ASEAN: Market for Phenols And Other Oils And Oil Products 2024

Market Size for Phenols And Other Oils And Oil Products in ASEAN

In 2022, after four years of decline, there was significant growth in the ASEAN market for phenols and other oils and oil products, when its value increased by X% to $X. Overall, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Phenols And Other Oils And Oil Products in ASEAN

In value terms, production of phenols and other oils and oil products rose markedly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a noticeable reduction. The pace of growth appeared the most rapid in 2019 when the production volume increased by X%. The level of production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Exports of Phenols And Other Oils And Oil Products

Exports in ASEAN

After five years of growth, overseas shipments of phenols and other oils and oil products decreased by X% to X tons in 2022. In general, exports, however, continue to indicate buoyant growth. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. Over the period under review, the exports of hit record highs at X tons in 2021, and then declined notably in the following year.

In value terms, exports of phenols and other oils and oil products dropped remarkably to $X in 2022. Overall, exports, however, continue to indicate notable growth. The pace of growth was the most pronounced in 2019 with an increase of X%. The level of export peaked at $X in 2021, and then contracted rapidly in the following year.

Exports by Country

Thailand represented the main exporter of phenols and other oils and oil products in ASEAN, with the volume of exports reaching X tons, which was near X% of total exports in 2022. Indonesia (X tons) ranks second in terms of the total exports with a X% share, followed by Singapore (X%) and Malaysia (X%).

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest phenols and other oils and oil products supplying countries in ASEAN were Thailand ($X), Indonesia ($X) and Singapore ($X), with a combined X% share of total exports.

In terms of the main exporting countries, Singapore, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, rising by X% against the previous year. Over the period under review, the export price, however, recorded a perceptible contraction. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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

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

Imports of Phenols And Other Oils And Oil Products

Imports in ASEAN

In 2022, the amount of phenols and other oils and oil products imported in ASEAN reduced to X tons, falling by X% against the year before. In general, imports, however, showed a temperate increase. The pace of growth appeared the most rapid in 2017 with an increase of X%. The volume of import peaked at X tons in 2021, and then contracted in the following year.

In value terms, imports of phenols and other oils and oil products soared to $X in 2022. Over the period under review, imports, however, saw a prominent increase. The growth pace was the most rapid in 2019 with an increase of X%. Over the period under review, imports of attained the peak figure in 2022 and are likely to continue growth in the immediate term.

Imports by Country

Singapore (X tons) and Thailand (X tons) represented roughly X% of total imports in 2022. Malaysia (X tons) ranks next in terms of the total imports with a X% share, followed by Vietnam (X%). Indonesia (X tons) held a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Singapore (with a CAGR of X%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Singapore ($X), Thailand ($X) and Malaysia ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

In terms of the main importing countries, Singapore, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, rising by X% against the previous year. Import price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for phenols and other oils and oil products increased by X% against 2020 indices. The growth pace was the most rapid in 2018 an increase of X%. The level of import peaked in 2022 and is expected to retain growth in years to come.

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

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

Source: IndexBox Platform

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