ASEAN: Octyl Alcohol Market 2024

Octyl Alcohol Market Size in ASEAN

The ASEAN octyl alcohol market fell to $X in 2022, almost unchanged from the previous year. The total consumption indicated a resilient increase from 2012 to 2022: its value 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, consumption decreased by -2.3% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Octyl Alcohol Production in ASEAN

In value terms, octyl alcohol production reduced modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 19%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Octyl Alcohol Exports

Exports in ASEAN

In 2022, approx. X tons of octanol (octyl alcohol) and isomers thereof were exported in ASEAN; waning by -29.7% compared with 2021. Over the period under review, exports recorded a pronounced descent. The most prominent rate of growth was recorded in 2019 with an increase of 16% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, octyl alcohol exports shrank notably to $X in 2022. In general, exports showed a perceptible descent. The most prominent rate of growth was recorded in 2021 when exports increased by 57% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Indonesia (X tons) was the major exporter of octanol (octyl alcohol) and isomers thereof, achieving 62% of total exports. It was distantly followed by Malaysia (X tons), creating a 28% share of total exports. Thailand (X tons), Singapore (X tons) and the Philippines (X tons) held a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to octyl alcohol exports from Indonesia stood at -2.9%. At the same time, the Philippines (+26.2%) and Thailand (+4.3%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +26.2% from 2012-2022. By contrast, Malaysia (-5.6%) and Singapore (-15.7%) illustrated a downward trend over the same period. Indonesia (+8.5 p.p.), Thailand (+2.4 p.p.) and the Philippines (+2 p.p.) significantly strengthened its position in terms of the total exports, while Malaysia and Singapore saw its share reduced by -3.9% and -8.9% from 2012 to 2022, respectively.

In value terms, Indonesia ($X) remains the largest octyl alcohol supplier in ASEAN, comprising 66% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 22% share of total exports. It was followed by Singapore, with a 5.7% share.

In Indonesia, octyl alcohol exports shrank by an average annual rate of -1.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Malaysia (-6.9% per year) and Singapore (-10.8% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, with an increase of 18% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by 42% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is likely to continue growth in the immediate term.

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 Singapore ($X per ton), while Malaysia ($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 (+5.7%), while the other leaders experienced more modest paces of growth.

Octyl Alcohol Imports

Imports in ASEAN

In 2022, the amount of octanol (octyl alcohol) and isomers thereof imported in ASEAN fell rapidly to X tons, waning by -24.4% compared with 2021. In general, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 36%. As a result, imports reached the peak of X tons, and then dropped dramatically in the following year.

In value terms, octyl alcohol imports fell significantly to $X in 2022. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 114% against the previous year. As a result, imports attained the peak of $X, and then reduced notably in the following year.

Imports by Country

In 2022, Vietnam (X tons) was the major importer of octanol (octyl alcohol) and isomers thereof, constituting 46% of total imports. Thailand (X tons) held a 20% share (based on physical terms) of total imports, which put it in second place, followed by Singapore (18%) and Indonesia (11%). Malaysia (X tons) took a relatively small share of total imports.

Imports into Vietnam increased at an average annual rate of +3.8% from 2012 to 2022. At the same time, Singapore (+16.5%), Malaysia (+7.4%) and Thailand (+1.4%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +16.5% from 2012-2022. By contrast, Indonesia (-14.3%) illustrated a downward trend over the same period. While the share of Vietnam (+17 p.p.), Singapore (+15 p.p.), Thailand (+3.9 p.p.) and Malaysia (+2 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Indonesia (-37.4 p.p.) displayed negative dynamics.

In value terms, Vietnam ($X), Singapore ($X) and Thailand ($X) constituted the countries with the highest levels of imports in 2022, with a combined 84% share of total imports.

Among the main importing countries, Singapore, with a CAGR of +17.9%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, dropping by -1.8% against the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by 57%. As a result, import price attained the peak level of $X per ton, and then shrank in the following year.

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 Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+1.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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