Southern Asia: Aromatic Alcohols Market 2024

Aromatic Alcohols Market Size in Southern Asia

In 2021, the South Asian aromatic alcohols market decreased by -10.7% to $X, falling for the third consecutive year after three years of growth. Over the period under review, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Aromatic Alcohols Production in Southern Asia

In value terms, aromatic alcohols production rose significantly to $X in 2021 estimated in export price. The total production indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -17.5% against 2018 indices. The most prominent rate of growth was recorded in 2018 with an increase of 40% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Aromatic Alcohols Exports

Exports in Southern Asia

In 2021, aromatic alcohols exports in Southern Asia skyrocketed to X tons, jumping by 16% against 2020. In general, exports showed resilient growth. The most prominent rate of growth was recorded in 2015 with an increase of 36% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to see steady growth in the near future.

In value terms, aromatic alcohols exports soared to $X in 2021. Over the period under review, exports posted a prominent increase. The most prominent rate of growth was recorded in 2018 with an increase of 49%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The biggest shipments were from India (X tons), together resulting at 100% of total export.

India was also the fastest-growing in terms of the aromatic alcohols and their derivatives exports, with a CAGR of +11.3% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest aromatic alcohols supplier in Southern Asia.

In India, aromatic alcohols exports increased at an average annual rate of +9.5% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per ton, remaining relatively unchanged against the previous year. Overall, the export price, however, showed a mild setback. The pace of growth was the most pronounced in 2018 when the export price increased by 35%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the export prices remained at a somewhat lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for India amounted to -1.6% per year.

Aromatic Alcohols Imports

Imports in Southern Asia

Aromatic alcohols imports totaled X tons in 2021, increasing by 6.3% compared with the year before. Over the period under review, imports, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2019 when imports increased by 19% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, aromatic alcohols imports soared to $X in 2021. In general, imports continue to indicate a remarkable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

India dominates imports structure, amounting to X tons, which was near 81% of total imports in 2021. Pakistan (X tons) ranks second in terms of the total imports with a 9% share, followed by Bangladesh (6.9%). Sri Lanka (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to aromatic alcohols imports into India stood at -7.2%. At the same time, Bangladesh (+15.1%), Sri Lanka (+4.0%) and Pakistan (+3.2%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +15.1% from 2012-2021. Bangladesh (+5.8 p.p.), Pakistan (+5 p.p.) and Sri Lanka (+1.5 p.p.) significantly strengthened its position in terms of the total imports, while India saw its share reduced by -12.1% from 2012 to 2021, respectively.

In value terms, India ($X) constitutes the largest market for imported aromatic alcohols and their derivatives in Southern Asia, comprising 89% of total imports. The second position in the ranking was taken by Bangladesh ($X), with a 6.9% share of total imports. It was followed by Pakistan, with a 3.1% share.

From 2012 to 2021, the average annual growth rate of value in India amounted to +8.9%. In the other countries, the average annual rates were as follows: Bangladesh (+32.8% per year) and Pakistan (+10.9% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2021, picking up by 41% against the previous year. Over the period under review, the import price posted a buoyant expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+17.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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