Aldehyde-Alcohols, Aldehyde-Ethers, Aldehyde-Phenols And Aldehydes With Other Oxygen Function Market

The article discusses the depressed state of the global market for aldehyde-alcohols, aldehyde-ethers, aldehyde-phenols, and aldehydes with other oxygen function. The market is expected to continue its downward trend in both consumption and production, with China leading in both aspects. Global exports and imports show fluctuations in volume and value, with China dominating as the largest exporter of these substances.

Market Forecast

Depressed by shrinking demand for aldehyde-alcohols, aldehyde-ethers, aldehyde-phenols and aldehydes with other oxygen function worldwide, the market is expected to continue its downward consumption trend over the next eight-year period. The performance of the market is forecast to contract with an anticipated CAGR of -0.1% for the period from 2022 to 2030, which is projected to depress the market volume to 259K tons by the end of 2030.

In value terms, the market is forecast to contract with an anticipated CAGR of +1.5% for the period from 2022 to 2030, which is projected to bring the market value to $5B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Aldehyde-Alcohols, Aldehyde-Ethers, Aldehyde-Phenols And Aldehydes With Other Oxygen Function

In 2022, consumption of aldehyde-alcohols, aldehyde-ethers, aldehyde-phenols and aldehydes with other oxygen function was finally on the rise to reach 261K tons after six years of decline. Overall, consumption, however, saw a deep downturn. Global consumption peaked at 500K tons in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

The size of the market for aldehyde-alcohols, aldehyde-ethers, aldehyde-phenols and aldehydes with other oxygen function worldwide expanded slightly to $4.5B in 2022, increasing by 2.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, saw a abrupt contraction. Global consumption peaked at $8.6B in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Consumption By Country

The country with the largest volume of consumption of aldehyde-alcohols, aldehyde-ethers, aldehyde-phenols and aldehydes with other oxygen function was China (80K tons), accounting for 31% of total volume. Moreover, consumption of aldehyde-alcohols, aldehyde-ethers, aldehyde-phenols and aldehydes with other oxygen function in China exceeded the figures recorded by the second-largest consumer, India (34K tons), twofold. The third position in this ranking was taken by the United States (30K tons), with a 12% share.

In China, consumption of aldehyde-alcohols, aldehyde-ethers, aldehyde-phenols and aldehydes with other oxygen function shrank by an average annual rate of -4.3% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of consumption growth: India (-4.4% per year) and the United States (-2.2% per year).

In value terms, China ($1.2B) led the market, alone. The second position in the ranking was taken by Brazil ($517M). It was followed by the United States.

In China, the market of aldehyde-alcohols, aldehyde-ethers, aldehyde-phenols and aldehydes with other oxygen function plunged by an average annual rate of -3.4% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of market growth: Brazil (-9.6% per year) and the United States (-2.6% per year).

The countries with the highest levels of aldehyde-alcohols, aldehyde-ethers, aldehyde-phenols and aldehydes with other oxygen function per capita consumption in 2022 were Germany (97 kg per 1000 persons), the United States (90 kg per 1000 persons) and the UK (87 kg per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of function, amongst the leading consuming countries, was attained by the United States (with a CAGR of -2.8%), while function for the other global leaders experienced a decline in the per capita consumption figures.

Production

World Production of Aldehyde-Alcohols, Aldehyde-Ethers, Aldehyde-Phenols And Aldehydes With Other Oxygen Function

In 2022, production of aldehyde-alcohols, aldehyde-ethers, aldehyde-phenols and aldehydes with other oxygen function was finally on the rise to reach 262K tons for the first time since 2015, thus ending a six-year declining trend. Overall, production, however, showed a deep reduction. Over the period under review, global production of attained the peak volume at 498K tons in 2012; however, from 2013 to 2022, production failed to regain momentum.

In value terms, production of aldehyde-alcohols, aldehyde-ethers, aldehyde-phenols and aldehydes with other oxygen function expanded slightly to $4.4B in 2022 estimated in export price. Over the period under review, production, however, recorded a deep reduction. Over the period under review, global production of hit record highs at $7.9B in 2012; however, from 2013 to 2022, production failed to regain momentum.

Production By Country

China (98K tons) constituted the country with the largest volume of production of aldehyde-alcohols, aldehyde-ethers, aldehyde-phenols and aldehydes with other oxygen function, accounting for 37% of total volume. Moreover, production of aldehyde-alcohols, aldehyde-ethers, aldehyde-phenols and aldehydes with other oxygen function in China exceeded the figures recorded by the second-largest producer, India (35K tons), threefold. The third position in this ranking was held by the United States (29K tons), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume in China totaled -3.1%. The remaining producing countries recorded the following average annual rates of production growth: India (-4.5% per year) and the United States (-2.3% per year).

Imports

World Imports of Aldehyde-Alcohols, Aldehyde-Ethers, Aldehyde-Phenols And Aldehydes With Other Oxygen Function

Global imports of aldehyde-alcohols, aldehyde-ethers, aldehyde-phenols and aldehydes with other oxygen function totaled 52K tons in 2022, increasing by 11% on the previous year's figure. The total import volume increased at an average annual rate of +3.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of aldehyde-alcohols, aldehyde-ethers, aldehyde-phenols and aldehydes with other oxygen function surged to $995M in 2022. In general, total imports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +6.9% 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 +105.7% against 2016 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports By Country

In 2022, the United States (6.4K tons), China (5.6K tons), Germany (4.2K tons), India (3.7K tons), the Netherlands (2.5K tons), France (2.5K tons), Singapore (2.3K tons), the UK (2K tons), Brazil (2K tons), Spain (1.8K tons), Indonesia (1.7K tons) and Belgium (1.7K tons) was the key importer of aldehyde-alcohols, aldehyde-ethers, aldehyde-phenols and aldehydes with other oxygen function in the world, committing 70% of total import. Italy (1.3K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +23.4%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest aldehyde-alcohols, aldehyde-ethers, aldehyde-phenols and aldehydes with other oxygen function importing markets worldwide were the United States ($180M), Germany ($102M) and India ($70M), with a combined 35% share of global imports. France, China, Singapore, Italy, Brazil, Spain, the Netherlands, the UK, Indonesia and Belgium lagged somewhat behind, together comprising a further 35%.

Italy, with a CAGR of +10.8%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average import price for aldehyde-alcohols, aldehyde-ethers, aldehyde-phenols and aldehydes with other oxygen function amounted to $18,996 per ton, surging by 12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.0%. The pace of growth appeared the most rapid in 2021 an increase of 14% against the previous year. Global import price peaked in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Italy ($30,341 per ton), while Belgium ($4,198 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+6.8%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Aldehyde-Alcohols, Aldehyde-Ethers, Aldehyde-Phenols And Aldehydes With Other Oxygen Function

In 2022, global exports of aldehyde-alcohols, aldehyde-ethers, aldehyde-phenols and aldehydes with other oxygen function totaled 53K tons, surging by 9.4% against the year before. Overall, total exports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of +4.5% 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 +27.3% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 16%. Over the period under review, the global exports of reached the maximum in 2022 and are likely to see steady growth in the near future.

In value terms, exports of aldehyde-alcohols, aldehyde-ethers, aldehyde-phenols and aldehydes with other oxygen function surged to $1B in 2022. In general, exports recorded a buoyant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 36% against the previous year. The global exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports By Country

In 2022, China (24K tons) represented the main exporter of aldehyde-alcohols, aldehyde-ethers, aldehyde-phenols and aldehydes with other oxygen function, comprising 45% of total exports. The United States (5.1K tons) took a 9.5% share (based on physical terms) of total exports, which put it in second place, followed by Germany (9.3%), India (8.8%), France (8.4%) and Canada (4.9%). The following exporters - Norway (1.5K tons) and Spain (1K tons) - together made up 4.7% of total exports.

Exports from China increased at an average annual rate of +6.4% from 2012 to 2022. At the same time, Canada (+88.5%), France (+40.7%), the United States (+4.1%) and Spain (+2.0%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing exporter exported in the world, with a CAGR of +88.5% from 2012-2022. Germany experienced a relatively flat trend pattern. By contrast, India (-2.7%) and Norway (-4.8%) illustrated a downward trend over the same period. France (+8 p.p.), China (+7.3 p.p.) and Canada (+4.8 p.p.) significantly strengthened its position in terms of the global exports, while Norway, Germany and India saw its share reduced by -4.4%, -6.3% and -9.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($458M) remains the largest aldehyde-alcohols, aldehyde-ethers, aldehyde-phenols and aldehydes with other oxygen function supplier worldwide, comprising 46% of global exports. The second position in the ranking was taken by France ($106M), with an 11% share of global exports. It was followed by the United States, with a 6.9% share.

From 2012 to 2022, the average annual growth rate of value in China amounted to +9.9%. The remaining exporting countries recorded the following average annual rates of exports growth: France (+47.0% per year) and the United States (+2.8% per year).

Export Prices By Country

In 2022, the average export price for aldehyde-alcohols, aldehyde-ethers, aldehyde-phenols and aldehydes with other oxygen function amounted to $18,806 per ton, rising by 7.7% against the previous year. Over the period under review, export price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for aldehyde-alcohols, aldehyde-ethers, aldehyde-phenols and aldehydes with other oxygen function increased by +64.8% against 2017 indices. The growth pace was the most rapid in 2021 an increase of 17% against the previous year. The global export price peaked in 2022 and is expected to retain growth in the near future.

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 Norway ($37,186 per ton), while Canada ($11,573 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+7.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform