South-Eastern Asia: Market for Processed Petroleum Oils and Distillates 2024

Market Size for Processed Petroleum Oils and Distillates in South-Eastern Asia

In 2022, the Southeast Asian market for processed petroleum oils and distillates increased by X% to $X, rising for the second consecutive year after two years of decline. Overall, consumption, however, continues to indicate a slight curtailment. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Processed Petroleum Oils and Distillates in South-Eastern Asia

In value terms, processed petroleum oils and distillates production contracted to $X in 2022 estimated in export price. Overall, production continues to indicate a perceptible descent. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Processed Petroleum Oils and Distillates

Exports in South-Eastern Asia

After four years of decline, shipments abroad of processed petroleum oils and distillates increased by X% to X tons in 2022. Over the period under review, exports, however, showed a noticeable reduction. The pace of growth was the most pronounced in 2016 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, processed petroleum oils and distillates exports soared to $X in 2022. Overall, exports, however, saw a pronounced descent. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Malaysia (X tons) and Singapore (X tons) represented the key exporters of processed petroleum oils and distillates in 2022, resulting at approx. X% and X% of total exports, respectively. It was distantly followed by Thailand (X tons) and Indonesia (X tons), together making up a X% share of total exports. Vietnam (X tons) held a relatively small 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 Malaysia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

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

From 2012 to 2022, the average annual growth rate of value in Singapore stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (X% per year) and Thailand (X% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, rising by X% against the previous year. Overall, the export price, however, recorded a mild decrease. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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

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

Imports of Processed Petroleum Oils and Distillates

Imports in South-Eastern Asia

In 2022, after five years of decline, there was significant growth in supplies from abroad of processed petroleum oils and distillates, when their volume increased by X% to X tons. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2015 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, processed petroleum oils and distillates imports skyrocketed to $X in 2022. Over the period under review, imports, however, recorded a perceptible decline. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The Philippines (X tons), Singapore (X tons), Malaysia (X tons) and Indonesia (X tons) represented roughly X% of total imports in 2022. Vietnam (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Myanmar (X%). Thailand (X tons) followed a long way behind the leaders.

From 2012 to 2022, 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, Singapore ($X), Indonesia ($X) and the Philippines ($X) were the countries with the highest levels of imports in 2022, together comprising X% of total imports. Malaysia, Myanmar, Vietnam and Thailand lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Myanmar, with a CAGR of X%, saw the highest growth rate of the value of imports, 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 2022, with an increase of X% against the previous year. Overall, the import price, however, showed a noticeable contraction. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 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 Singapore ($X per ton), while Malaysia ($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 mixed trends in the import price figures.

Source: IndexBox Platform

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