ASEAN: Activated Carbon Market 2024

Activated Carbon Market Size in ASEAN

The ASEAN activated carbon market declined to $X in 2022, standing approx. at the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the market value increased by 9.8%. Over the period under review, the market attained the maximum level at $X in 2021, and then dropped in the following year.

Activated Carbon Production in ASEAN

In value terms, activated carbon production reduced modestly to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by 11% against the previous year. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Activated Carbon Exports

Exports in ASEAN

In 2022, after two years of decline, there was growth in overseas shipments of activated carbon, when their volume increased by 1.7% to X tons. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 11%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, activated carbon exports expanded to $X in 2022. The total export value increased at an average annual rate of +3.2% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 with an increase of 25%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

The Philippines represented the main exporter of activated carbon in ASEAN, with the volume of exports recording X tons, which was near 53% of total exports in 2022. It was distantly followed by Indonesia (X tons), Malaysia (X tons), Vietnam (X tons) and Thailand (X tons), together mixing up a 45% share of total exports.

The Philippines experienced a relatively flat trend pattern with regard to volume of exports of activated carbon. At the same time, Vietnam (+7.7%) and Thailand (+3.0%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +7.7% from 2012-2022. Indonesia and Malaysia experienced a relatively flat trend pattern. From 2012 to 2022, the share of Vietnam increased by +5.3 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Philippines ($X) remains the largest activated carbon supplier in ASEAN, comprising 54% of total exports. The second position in the ranking was held by Indonesia ($X), with a 16% share of total exports. It was followed by Vietnam, with a 12% share.

In the Philippines, activated carbon exports expanded at an average annual rate of +3.7% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (+2.3% per year) and Vietnam (+7.0% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, growing by 2.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.7%. The most prominent rate of growth was recorded in 2018 when the export price increased by 18%. Over the period under review, the export prices reached the maximum in 2022 and is likely to see gradual growth in years to come.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Vietnam ($X per ton) and Thailand ($X per ton), while Indonesia ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+4.1%), while the other leaders experienced more modest paces of growth.

Activated Carbon Imports

Imports in ASEAN

In 2022, purchases abroad of activated carbon increased by 1% to X tons, rising for the second consecutive year after two years of decline. Total imports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +25.3% against 2020 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 24% against the previous year. The volume of import peaked in 2022 and is likely to continue growth in the immediate term.

In value terms, activated carbon imports rose significantly to $X in 2022. Total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +7.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +33.7% against 2020 indices. The growth pace was the most rapid in 2018 when imports increased by 23% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

The purchases of the six major importers of activated carbon, namely Indonesia, Malaysia, Vietnam, Thailand, the Philippines and Singapore, represented more than two-thirds of total import. It was distantly followed by Myanmar (X tons), creating a 4.6% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +42.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest activated carbon importing markets in ASEAN were Indonesia ($X), Thailand ($X) and Malaysia ($X), together accounting for 63% of total imports. Vietnam, Singapore, the Philippines and Myanmar lagged somewhat behind, together comprising a further 36%.

Myanmar, with a CAGR of +23.3%, 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

In 2022, the import price in ASEAN amounted to $X per ton, with an increase of 7.6% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 2022, the most notable rate of growth in terms of prices was attained by Singapore (+4.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform