Quinones Market

The article delves into the expected upward trend in quinones consumption globally, with a forecasted CAGR of +3.0% from 2022 to 2030. China leads in both consumption and production of quinones, with significant growth rates. Import and export data reveals key players in the market, with the Netherlands, Japan, and the United States also featuring prominently. Price trends and fluctuations in the quinones market are also analyzed, offering valuable insights for businesses and stakeholders in the industry.

Market Forecast

Driven by increasing demand for quinones worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +3.0% for the period from 2022 to 2030, which is projected to bring the market volume to 56K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.1% for the period from 2022 to 2030, which is projected to bring the market value to $856M (in nominal prices) by the end of 2030.

Consumption

World Consumption of Quinones

In 2022, consumption of quinones increased by 14% to 45K tons for the first time since 2019, thus ending a two-year declining trend. The total consumption volume increased at an average annual rate of +2.6% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. As a result, consumption attained the peak volume and is likely to continue growth in the immediate term.

The global quinones market value skyrocketed to $668M in 2022, with an increase of 25% 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). The market value increased at an average annual rate of +3.0% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the global market attained the peak level at $683M in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Consumption By Country

The country with the largest volume of quinones consumption was China (21K tons), comprising approx. 48% of total volume. Moreover, quinones consumption in China exceeded the figures recorded by the second-largest consumer, India (5K tons), fourfold. Italy (4.9K tons) ranked third in terms of total consumption with an 11% share.

In China, quinones consumption expanded at an average annual rate of +10.1% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of consumption growth: India (+4.7% per year) and Italy (+34.9% per year).

In value terms, China ($250M) led the market, alone. The second position in the ranking was taken by Italy ($107M). It was followed by the United States.

In China, the quinones market expanded at an average annual rate of +10.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Italy (+37.1% per year) and the United States (-6.7% per year).

In 2022, the highest levels of quinones per capita consumption was registered in Italy (82 kg per 1000 persons), followed by Thailand (15 kg per 1000 persons), China (15 kg per 1000 persons) and Japan (13 kg per 1000 persons), while the world average per capita consumption of quinones was estimated at 5.7 kg per 1000 persons.

From 2012 to 2022, the average annual growth rate of the quinones per capita consumption in Italy amounted to +34.9%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Thailand (+3.2% per year) and China (+9.5% per year).

Production

World Production of Quinones

For the third consecutive year, the global market recorded growth in production of quinones, which increased by 15% to 43K tons in 2022. The total output volume increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. As a result, production reached the peak volume and is likely to continue growth in the immediate term.

In value terms, quinones production reached $492M in 2022 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 12%. Global production peaked at $610M in 2015; however, from 2016 to 2022, production remained at a lower figure.

Production By Country

The country with the largest volume of quinones production was China (26K tons), comprising approx. 62% of total volume. Moreover, quinones production in China exceeded the figures recorded by the second-largest producer, Japan (5.3K tons), fivefold. The third position in this ranking was taken by Italy (4.8K tons), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China was relatively modest. The remaining producing countries recorded the following average annual rates of production growth: Japan (-0.2% per year) and Italy (0.0% per year).

Imports

World Imports of Quinones

In 2022, overseas purchases of quinones increased by 0.2% to 19K tons, rising for the second consecutive year after eight years of decline. Overall, imports, however, recorded a pronounced downturn. The pace of growth was the most pronounced in 2021 when imports increased by 17% against the previous year. Global imports peaked at 29K tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, quinones imports fell slightly to $281M in 2022. In general, imports, however, showed a perceptible reduction. The growth pace was the most rapid in 2021 with an increase of 16% against the previous year. Over the period under review, global imports reached the peak figure at $461M in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports By Country

India (5.2K tons) and the United States (4.8K tons) were the largest importers of quinones in 2022, reaching approx. 27% and 25% of total imports, respectively. China (2.2K tons) took the next position in the ranking, followed by Thailand (1.1K tons). All these countries together held approx. 17% share of total imports. The following importers - Belgium (701 tons), South Korea (423 tons), Brazil (401 tons), Taiwan (Chinese) (383 tons), Canada (373 tons) and Argentina (354 tons) - together made up 14% of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +7.8%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($64M), India ($54M) and China ($19M) constituted the countries with the highest levels of imports in 2022, with a combined 49% share of global imports.

In terms of the main importing countries, India, with a CAGR of +6.6%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average quinones import price stood at $14,571 per ton in 2022, approximately mirroring the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the average import price increased by 29%. Over the period under review, average import prices reached the maximum at $22,318 per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

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 Belgium ($25,800 per ton), while Argentina ($4,693 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+16.2%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Quinones

In 2022, global exports of quinones fell modestly to 17K tons, leveling off at the previous year's figure. Overall, exports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2021 when exports increased by 26%. Over the period under review, the global exports hit record highs at 31K tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, quinones exports amounted to $265M in 2022. In general, exports saw a noticeable slump. The growth pace was the most rapid in 2021 with an increase of 25% against the previous year. Over the period under review, the global exports attained the peak figure at $436M in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports By Country

China was the main exporting country with an export of about 6.9K tons, which recorded 40% of total exports. Japan (3.8K tons) took the second position in the ranking, distantly followed by the Netherlands (1.4K tons), the Czech Republic (1.1K tons) and the UK (1K tons). All these countries together took near 43% share of total exports. The United States (721 tons) and Switzerland (541 tons) took a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by the Czech Republic (with a CAGR of +45.7%), while the other global leaders experienced more modest paces of growth.

In value terms, China ($97M) remains the largest quinones supplier worldwide, comprising 36% of global exports. The second position in the ranking was taken by the Netherlands ($41M), with a 16% share of global exports. It was followed by Japan, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to -6.2%. The remaining exporting countries recorded the following average annual rates of exports growth: the Netherlands (+3.1% per year) and Japan (-5.9% per year).

Export Prices By Country

The average quinones export price stood at $15,389 per ton in 2022, rising by 4.2% against the previous year. In general, export price indicated modest growth from 2012 to 2022: its price 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. The most prominent rate of growth was recorded in 2014 an increase of 40%. Over the period under review, the average export prices hit record highs at $21,810 per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Netherlands ($28,855 per ton), while the Czech Republic ($4,503 per ton) was amongst the lowest.

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

Source: IndexBox Market Intelligence Platform