Eastern Asia: Aromatic Alcohols Market 2024

Aromatic Alcohols Market Size in Eastern Asia

In 2023, the East Asian aromatic alcohols market decreased by X% to $X, falling for the second year in a row after four years of growth. The market value 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 level of consumption peaked at $X in 2021; however, from 2022 to 2023, consumption failed to regain momentum.

Aromatic Alcohols Production in Eastern Asia

In value terms, aromatic alcohols production totaled $X in 2023 estimated in export price. The total production indicated temperate growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. The level of production peaked at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Aromatic Alcohols Exports

Exports in Eastern Asia

Aromatic alcohols exports stood at X tons in 2023, picking up by X% against 2022 figures. Overall, exports posted a prominent increase. The growth pace was the most rapid in 2018 when exports increased by X%. Over the period under review, the exports reached the maximum in 2023 and are expected to retain growth in years to come.

In value terms, aromatic alcohols exports shrank dramatically to $X in 2023. In general, exports saw a prominent expansion. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2022, and then dropped significantly in the following year.

Exports by Country

China prevails in exports structure, resulting at X tons, which was near X% of total exports in 2023. It was distantly followed by Japan (X tons), creating a X% share of total exports.

China was also the fastest-growing in terms of the aromatic alcohols and their derivatives exports, with a CAGR of X% from 2012 to 2023. At the same time, Japan (X%) displayed positive paces of growth. While the share of China (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Japan (X p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest aromatic alcohols supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was held by Japan ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in China totaled X%.

Export Prices by Country

In 2023, the export price in Eastern Asia amounted to $X per ton, which is down by X% against the previous year. In general, the export price showed a mild decline. The growth pace was the most rapid in 2016 an increase of X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2022, and then declined significantly in the following year.

Average prices varied noticeably amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was China ($X per ton), while Japan stood at $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%).

Aromatic Alcohols Imports

Imports in Eastern Asia

In 2023, supplies from abroad of aromatic alcohols and their derivatives decreased by X% to X tons, falling for the second consecutive year after two years of growth. The total import volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

In value terms, aromatic alcohols imports contracted 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 years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when imports increased by X%. Over the period under review, imports attained the maximum at $X in 2022, and then declined in the following year.

Imports by Country

The purchases of the three major importers of aromatic alcohols and their derivatives, namely Japan, South Korea and China, represented more than two-thirds of total import. It was distantly followed by Taiwan (Chinese) (X tons), generating a X% share of total imports.

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

In value terms, the largest aromatic alcohols importing markets in Eastern Asia were Japan ($X), South Korea ($X) and China ($X), with a combined X% share of total imports.

South Korea, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of 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

In 2023, the import price in Eastern Asia amounted to $X per ton, almost unchanged from the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2022 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton, and then dropped in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform