South-Eastern Asia: Polycarboxylic Acid Market 2023

Polycarboxylic Acid Market Size in South-Eastern Asia

In 2021, after two years of decline, there was significant growth in the Southeast Asian polycarboxylic acid market, when its value increased by 17% to $X. The total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -5.8% against 2018 indices. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Polycarboxylic Acid Production in South-Eastern Asia

In value terms, polycarboxylic acid production surged to $X in 2021 estimated in export price. Overall, production, however, showed a slight decrease. The growth pace was the most rapid in 2018 with an increase of 17%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Polycarboxylic Acid Exports

Exports in South-Eastern Asia

For the third year in a row, South-Eastern Asia recorded growth in overseas shipments of polycarboxylic acids, which increased by 14% to X tons in 2021. In general, exports, however, saw a slight downturn. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, polycarboxylic acid exports surged to $X in 2021. Overall, exports, however, recorded a abrupt slump. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Thailand was the major exporting country with an export of about X tons, which reached 71% of total exports. Malaysia (X tons) ranks second in terms of the total exports with a 20% share, followed by Indonesia (6.1%). Vietnam (X tons) took a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to polycarboxylic acid exports from Thailand stood at -2.4%. At the same time, Vietnam (+26.4%), Malaysia (+4.7%) and Indonesia (+1.8%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +26.4% from 2012-2021. From 2012 to 2021, the share of Malaysia and Vietnam increased by +8.2 and +2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest polycarboxylic acid supplier in South-Eastern Asia, comprising 60% of total exports. The second position in the ranking was held by Malaysia ($X), with a 29% share of total exports. It was followed by Indonesia, with a 6.1% share.

From 2012 to 2021, the average annual growth rate of value in Thailand amounted to -7.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (+3.0% per year) and Indonesia (-2.5% per year).

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per ton, rising by 43% against the previous year. Over the period under review, the export price, however, showed a noticeable downturn. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+1.4%), while the other leaders experienced a decline in the export price figures.

Polycarboxylic Acid Imports

Imports in South-Eastern Asia

In 2021, overseas purchases of polycarboxylic acids increased by 29% to X tons, rising for the sixth consecutive year after three years of decline. In general, imports enjoyed a prominent increase. The pace of growth was the most pronounced in 2016 when imports increased by 35%. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the immediate term.

In value terms, polycarboxylic acid imports surged to $X in 2021. Total imports indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Vietnam (X tons) represented the major importer of polycarboxylic acids, achieving 65% of total imports. Indonesia (X tons) held an 11% share (based on physical terms) of total imports, which put it in second place, followed by Malaysia (8.8%), Singapore (6.5%) and Thailand (6.4%). The Philippines (X tons) took a minor share of total imports.

Vietnam was also the fastest-growing in terms of the polycarboxylic acids imports, with a CAGR of +18.1% from 2012 to 2021. At the same time, the Philippines (+3.1%), Thailand (+2.8%), Indonesia (+2.8%) and Singapore (+2.0%) displayed positive paces of growth. Malaysia experienced a relatively flat trend pattern. From 2012 to 2021, the share of Vietnam increased by +32 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) constitutes the largest market for imported polycarboxylic acids in South-Eastern Asia, comprising 52% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 13% share of total imports. It was followed by Singapore, with an 11% share.

In Vietnam, polycarboxylic acid imports increased at an average annual rate of +11.7% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Indonesia (+0.4% per year) and Singapore (+1.0% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2021, jumping by 20% against the previous year. Overall, the import price, however, showed a perceptible shrinkage. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Singapore ($X per ton), while Vietnam ($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 (+1.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Market Intelligence Platform

Frequently Asked Questions (FAQ) :