South-Eastern Asia: O-Acetylsalicylic Acid Market 2024

O-Acetylsalicylic Acid Market Size in South-Eastern Asia

The Southeast Asian o-acetylsalicylic acid market reached $X in 2021, therefore, remained relatively stable against the previous year. The total consumption indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +3.9% 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 decreased by -15.8% against 2017 indices. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

O-Acetylsalicylic Acid Production in South-Eastern Asia

In value terms, o-acetylsalicylic acid production totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.0% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2017 with an increase of 9% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

O-Acetylsalicylic Acid Exports

Exports in South-Eastern Asia

O-acetylsalicylic acid exports expanded modestly to X tons in 2021, growing by 2.5% against the previous year. In general, exports, however, recorded a pronounced downturn. The growth pace was the most rapid in 2018 when exports increased by 14%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, o-acetylsalicylic acid exports contracted slightly to $X in 2021. Overall, exports, however, continue to indicate a pronounced setback. The pace of growth appeared the most rapid in 2018 when exports increased by 19% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Thailand (X tons) was the key exporter of o-acetylsalicylic acid, its salts and esters in South-Eastern Asia, mixing up 100% of total export.

Thailand was also the fastest-growing in terms of the o-acetylsalicylic acid, its salts and esters exports, with a CAGR of -3.9% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) also remains the largest o-acetylsalicylic acid supplier in South-Eastern Asia.

In Thailand, o-acetylsalicylic acid exports declined by an average annual rate of -3.8% over the period from 2012-2021.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, declining by -5.5% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 18% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Thailand.

From 2012 to 2021, the rate of growth in terms of prices for Thailand amounted to +0.0% per year.

O-Acetylsalicylic Acid Imports

Imports in South-Eastern Asia

In 2021, purchases abroad of o-acetylsalicylic acid, its salts and esters increased by 11% to X tons, rising for the third year in a row after six years of decline. In general, imports, however, continue to indicate a pronounced reduction. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, o-acetylsalicylic acid imports stood at $X in 2021. Overall, imports, however, recorded a perceptible decrease. The growth pace was the most rapid in 2019 when imports increased by 17% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

Indonesia represented the key importing country with an import of around X tons, which resulted at 46% of total imports. It was distantly followed by Malaysia (X tons), Thailand (X tons) and Vietnam (X tons), together mixing up a 50% share of total imports. The Philippines (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to o-acetylsalicylic acid imports into Indonesia stood at -3.7%. At the same time, Malaysia (+16.6%), the Philippines (+14.7%) and Vietnam (+10.9%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +16.6% from 2012-2021. By contrast, Thailand (-6.0%) illustrated a downward trend over the same period. While the share of Malaysia (+18 p.p.), Vietnam (+8.8 p.p.) and the Philippines (+1.7 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Indonesia (-4.4 p.p.) and Thailand (-5.3 p.p.) displayed negative dynamics.

In value terms, Indonesia ($X) constitutes the largest market for imported o-acetylsalicylic acid, its salts and esters in South-Eastern Asia, comprising 45% of total imports. The second position in the ranking was held by Malaysia ($X), with a 22% share of total imports. It was followed by Thailand, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Indonesia stood at -3.3%. The remaining importing countries recorded the following average annual rates of imports growth: Malaysia (+18.7% per year) and Thailand (-7.4% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2021, with a decrease of -6.8% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 7.6% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in the Philippines ($X per ton) and Thailand ($X per ton), while Vietnam ($X per ton) and Malaysia ($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 (+3.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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