Asia-Pacific: Plant-Growth Regulators Market 2022

Plant-Growth Regulators Market Size in Asia-Pacific

For the fifth consecutive year, the Asia-Pacific plant-growth regulators market recorded growth in sales value, which increased by 1.8% to $X in 2021. The market value increased at an average annual rate of +3.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2021 and is likely to see steady growth in years to come.

Plant-Growth Regulators Production in Asia-Pacific

In value terms, plant-growth regulators production declined modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 11% against the previous year. As a result, production reached the peak level of $X, and then fell slightly in the following year.

Plant-Growth Regulators Exports

Exports in Asia-Pacific

In 2021, shipments abroad of plant-growth regulators increased by 12% to X tons, rising for the second consecutive year after two years of decline. Total exports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +9.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +39.5% against 2019 indices. The pace of growth appeared the most rapid in 2017 with an increase of 34%. Over the period under review, the exports attained the maximum in 2021 and are likely to continue growth in the immediate term.

In value terms, plant-growth regulators exports soared to $X in 2021. Overall, exports enjoyed a prominent expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China was the major exporting country with an export of about X tons, which accounted for 83% of total exports. It was distantly followed by India (X tons), generating a 10% share of total exports. Malaysia (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to plant-growth regulators exports from China stood at +9.6%. At the same time, India (+19.7%) and Malaysia (+9.8%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +19.7% from 2012-2021. From 2012 to 2021, the share of India increased by +5.6 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest plant-growth regulators supplier in Asia-Pacific, comprising 68% of total exports. The second position in the ranking was taken by India ($X), with a 23% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in China totaled +12.3%. In the other countries, the average annual rates were as follows: India (+24.8% per year) and Malaysia (+10.9% per year).

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per ton, growing by 28% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.4%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was India ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+4.3%), while the other leaders experienced more modest paces of growth.

Plant-Growth Regulators Imports

Imports in Asia-Pacific

In 2021, overseas purchases of plant-growth regulators increased by 9.7% to X tons, rising for the second consecutive year after two years of decline. Total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +41.0% against 2019 indices. The pace of growth appeared the most rapid in 2020 with an increase of 29% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, plant-growth regulators imports soared to $X in 2021. Total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +56.8% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Australia was the major importer of plant-growth regulators in Asia-Pacific, with the volume of imports amounting to X tons, which was near 33% of total imports in 2021. Thailand (X tons) ranks second in terms of the total imports with a 10% share, followed by India (9.3%), Indonesia (7.8%), Vietnam (7.7%), Japan (6.1%), the Philippines (4.7%) and Cambodia (4.5%). Taiwan (Chinese) (X tons) followed a long way behind the leaders.

Imports into Australia increased at an average annual rate of +11.1% from 2012 to 2021. At the same time, Cambodia (+48.1%), India (+24.3%), Taiwan (Chinese) (+22.8%), the Philippines (+8.9%), Indonesia (+8.7%) and Japan (+4.5%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +48.1% from 2012-2021. By contrast, Vietnam (-2.3%) and Thailand (-5.6%) illustrated a downward trend over the same period. While the share of Australia (+12 p.p.), India (+7.2 p.p.), the Philippines (+4.7 p.p.), Cambodia (+4.3 p.p.), Taiwan (Chinese) (+2.2 p.p.) and Indonesia (+1.7 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Vietnam (-7.9 p.p.) and Thailand (-18.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported plant-growth regulators in Asia-Pacific, comprising 30% of total imports. The second position in the ranking was taken by India ($X), with a 15% share of total imports. It was followed by Thailand, with a 10% share.

From 2012 to 2021, the average annual growth rate of value in Australia totaled +9.3%. In the other countries, the average annual rates were as follows: India (+14.8% per year) and Thailand (-2.0% per year).

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per ton, jumping by 19% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. Over the period under review, import prices reached the maximum at $X per ton in 2013; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was India ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+9.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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