Thailand: Octyl Alcohol Market 2024

Octyl Alcohol Market Size in Thailand

The Thai octyl alcohol market dropped remarkably to $X in 2022, falling by -17.9% against the previous year. Overall, the total consumption indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.9% 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 reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Octyl Alcohol Production in Thailand

In value terms, octyl alcohol production declined to $X in 2022 estimated in export price. In general, the total production indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.8% against 2020 indices. The pace of growth was the most pronounced in 2013 when the production volume increased by 43%. Octyl alcohol production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Octyl Alcohol Exports

Exports from Thailand

In 2022, shipments abroad of octanol (octyl alcohol) and isomers thereof was finally on the rise to reach X tons after two years of decline. Over the period under review, total exports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, octyl alcohol exports soared to $X in 2022. In general, exports saw a remarkable increase. Over the period under review, the exports attained the maximum at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons), India (X tons) and South Korea (X tons) were the main destinations of octyl alcohol exports from Thailand, together accounting for 98% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Korea (with a CAGR of +107.0%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), India ($X) and South Korea ($X) appeared to be the largest markets for octyl alcohol exported from Thailand worldwide, with a combined 96% share of total exports.

South Korea, with a CAGR of +101.6%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average octyl alcohol export price amounted to $X per ton, growing by 7.9% against the previous year. In general, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 77%. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+6.8%), while the prices for the other major destinations experienced more modest paces of growth.

Octyl Alcohol Imports

Imports into Thailand

In 2022, purchases abroad of octanol (octyl alcohol) and isomers thereof decreased by -48% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, total imports indicated a slight increase from 2012 to 2022: its volume 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. The most prominent rate of growth was recorded in 2014 with an increase of 46%. Imports peaked at X tons in 2021, and then reduced markedly in the following year.

In value terms, octyl alcohol imports shrank significantly to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 94%. As a result, imports reached the peak of $X, and then contracted rapidly in the following year.

Imports by Country

Saudi Arabia (X tons), Malaysia (X tons) and South Korea (X tons) were the main suppliers of octyl alcohol imports to Thailand, with a combined 95% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of +21.5%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Saudi Arabia ($X), Malaysia ($X) and South Korea ($X) constituted the largest octyl alcohol suppliers to Thailand, together comprising 94% of total imports.

Saudi Arabia, with a CAGR of +21.4%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average octyl alcohol import price amounted to $X per ton, picking up by 11% against the previous year. In general, the import price, however, showed a slight downturn. The pace of growth was the most pronounced in 2021 an increase of 34%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for South Korea ($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 (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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