South-Eastern Asia: Octyl Alcohol Market 2024

Octyl Alcohol Market Size in South-Eastern Asia

The Southeast Asian octyl alcohol market declined slightly to $X in 2022, stabilizing at the previous year. The total consumption indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +7.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -2.3% against 2019 indices. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Octyl Alcohol Production in South-Eastern Asia

In value terms, octyl alcohol production shrank slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 19% against the previous year. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Octyl Alcohol Exports

Exports in South-Eastern Asia

In 2022, octyl alcohol exports in South-Eastern Asia shrank remarkably to X tons, falling by -29.7% compared with the previous year's figure. Over the period under review, exports saw a pronounced decline. The pace of growth was the most pronounced in 2019 with an increase of 16% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, octyl alcohol exports fell markedly to $X in 2022. In general, exports saw a perceptible shrinkage. The pace of growth appeared the most rapid in 2021 when exports increased by 57%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Indonesia represented the largest exporting country with an export of about X tons, which reached 62% of total exports. It was distantly followed by Malaysia (X tons), creating a 28% share of total exports. Thailand (X tons), Singapore (X tons) and the Philippines (X tons) followed a long way behind the leaders.

Exports from Indonesia decreased at an average annual rate of -2.9% from 2012 to 2022. At the same time, the Philippines (+26.2%) and Thailand (+4.3%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +26.2% from 2012-2022. By contrast, Malaysia (-5.6%) and Singapore (-15.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Indonesia, Thailand and the Philippines increased by +8.5, +2.4 and +2 percentage points, respectively.

In value terms, Indonesia ($X) remains the largest octyl alcohol supplier in South-Eastern Asia, comprising 66% of total exports. The second position in the ranking was held by Malaysia ($X), with a 22% share of total exports. It was followed by Singapore, with a 5.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Indonesia totaled -1.5%. In the other countries, the average annual rates were as follows: Malaysia (-6.9% per year) and Singapore (-10.8% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, picking up by 18% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the export price increased by 42%. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

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 2022, the most notable rate of growth in terms of prices was attained by Singapore (+5.7%), while the other leaders experienced more modest paces of growth.

Octyl Alcohol Imports

Imports in South-Eastern Asia

In 2022, imports of octanol (octyl alcohol) and isomers thereof in South-Eastern Asia fell remarkably to X tons, dropping by -24.4% on 2021 figures. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 36% against the previous year. As a result, imports attained the peak of X tons, and then declined sharply in the following year.

In value terms, octyl alcohol imports dropped dramatically to $X in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 114% against the previous year. As a result, imports reached the peak of $X, and then fell remarkably in the following year.

Imports by Country

Vietnam represented the key importer of octanol (octyl alcohol) and isomers thereof in South-Eastern Asia, with the volume of imports accounting for X tons, which was near 46% of total imports in 2022. It was distantly followed by Thailand (X tons), Singapore (X tons) and Indonesia (X tons), together achieving a 50% share of total imports. Malaysia (X tons) took a relatively small share of total imports.

Imports into Vietnam increased at an average annual rate of +3.8% from 2012 to 2022. At the same time, Singapore (+16.5%), Malaysia (+7.4%) and Thailand (+1.4%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +16.5% from 2012-2022. By contrast, Indonesia (-14.3%) illustrated a downward trend over the same period. While the share of Vietnam (+17 p.p.), Singapore (+15 p.p.), Thailand (+3.9 p.p.) and Malaysia (+2 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Indonesia (-37.4 p.p.) displayed negative dynamics.

In value terms, Vietnam ($X), Singapore ($X) and Thailand ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 84% share of total imports.

Singapore, with a CAGR of +17.9%, saw the highest growth rate of the value of imports, among 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

In 2022, the import price in South-Eastern Asia amounted to $X per ton, reducing by -1.8% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the import price increased by 57%. As a result, import price attained the peak level of $X per ton, and then declined modestly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+1.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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