ASEAN: Bauxite Market 2024

Bauxite Market Size in ASEAN

The ASEAN bauxite market reduced to $X in 2022, with a decrease of -14.9% against the previous year. Over the period under review, consumption, however, enjoyed tangible growth. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Bauxite Production in ASEAN

In value terms, bauxite production expanded to $X in 2022 estimated in export price. Overall, production saw a slight increase. The most prominent rate of growth was recorded in 2014 when the production volume increased by 113%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Bauxite Exports

Exports in ASEAN

In 2022, overseas shipments of bauxite increased by 126% to X tons, rising for the seventh year in a row after two years of decline. Over the period under review, exports saw a temperate increase. The pace of growth appeared the most rapid in 2017 with an increase of 490% against the previous year. The volume of export peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, bauxite exports skyrocketed to $X in 2022. In general, exports saw a buoyant increase. The pace of growth appeared the most rapid in 2017 when exports increased by 453% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

In 2022, Indonesia (X tons) was the main exporter of bauxite in ASEAN, achieving 99% of total export.

Indonesia was also the fastest-growing in terms of the bauxite exports, with a CAGR of +4.4% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) also remains the largest bauxite supplier in ASEAN.

From 2012 to 2022, the average annual growth rate of value in Indonesia totaled +8.9%.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, picking up by 2.2% against the previous year. Export price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, bauxite export price increased by +12.6% against 2020 indices. The growth pace was the most rapid in 2014 when the export price increased by 80%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Indonesia.

From 2012 to 2022, the rate of growth in terms of prices for Indonesia amounted to +4.3% per year.

Bauxite Imports

Imports in ASEAN

In 2022, the amount of bauxite imported in ASEAN reached X tons, leveling off at the previous year's figure. In general, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 35%. Over the period under review, imports reached the maximum at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, bauxite imports rose to $X in 2022. Total imports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +2.5% 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 +96.0% against 2015 indices. The pace of growth was the most pronounced in 2021 with an increase of 33% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in years to come.

Imports by Country

Thailand represented the main importer of bauxite in ASEAN, with the volume of imports finishing at X tons, which was approx. 49% of total imports in 2022. It was distantly followed by Malaysia (X tons), Vietnam (X tons) and Indonesia (X tons), together mixing up a 49% share of total imports.

Imports into Thailand decreased at an average annual rate of -3.2% from 2012 to 2022. At the same time, Indonesia (+18.7%), Vietnam (+7.3%) and Malaysia (+6.7%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +18.7% from 2012-2022. Malaysia (+9.3 p.p.), Vietnam (+8.5 p.p.) and Indonesia (+7.1 p.p.) significantly strengthened its position in terms of the total imports, while Thailand saw its share reduced by -24.6% from 2012 to 2022, respectively.

In value terms, Thailand ($X) constitutes the largest market for imported bauxite in ASEAN, comprising 50% of total imports. The second position in the ranking was taken by Malaysia ($X), with an 18% share of total imports. It was followed by Vietnam, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Thailand was relatively modest. In the other countries, the average annual rates were as follows: Malaysia (+5.0% per year) and Vietnam (+6.0% per year).

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, with an increase of 2% against the previous year. Import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, bauxite import price increased by +5.0% against 2018 indices. The pace of growth appeared the most rapid in 2017 an increase of 37% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+4.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform