South-Eastern Asia: Plant-Growth Regulators Market 2024

Plant-Growth Regulators Market Size in South-Eastern Asia

The Southeast Asian plant-growth regulators market contracted to $X in 2022, waning by -14.9% against the previous year. Over the period under review, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then shrank in the following year.

Plant-Growth Regulators Production in South-Eastern Asia

In value terms, plant-growth regulators production contracted modestly to $X in 2022 estimated in export price. The total production indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -11.4% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 47% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Plant-Growth Regulators Exports

Exports in South-Eastern Asia

In 2022, the amount of plant-growth regulators exported in South-Eastern Asia amounted to X tons, surging by 12% against 2021 figures. Total exports indicated a remarkable increase from 2012 to 2022: its volume 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, exports increased by +59.0% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of 49%. The volume of export peaked at X tons in 2017; afterwards, it flattened through to 2022.

In value terms, plant-growth regulators exports stood at $X in 2022. Total exports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +8.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +65.7% against 2019 indices. The growth pace was the most rapid in 2013 with an increase of 78%. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the immediate term.

Exports by Country

In 2022, Malaysia (X tons) represented the major exporter of plant-growth regulators, constituting 66% of total exports. Indonesia (X tons) took a 22% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (6.1%) and Singapore (4.7%).

Exports from Malaysia increased at an average annual rate of +9.0% from 2012 to 2022. At the same time, Indonesia (+20.6%) and Vietnam (+9.2%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +20.6% from 2012-2022. By contrast, Singapore (-8.6%) illustrated a downward trend over the same period. Indonesia (+15 p.p.) and Malaysia (+7 p.p.) significantly strengthened its position in terms of the total exports, while Singapore saw its share reduced by -19.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest plant-growth regulators supplying countries in South-Eastern Asia were Malaysia ($X), Indonesia ($X) and Vietnam ($X), together accounting for 90% of total exports.

Among the main exporting countries, Indonesia, with a CAGR of +17.6%, recorded 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 2022, rising by 2.2% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the export price increased by 22% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Malaysia ($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 (+4.1%), while the other leaders experienced mixed trends in the export price figures.

Plant-Growth Regulators Imports

Imports in South-Eastern Asia

In 2022, imports of plant-growth regulators in South-Eastern Asia declined to X tons, with a decrease of -7.7% on the previous year. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 31% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, plant-growth regulators imports rose notably to $X in 2022. Total imports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +56.0% against 2020 indices. The growth pace was the most rapid in 2017 with an increase of 51%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

Thailand represented the largest importer of plant-growth regulators in South-Eastern Asia, with the volume of imports reaching X tons, which was near 40% of total imports in 2022. It was distantly followed by Indonesia (X tons), the Philippines (X tons), Vietnam (X tons), Malaysia (X tons) and Cambodia (X tons), together constituting a 56% share of total imports. Myanmar (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to plant-growth regulators imports into Thailand stood at -2.1%. At the same time, Myanmar (+76.7%), Cambodia (+36.1%), Malaysia (+12.5%), the Philippines (+7.4%) and Indonesia (+3.7%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +76.7% from 2012-2022. By contrast, Vietnam (-8.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the Philippines, Cambodia, Malaysia, Indonesia and Myanmar increased by +13, +7.7, +5.8, +3.7 and +2.1 percentage points, respectively.

In value terms, Thailand ($X) constitutes the largest market for imported plant-growth regulators in South-Eastern Asia, comprising 41% of total imports. The second position in the ranking was held by Indonesia ($X), with a 19% share of total imports. It was followed by Vietnam, with a 14% share.

In Thailand, plant-growth regulators imports expanded at an average annual rate of +2.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Indonesia (+7.4% per year) and Vietnam (+0.1% per year).

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, rising by 15% against the previous year. Import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plant-growth regulators import price increased by +86.8% against 2016 indices. The pace of growth was the most pronounced in 2021 when the import price increased by 18% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: 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 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+10.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform