ASEAN: Carbides Market 2024

Carbides Market Size in ASEAN

The ASEAN carbides market contracted modestly to $X in 2022, declining by -3.9% against the previous year. In general, consumption saw a abrupt setback. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Carbides Production in ASEAN

In value terms, carbides production fell modestly to $X in 2022 estimated in export price. Over the period under review, production showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2021 when the production volume increased by 10%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Carbides Exports

Exports in ASEAN

In 2022, overseas shipments of carbides increased by 2% to X tons, rising for the second year in a row after two years of decline. Total exports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +8.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +25.5% against 2020 indices. The pace of growth appeared the most rapid in 2014 with an increase of 57%. The volume of export peaked in 2022 and is likely to continue growth in the immediate term.

In value terms, carbides exports soared to $X in 2022. Over the period under review, exports saw a resilient expansion. The most prominent rate of growth was recorded in 2018 with an increase of 48%. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the near future.

Exports by Country

Vietnam prevails in exports structure, amounting to X tons, which was approx. 88% of total exports in 2022. It was distantly followed by Indonesia (X tons), generating an 8% share of total exports. Singapore (X tons) followed a long way behind the leaders.

Vietnam was also the fastest-growing in terms of the carbides exports, with a CAGR of +36.1% from 2012 to 2022. At the same time, Indonesia (+23.3%) displayed positive paces of growth. By contrast, Singapore (-10.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Vietnam and Indonesia increased by +80 and +5.8 percentage points, respectively.

In value terms, Vietnam ($X) remains the largest carbides supplier in ASEAN, comprising 91% of total exports. The second position in the ranking was held by Indonesia ($X), with a 6.8% share of total exports.

In Vietnam, carbides exports increased at an average annual rate of +32.3% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (+27.9% per year) and Singapore (-15.8% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, picking up by 40% against the previous year. Over the last decade, it increased at an average annual rate of +2.7%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+3.8%), while the other leaders experienced a decline in the export price figures.

Carbides Imports

Imports in ASEAN

In 2022, supplies from abroad of carbides increased by 2.5% to X tons, rising for the second consecutive year after two years of decline. Overall, imports, however, continue to indicate a mild slump. The most prominent rate of growth was recorded in 2021 when imports increased by 14%. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, carbides imports expanded to $X in 2022. In general, imports, however, continue to indicate a mild contraction. The pace of growth was the most pronounced in 2021 when imports increased by 48%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Thailand (X tons), the Philippines (X tons), Singapore (X tons), Malaysia (X tons), Vietnam (X tons) and Indonesia (X tons) represented roughly 99% of total imports in 2022.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of +10.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Singapore ($X) and Malaysia ($X) were the countries with the highest levels of imports in 2022, with a combined 70% share of total imports.

Among the main importing countries, Thailand, with a CAGR of +5.0%, saw the highest growth rate of the value of imports, 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 2022, with an increase of 2% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 29% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; afterwards, it flattened through to 2022.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+4.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform