ASEAN: Abrasives Market 2024

Abrasives Market Size in ASEAN

The ASEAN abrasives market was estimated at $X in 2021, growing by 8.8% against the previous year. In general, consumption, however, showed a mild slump. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Abrasives Production in ASEAN

In value terms, abrasives production stood at $X in 2021 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 40%. The level of production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Abrasives Exports

Exports in ASEAN

In 2021, approx. X tons of abrasives (natural) were exported in ASEAN; increasing by 14% compared with the previous year. Over the period under review, exports continue to indicate resilient growth. The growth pace was the most rapid in 2018 when exports increased by 55% against the previous year. The volume of export peaked in 2021 and is likely to see gradual growth in the near future.

In value terms, abrasives exports soared to $X in 2021. Overall, exports enjoyed a resilient expansion. The pace of growth was the most pronounced in 2017 with an increase of 50% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Exports by Country

Indonesia dominates exports structure, reaching X tons, which was approx. 89% of total exports in 2021. It was distantly followed by Malaysia (X tons), constituting a 7.1% share of total exports. Singapore (X tons) followed a long way behind the leaders.

Exports from Indonesia increased at an average annual rate of +10.1% from 2012 to 2021. At the same time, Malaysia (+14.7%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +14.7% from 2012-2021. Singapore experienced a relatively flat trend pattern. While the share of Indonesia (+7.8 p.p.) and Malaysia (+2.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Singapore (-4.6 p.p.) displayed negative dynamics.

In value terms, Indonesia ($X) remains the largest abrasives supplier in ASEAN, comprising 62% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 22% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Indonesia amounted to +10.6%. In the other countries, the average annual rates were as follows: Malaysia (+17.2% per year) and Singapore (+2.2% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, rising by 7.9% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 34% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+2.7%), while the other leaders experienced more modest paces of growth.

Abrasives Imports

Imports in ASEAN

In 2021, the amount of abrasives (natural) imported in ASEAN skyrocketed to X tons, increasing by 24% compared with 2020 figures. Over the period under review, imports, however, showed a noticeable setback. The pace of growth was the most pronounced in 2019 with an increase of 38%. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, abrasives imports skyrocketed to $X in 2021. Overall, imports, however, recorded a mild setback. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Indonesia (X tons), Malaysia (X tons) and Thailand (X tons) represented roughly 71% of total imports in 2021. Singapore (X tons) held a 13% share (based on physical terms) of total imports, which put it in second place, followed by Cambodia (8%) and Vietnam (5.4%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Cambodia (with a CAGR of +14.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest abrasives importing markets in ASEAN were Indonesia ($X), Thailand ($X) and Malaysia ($X), with a combined 64% share of total imports. These countries were followed by Singapore, Vietnam and Cambodia, which together accounted for a further 32%.

Cambodia, with a CAGR of +22.0%, recorded the highest rates of growth with regard to the value of imports, among 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 2021, the import price in ASEAN amounted to $X per ton, growing by 3.7% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the import price increased by 15% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cambodia (+6.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform