ASEAN: Cyclic Hydrocarbons Market 2024

Cyclic Hydrocarbons Market Size in ASEAN

In 2023, the ASEAN cyclic hydrocarbons market decreased by X% to $X, falling for the third consecutive year after three years of growth. The market value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2023, consumption remained at a lower figure.

Cyclic Hydrocarbons Production in ASEAN

In value terms, cyclic hydrocarbons production reduced slightly to $X in 2023 estimated in export price. In general, production continues to indicate a prominent expansion. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. The level of production peaked at $X in 2022, and then declined in the following year.

Cyclic Hydrocarbons Exports

Exports in ASEAN

For the third year in a row, ASEAN recorded growth in overseas shipments of other cyclic hydrocarbons, which increased by X% to X tons in 2023. Overall, exports recorded a buoyant expansion. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2023, the exports failed to regain momentum.

In value terms, cyclic hydrocarbons exports reduced to $X in 2023. Over the period under review, exports saw prominent growth. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2022 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

Singapore dominates exports structure, amounting to X tons, which was near X% of total exports in 2023. Indonesia (X tons) followed a long way behind the leaders.

Singapore was also the fastest-growing in terms of the other cyclic hydrocarbons exports, with a CAGR of X% from 2012 to 2023. At the same time, Indonesia (X%) displayed positive paces of growth. While the share of Singapore (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) remains the largest cyclic hydrocarbons supplier in ASEAN, comprising X% of total exports. The second position in the ranking was held by Indonesia ($X), with a X% share of total exports.

In Singapore, cyclic hydrocarbons exports expanded at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2023, reducing by X% against the previous year. Over the period under review, the export price showed a deep reduction. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 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 Indonesia ($X per ton), while Singapore stood at $X per ton.

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

Cyclic Hydrocarbons Imports

Imports in ASEAN

In 2023, supplies from abroad of other cyclic hydrocarbons decreased by X% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, imports recorded a deep setback. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2023, the growth of imports remained at a lower figure.

In value terms, cyclic hydrocarbons imports contracted significantly to $X in 2023. In general, imports showed a abrupt decrease. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, Indonesia (X tons) and Thailand (X tons) were the key importers of other cyclic hydrocarbons in ASEAN, together creating X% of total imports. Myanmar (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Malaysia (X%) and Vietnam (X%). Singapore (X tons), Lao People's Democratic Republic (X tons) and Brunei Darussalam (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Brunei Darussalam (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cyclic hydrocarbons importing markets in ASEAN were Indonesia ($X), Thailand ($X) and Malaysia ($X), with a combined X% share of total imports. Singapore, Myanmar, Vietnam, Brunei Darussalam and Lao People's Democratic Republic lagged somewhat behind, together accounting for a further X%.

Brunei Darussalam, with a CAGR of X%, saw the highest rates of growth with regard to 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

The import price in ASEAN stood at $X per ton in 2023, reducing by X% against the previous year. Import price indicated a tangible increase from 2012 to 2023: its price 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, cyclic hydrocarbons import price increased by X% against 2019 indices. The pace of growth was the most pronounced in 2019 when the import price increased by X%. The level of import peaked at $X per ton in 2022, 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 Singapore ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform