Singapore (+2.9 p.p.) significantly strengthened its position in terms of the total imports, while Thailand saw its share reduced by -14.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) constitutes the largest market for imported maleic anhydride in South-Eastern Asia, comprising 44% of total imports. The second position in the ranking was held by Malaysia ($X), with a 19% share of total imports. It was followed by Thailand, with a 12% share.

In Singapore, maleic anhydride imports expanded at an average annual rate of +6.1% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Malaysia (+5.1% per year) and Thailand (-2.9% per year).

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per ton, growing by 58% against the previous year. Overall, the import price, however, showed a slight shrinkage. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in the Philippines ($X per ton) and Vietnam ($X per ton), while Malaysia ($X per ton) and Singapore ($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 (+0.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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