Asia-Pacific: Acetone Market 2024

Acetone Market Size in Asia-Pacific

For the third year in a row, the Asia-Pacific acetone market recorded growth in sales value, which increased by X% to $X in 2022. Over the period under review, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2012; afterwards, it flattened through to 2022.

Acetone Production in Asia-Pacific

In value terms, acetone production contracted modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of X%. The level of production peaked at $X in 2021, and then contracted modestly in the following year.

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Acetone Exports

Exports in Asia-Pacific

In 2022, after two years of growth, there was significant decline in shipments abroad of acetone, when their volume decreased by X% to X tons. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, acetone exports reduced sharply to $X in 2022. In general, exports saw a slight shrinkage. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2021, and then fell sharply in the following year.

Exports by Country

The shipments of the three major exporters of acetone, namely South Korea, Thailand and Taiwan (Chinese), represented more than two-thirds of total export. It was distantly followed by Singapore (X tons), comprising a X% share of total exports. The following exporters - Japan (X tons) and India (X tons) - each resulted at a X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by India (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest acetone supplying countries in Asia-Pacific were South Korea ($X), Thailand ($X) and Taiwan (Chinese) ($X), with a combined X% share of total exports. Singapore, India and Japan lagged somewhat behind, together accounting for a further X%.

India, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, waning by X% against the previous year. In general, the export price saw a noticeable descent. The growth pace was the most rapid in 2020 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was India ($X per ton), while Japan ($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 (X%), while the other leaders experienced a decline in the export price figures.

Acetone Imports

Imports in Asia-Pacific

In 2022, after two years of decline, there was significant growth in purchases abroad of acetone, when their volume increased by X% to X tons. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X%. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, acetone imports dropped to $X in 2022. In general, imports, however, recorded a pronounced setback. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) was the key importer of acetone, committing X% of total imports. It was distantly followed by India (X tons), comprising a X% share of total imports. Thailand (X tons), Indonesia (X tons), Vietnam (X tons) and Japan (X tons) followed a long way behind the leaders.

China experienced a relatively flat trend pattern with regard to volume of imports of acetone. At the same time, Vietnam (X%), Japan (X%), Indonesia (X%) and India (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2022. By contrast, Thailand (X%) illustrated a downward trend over the same period. While the share of Vietnam (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Thailand (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported acetone in Asia-Pacific, comprising X% of total imports. The second position in the ranking was taken by India ($X), with a X% share of total imports. It was followed by Thailand, with a X% share.

From 2012 to 2022, the average annual growth rate of value in China totaled X%. In the other countries, the average annual rates were as follows: India (X% per year) and Thailand (X% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, with a decrease of X% against the previous year. In general, the import price saw a perceptible curtailment. The growth pace was the most rapid in 2020 when the import price increased by X%. The level of import peaked at $X per ton in 2014; however, from 2015 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 Vietnam ($X per ton), while China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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