ASEAN: Market for Carnallite, Sylvite and Other Crude Natural Potassium Salts, Potassium Magnesium Sulphate and Mixtures of Potassic Fertilisers 2024

Market Size for Carnallite, Sylvite and Other Crude Natural Potassium Salts, Potassium Magnesium Sulphate and Mixtures of Potassic Fertilisers in ASEAN

For the third year in a row, the ASEAN market for carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers recorded growth in sales value, which increased by 3.5% to $X in 2022. Over the period under review, consumption saw a deep slump. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Production of Carnallite, Sylvite and Other Crude Natural Potassium Salts, Potassium Magnesium Sulphate and Mixtures of Potassic Fertilisers in ASEAN

In value terms, production of carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers amounted to $X in 2022 estimated in export price. In general, production enjoyed a temperate expansion. The pace of growth appeared the most rapid in 2013 with an increase of 334%. As a result, production reached the peak level of $X. From 2014 to 2022, production of growth failed to regain momentum.

Exports of Carnallite, Sylvite and Other Crude Natural Potassium Salts, Potassium Magnesium Sulphate and Mixtures of Potassic Fertilisers

Exports in ASEAN

After two years of growth, shipments abroad of carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers decreased by -12.7% to X tons in 2022. Over the period under review, exports, however, enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2017 when exports increased by 337% against the previous year. Over the period under review, the exports of attained the maximum at X tons in 2021, and then reduced in the following year.

In value terms, exports of carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers contracted to $X in 2022. In general, exports saw a perceptible slump. The pace of growth appeared the most rapid in 2017 when exports increased by 222% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Malaysia represented the main exporter of carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers in ASEAN, with the volume of exports recording X tons, which was approx. 59% of total exports in 2022. Vietnam (X tons) took the second position in the ranking, followed by Indonesia (X tons) and Lao People's Democratic Republic (X tons). All these countries together held near 38% share of total exports. Thailand (X tons) held a relatively small share of total exports.

Exports from Malaysia increased at an average annual rate of +7.2% from 2012 to 2022. At the same time, Lao People's Democratic Republic (+12.4%), Thailand (+9.1%), Indonesia (+4.0%) and Vietnam (+2.5%) displayed positive paces of growth. Moreover, Lao People's Democratic Republic emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +12.4% from 2012-2022. While the share of Malaysia (+6.3 p.p.) and Lao People's Democratic Republic (+3.2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Indonesia (-2.7 p.p.) and Vietnam (-6.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) remains the largest carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers supplier in ASEAN, comprising 56% of total exports. The second position in the ranking was held by Vietnam ($X), with an 18% share of total exports. It was followed by Indonesia, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Malaysia totaled -3.6%. In the other countries, the average annual rates were as follows: Vietnam (-5.2% per year) and Indonesia (-0.3% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, waning by -2.2% against the previous year. Over the period under review, the export price showed a abrupt setback. The most prominent rate of growth was recorded in 2016 when the export price increased by 12%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lao People's Democratic Republic (+3.2%), while the other leaders experienced a decline in the export price figures.

Imports of Carnallite, Sylvite and Other Crude Natural Potassium Salts, Potassium Magnesium Sulphate and Mixtures of Potassic Fertilisers

Imports in ASEAN

In 2022, supplies from abroad of carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers decreased by -16% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports showed a pronounced slump. The pace of growth was the most pronounced in 2021 with an increase of 100%. Over the period under review, imports of hit record highs at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers declined to $X in 2022. In general, imports showed a abrupt decline. The pace of growth was the most pronounced in 2021 with an increase of 93% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Malaysia represented the key importing country with an import of around X tons, which recorded 59% of total imports. It was distantly followed by Indonesia (X tons), Vietnam (X tons) and Cambodia (X tons), together achieving a 32% share of total imports. Thailand (X tons) and Lao People's Democratic Republic (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers imports into Malaysia stood at -6.3%. At the same time, Lao People's Democratic Republic (+30.1%), Cambodia (+21.7%), Thailand (+15.2%) and Indonesia (+1.1%) displayed positive paces of growth. Moreover, Lao People's Democratic Republic emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +30.1% from 2012-2022. By contrast, Vietnam (-2.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Indonesia, Cambodia, Lao People's Democratic Republic and Thailand increased by +8, +4.8, +3.2 and +3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers importing markets in ASEAN were Malaysia ($X), Indonesia ($X) and Vietnam ($X), together accounting for 85% of total imports. Cambodia, Lao People's Democratic Republic and Thailand lagged somewhat behind, together comprising a further 13%.

Lao People's Democratic Republic, with a CAGR of +23.4%, recorded 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, rising by 13% against the previous year. Overall, the import price, however, showed a perceptible contraction. The pace of growth was the most pronounced in 2019 when the import price increased by 18%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (-1.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform