South-Eastern Asia: Isocyanates Market 2024

Isocyanates Market Size in South-Eastern Asia

The Southeast Asian isocyanates market reached $X in 2023, stabilizing at the previous year. In general, consumption, however, showed a slight curtailment. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2023, consumption stood at a somewhat lower figure.

Isocyanates Production in South-Eastern Asia

In value terms, isocyanates production rose rapidly to $X in 2023 estimated in export price. Overall, production, however, continues to indicate a perceptible decrease. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2023, production failed to regain momentum.

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Isocyanates Exports

Exports in South-Eastern Asia

After four years of decline, overseas shipments of isocyanates increased by X% to X tons in 2023. Over the period under review, exports, however, continue to indicate a deep contraction. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

In value terms, isocyanates exports surged to $X in 2023. Overall, exports, however, faced a abrupt descent. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Thailand dominates exports structure, amounting to X tons, which was near X% of total exports in 2023. The following exporters - Malaysia (X tons), Singapore (X tons) and Vietnam (X tons) - together made up X% of total exports.

Thailand was also the fastest-growing in terms of the isocyanates exports, with a CAGR of X% from 2012 to 2023. At the same time, Vietnam (X%) displayed positive paces of growth. By contrast, Malaysia (X%) and Singapore (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Thailand and Vietnam increased by X and X percentage points, respectively.

In value terms, Thailand ($X) emerged as the largest isocyanates supplier in South-Eastern Asia, comprising X% of total exports. The second position in the ranking was held by Malaysia ($X), with a X% share of total exports. It was followed by Singapore, with a X% share.

In Thailand, isocyanates exports expanded at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (X% per year) and Singapore (X% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2023, declining by X% against the previous year. Overall, the export price continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2021 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2022 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the other leaders experienced mixed trends in the export price figures.

Isocyanates Imports

Imports in South-Eastern Asia

In 2023, the amount of isocyanates imported in South-Eastern Asia expanded modestly to X tons, picking up by X% compared with the previous year's figure. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2023, the growth of imports remained at a lower figure.

In value terms, isocyanates imports declined to $X in 2023. Total imports indicated a tangible increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, Vietnam (X tons) and Indonesia (X tons) represented the major importers of isocyanates in South-Eastern Asia, together reaching approx. X% of total imports. It was distantly followed by Thailand (X tons), the Philippines (X tons), Singapore (X tons) and Malaysia (X tons), together committing a X% share of total imports. Myanmar (X tons) held a little share of total imports.

From 2012 to 2023, the biggest increases were recorded for Myanmar (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest isocyanates importing markets in South-Eastern Asia were Vietnam ($X), Indonesia ($X) and Thailand ($X), together accounting for X% of total imports. The Philippines, Malaysia, Singapore and Myanmar lagged somewhat behind, together comprising a further X%.

Myanmar, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries 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 South-Eastern Asia stood at $X per ton in 2023, falling by X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Thailand ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2023, 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