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CCM Data & Primary Intelligence

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CCM Data & Primary Intelligence Description: Driven by rapid development of domestic flavour industry, Chinese myrcene industry witnessed fast development in the past few years with more enterprises engaged in the production in China. In addition, half of Chinese myrcene was ever exported. However, with increasing demand from domestic market, the degree of dependence of myrcene on export is dropping. After detailed export analysis of myrcene in 2002~H1 2005, CCM will give estimate of myrcene export in 2009 and major influencing factors for the changes of export. After recent years’ development, the consumption fields of myrcene have taken great changes in the past few years. In this report, CCM will figure out the current consumption volume and share in each field, and find out major end users of myrcene in China. Besides focuses above, CCM will also provide you an insightful analysis on other following aspects: - China’s situation of myrcene supply in 2009 and the first half of 2010 - Price of myrcene in the past years and current price - Raw material supply of myrcene - Key factors and driven forces for the development of myrcene in China - Forecast on production, export and consumption of myrcene in the next 5~10 years in China - Detailed introduction to all active myrcene producers in China Main content: No.

Content

Page

Executive summary

1

Methodology & sources

2

I

Production and market information

5

I-1

Production of myrcene in the past years

5

I-2

Price of myrcene in the past years

6

I-3

Supply of myrcene in China

7

I-4

Import & export analysis of myrcene

8

I-4.1

Export situation in 2002~H1 2005

8

I-4.2

Export situation in 2009

11

I-5

Consumption pattern of myrcene

12

I-5.1

Market size and market share of myrcene

12

I-5.2

Brief introduction to major derivatives of myrcene

13

I-5.2.1

Ambrotone

13

I-5.2.2

Citronellal

13

I-5.2.3

Myrac aldehyde

14

I-5.2.4

Myrcenol

14

I-5.2.5

Lyral

15

I-6

Brief introduction to raw material supply of myrcene

16

I-7

Key factors and driven forces for fevelopment of myrcene in China

17

I-8

Future forecast on myrcene in the next 5-10 years

19

I-9

Conclusion

21

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CCM Data & Primary Intelligence II

Myrcene producer profiles in China

22

II-1

Jiangxi Shuinan Natural Fragrance Factory

22

0

II-11

Jiangxi Jishui Huakang Natural Perfume Chemical Plant

31

Executive summary: In China, there are two grades of myrcene, which are XX% Grade and XX% Grade. Along with the bloom of β-pinene industry in China especially in recent 10 years, myrcene industry has been developing fast. Total capacity of domestic myrcene amounts to XXt/a by 2009. In 2009, the national output of GT totals XX tonnes. In 2009, there are XX active manufacturers of commercial myrcene in China. Among them, Jiangxi Shuinan, Jiangxi Xinghua and Xiamen Doingcom are the top three players, with total output in 2009 amounting to XX tonnes and accounting for XX% of national output. In China, there is no import of myrcene from overseas market for its sufficient self-supply. At present, China is one of the top exporters of myrcene in the world and Spain is the largest importer of Chinese myrcene. China’s export volume of myrcene has maintained rapid growth in recent years, especially from 2005 to 2008. In 2009, the export volume of myrcene reaches about XX tonnes, decreasing much compared with that in 2008 owing to the influence of global financial crisis. With the world’s economic recovery, international demand for Chinese myrcene is predicted to increase slowly in the next years. But the export of myrcene will gradually face the challenge of domestic demand with the rise of derivative industries in China. All myrcene is used to synthesize flavours for it cannot be applied directly. The apparent consumption of myrcene is up to XX tonnes in 2009, accounting for about XX% of domestic output. The derivatives of myrcene are comprised of ambrotone, citronellal, myrac aldehyde, myrcenol, lyral, linalool, geraniol, nerol, etc. Ambrotone, citronellal and myrac aldehyde are the top three consumers of myrcene in 2009, accounting for XX%, XX% and XX% of total domestic consumption volume respectively. Character of CCM' Report: The aim of this report is to provide powerful assistance to the strategy group and the management team in making correct decision as how to penetrate the ever-increasing China market and how to catch the maximum commercial opportunities. The report is formulated independently by CCM’s professional market researchers, based on the first-hand and primary data which are analyzed by scientific methodology, confirmed with both manufacturers/end users/traders and legal authorities, and presented in a logic way. Sample pages:

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I-2 Price of myrcene in the past years The price of myrcene is comprised of basic fees and raw materials’ costs. Basic fees include rare fluctuation. While as a pyrolysis product of β-pinene, the price of myrcene will change according to that of β-pinene. Usually price growth of β-pinene will drive the price of myrcene up. In other words, because of increased cost of raw material, there is without question myrcene producers will raise the price. In 2005, the price of β-pinene went up fast and ultimately with double cost as that at the beginning of the year. Though the price of myrcene does not doubled as that of β-pinene, it reaches the peak at the beginning of June 2010 by USD4,173/t. Table I-2.1 Price situation of myrcene in China, 2002~2009 Year

Price of myrcene, USD/t

2002~2003

966~1,208

2004~2006

1,235~2,222

2007

3,035~3,049

2008

3,559~3,703

2009

4,026~4,173

Source: CCM International


I-3 Supply of myrcene in China According to the various sources as of 9 June 2010, there are 11 active producers of myrcene, 5 more than that in Jan. 2006. Among them, only Jiangxi Jishui Huakang Natural Perfume Chemical Plant is established in 2010. In addition, except for Zhejiang Xinhua, Jiaxing Flavor and Jiangxi Huachen Aromatic Technology Inc., the other eight producers are engaged in production of pinene at the same time and their β-pinene products are basically taken as raw materials of their own myrcene production. Among them, there are six engaged in the production of GT. Product info of these producers is listed in the following table. Table I-3-1 Myrcene information of active producers, 2009 No.

English name

Location

Capacity’09

Output'09

(t/a)

(tonne)

Current price (USD/t)

1

Jiangxi Shuinan Natural Fragrance Factory

Jiangxi

3,000

2,000

4,102~4,395

2

Jiangxi Xinghua Natural Spice Co., Ltd.

Jiangxi

3,000

2,000

N/A

3

Xiamen Doingcom Chemical Company Limited

Fujian

2,000

1,800

N/A

4

Guangdong Songlin Perfume Co., Ltd.

Guangdong

4,000

1,600

N/A

5

Jiangxi Huachen Aromatic Technology Inc.

Jiangxi

3,200

1,500

N/A

6

Zhejiang Jiaxing Flavour Plant

Zhejiang

1,500

1,000

3,956

7

Jiangxi Huayu Aromatic Technology Inc.

Jiangxi

2,000

1,000

N/A

8

Zhejiang Xinhua Chemicals Co., Ltd.

Zhejiang

1,000

700

4,249

9

Guangdong Deqing Glorychem Co., Ltd.

Guangdong

600

300

4,395

10

Xinhui Overseas Chinese Industry Development

Guangdong

500

200

N/A

20,800

12,100

Co., Ltd. Total

Note: the current price refers to the quote at the beginning of June 2010 Source: CCM International

The table above shows that most of the active producers of myrcene are located in Jiangxi, Guangdong and Fujian for these provinces are producing regions of PE-based turpentine with high content of β-pinene. Details information of producers has been recorded in this report in the separate part: Myrcene producer profiles in China


I-5 Consumption pattern of myrcene I-5.1 Market size and market share of myrcene In China, myrcene cannot be used directly. What’s more, it cannot be stocked for a certain period even months, otherwise, it will turn to be terpene resin or be oxidated. Basically, all myrcene is used to synthesize flavours. In 2009, domestic output of myrcene is 12,100 tonnes and export volume is estimated at 4,800 tonnes. No myrcene is imported in 2009. Therefore, the apparent consumption of myrcene reaches 7,300 tonnes in 2009. Consumption pattern of myrcene is analyzed based on the apparent consumption of 2009. As known to the whole industry, not all derivatives we mentioned in this chapter can be made from myrcene. Indeed, even the same kind of derivatives can be produced directly form β-pinene, or from other chemical or natural materials. If the primary source is β-pinene, myrcene will appear as intermediate product and will not be separated during the process. In this chapter, the market size and market share of myrcene in many derivatives mentioned are derivatives produced from myrcene directly, those made from β-pinene or other materials are not included. As a crackate of β-pinene, application fields of myrcene are quite similar with those of β-pinene. Myrcene is mainly applied to producing ambrotone, citronellal, myracaldehyde, myrcenol, lyral and some other kinds of synthetic perfume. In China, market of perfumes, especially popular perfumes vary year by year. Table I-5.1-1 Market size and market share of myrcene in different derivatives, 2009 Derivatives

Market size By consumption

Market share

By value (USD)

volume (tonne)

By consumption

By value

volume

Ambrotone

3,000

12.15

41.09%

42.47%

Citronellal

1,300

5.23

17.81%

18.28%

Myracaldehyde

1,200

4.85

16.44%

16.95%

Myrcenol

800

2.23

10.96%

7.79%

Lyral

700

2.92

9.59%

10.21%

Others

300

1.23

4.11%

4.30%

7,300

28.61

100.00%

100.00%

Total Source: CCM International


Production and Market of Myrcene in China