Indonesia: Octyl Alcohol Market 2024

Octyl Alcohol Market Size in Indonesia

The Indonesian octyl alcohol market was finally on the rise to reach $X in 2022, after three years of decline. Overall, the total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Octyl Alcohol Production in Indonesia

In value terms, octyl alcohol production contracted 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 indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of 21%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Octyl Alcohol Exports

Exports from Indonesia

In 2022, octyl alcohol exports from Indonesia dropped markedly to X tons, with a decrease of -38.8% compared with 2021. Overall, exports continue to indicate a perceptible decline. The pace of growth was the most pronounced in 2021 when exports increased by 36% against the previous year. As a result, the exports reached the peak of X tons, and then reduced remarkably in the following year.

In value terms, octyl alcohol exports fell sharply to $X in 2022. Over the period under review, exports continue to indicate a mild curtailment. The growth pace was the most rapid in 2021 with an increase of 108% against the previous year. As a result, the exports attained the peak of $X, and then dropped sharply in the following year.

Exports by Country

China (X tons) was the main destination for octyl alcohol exports from Indonesia, accounting for a 88% share of total exports. Moreover, octyl alcohol exports to China exceeded the volume sent to the second major destination, India (X tons), more than tenfold. The third position in this ranking was held by Japan (X tons), with a 2% share.

From 2012 to 2022, the average annual growth rate of volume to China amounted to -3.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-6.3% per year) and Japan (+15.5% per year).

In value terms, China ($X) remains the key foreign market for octanol (octyl alcohol) and isomers thereof exports from Indonesia, comprising 90% of total exports. The second position in the ranking was taken by India ($X), with a 2.4% share of total exports. It was followed by Japan, with a 1.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at -1.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-8.3% per year) and Japan (+13.2% per year).

Export Prices by Country

The average octyl alcohol export price stood at $X per ton in 2022, picking up by 31% against the previous year. In general, export price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, octyl alcohol export price increased by +101.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 53%. The export price peaked in 2022 and is likely to see steady growth in the near future.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were China ($X per ton) and Japan ($X per ton), while the average price for exports to India ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+1.7%), while the prices for the other major destinations experienced mixed trend patterns.

Octyl Alcohol Imports

Imports into Indonesia

In 2022, the amount of octanol (octyl alcohol) and isomers thereof imported into Indonesia contracted sharply to X tons, falling by -39.4% on 2021 figures. Overall, imports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 27% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, octyl alcohol imports dropped rapidly to $X in 2022. Over the period under review, imports continue to indicate a abrupt decrease. The growth pace was the most rapid in 2021 when imports increased by 129%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Japan (X tons), Singapore (X tons) and Malaysia (X tons) were the main suppliers of octyl alcohol imports to Indonesia, together comprising 93% of total imports. Taiwan (Chinese) lagged somewhat behind, comprising a further 4.8%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Taiwan (Chinese) (with a CAGR of +17.8%), while imports for the other leaders experienced a decline.

In value terms, Japan ($X) constituted the largest supplier of octanol (octyl alcohol) and isomers thereof to Indonesia, comprising 55% of total imports. The second position in the ranking was held by Singapore ($X), with a 27% share of total imports. It was followed by Malaysia, with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Japan totaled -4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-18.4% per year) and Malaysia (-23.2% per year).

Import Prices by Country

The average octyl alcohol import price stood at $X per ton in 2022, jumping by 20% against the previous year. Over the period under review, the import price saw a mild increase. The most prominent rate of growth was recorded in 2021 when the average import price increased by 81% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+14.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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