South-Eastern Asia: Polycarboxylic Acid Market 2024

Polycarboxylic Acid Market Size in South-Eastern Asia

The Southeast Asian polycarboxylic acid market contracted to $X in 2022, reducing by -9.9% against the previous year. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Polycarboxylic Acid Production in South-Eastern Asia

In value terms, polycarboxylic acid production dropped to $X in 2022 estimated in export price. Overall, production showed a perceptible reduction. The most prominent rate of growth was recorded in 2018 when the production volume increased by 17%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Polycarboxylic Acid Exports

Exports in South-Eastern Asia

In 2022, approx. X tons of polycarboxylic acids were exported in South-Eastern Asia; surging by 6.4% on the previous year. Overall, exports, however, saw a slight decrease. The pace of growth was the most pronounced in 2017 with an increase of 7.6%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, polycarboxylic acid exports surged to $X in 2022. Over the period under review, exports, however, saw a pronounced decrease. The most prominent rate of growth was recorded in 2021 when exports increased by 38% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Thailand (X tons) was the key exporter of polycarboxylic acids, making up 73% of total exports. It was distantly followed by Malaysia (X tons) and Indonesia (X tons), together constituting a 25% share of total exports. Vietnam (X tons) followed a long way behind the leaders.

Exports from Thailand decreased at an average annual rate of -2.4% from 2012 to 2022. At the same time, Vietnam (+21.1%) and Indonesia (+8.2%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +21.1% from 2012-2022. Malaysia experienced a relatively flat trend pattern. From 2012 to 2022, the share of Indonesia increased by +7.3 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest polycarboxylic acid supplier in South-Eastern Asia, comprising 71% of total exports. The second position in the ranking was held by Malaysia ($X), with a 14% share of total exports. It was followed by Indonesia, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Thailand stood at -4.8%. In the other countries, the average annual rates were as follows: Malaysia (-3.8% per year) and Indonesia (+4.6% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, surging by 17% against the previous year. In general, the export price, however, saw a perceptible decline. The most prominent rate of growth was recorded in 2021 when the export price increased by 34% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, 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 Vietnam ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (-0.4%), while the other leaders experienced a decline in the export price figures.

Polycarboxylic Acid Imports

Imports in South-Eastern Asia

In 2022, overseas purchases of polycarboxylic acids decreased by -5.6% to X tons, falling for the second year in a row after five years of growth. Total imports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -14.2% against 2020 indices. The growth pace was the most rapid in 2016 when imports increased by 39% against the previous year. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, polycarboxylic acid imports dropped to $X in 2022. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 27%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Vietnam (X tons) was the major importer of polycarboxylic acids, creating 61% of total imports. Malaysia (X tons) held the second position in the ranking, followed by Singapore (X tons), Thailand (X tons) and Indonesia (X tons). All these countries together took approx. 36% share of total imports. The Philippines (X tons) held a minor share of total imports.

Vietnam was also the fastest-growing in terms of the polycarboxylic acids imports, with a CAGR of +10.8% from 2012 to 2022. At the same time, Thailand (+1.4%) displayed positive paces of growth. Singapore and the Philippines experienced a relatively flat trend pattern. By contrast, Malaysia (-1.6%) and Indonesia (-6.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Vietnam increased by +29 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) constitutes the largest market for imported polycarboxylic acids in South-Eastern Asia, comprising 43% of total imports. The second position in the ranking was taken by Singapore ($X), with a 16% share of total imports. It was followed by Thailand, with a 15% share.

In Vietnam, polycarboxylic acid imports increased at an average annual rate of +4.9% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Singapore (+1.1% per year) and Thailand (+1.3% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2022, standing approx. at the previous year. Overall, the import price showed a noticeable slump. The growth pace was the most rapid in 2021 when the import price increased by 32%. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while Vietnam ($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 (+2.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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