ASEAN: Market for Double Or Complex Silicates 2024

Market Size for Double Or Complex Silicates in ASEAN

The ASEAN double or complex silicates market amounted to $X in 2021, therefore, remained relatively stable against the previous year. Overall, consumption recorded modest growth. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Double Or Complex Silicates in ASEAN

In value terms, double or complex silicates production reduced slightly to $X in 2021 estimated in export price. Over the period under review, production saw resilient growth. The growth pace was the most rapid in 2018 with an increase of 185%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Exports of Double Or Complex Silicates

Exports in ASEAN

In 2021, approx. X tons of double or complex silicates were exported in ASEAN; with an increase of 49% compared with 2020 figures. In general, exports recorded prominent growth. The most prominent rate of growth was recorded in 2018 with an increase of 256%. The volume of export peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, double or complex silicates exports expanded remarkably to $X in 2021. Overall, exports continue to indicate buoyant growth. The growth pace was the most rapid in 2018 when exports increased by 346% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Malaysia dominates exports structure, finishing at X tons, which was approx. 90% of total exports in 2021. It was distantly followed by Thailand (X tons), mixing up a 7% share of total exports.

Malaysia was also the fastest-growing in terms of the double or complex silicates exports, with a CAGR of +46.0% from 2012 to 2021. Thailand (-5.5%) illustrated a downward trend over the same period. While the share of Malaysia (+81 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Thailand (-26.5 p.p.) displayed negative dynamics.

In value terms, Malaysia ($X) remains the largest double or complex silicates supplier in ASEAN, comprising 91% of total exports. The second position in the ranking was taken by Thailand ($X), with a 7.2% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Malaysia amounted to +12.5%.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, declining by -23.5% against the previous year. Overall, the export price saw a perceptible contraction. The most prominent rate of growth was recorded in 2017 an increase of 86%. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Malaysia totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+2.7%).

Imports of Double Or Complex Silicates

Imports in ASEAN

In 2021, after two years of growth, there was significant decline in supplies from abroad of double or complex silicates, when their volume decreased by -9.7% to X tons. The total import volume increased at an average annual rate of +1.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when imports increased by 33%. Over the period under review, imports attained the maximum at X tons in 2020, and then declined in the following year.

In value terms, double or complex silicates imports expanded significantly to $X in 2021. Total imports indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +75.2% against 2015 indices. The pace of growth appeared the most rapid in 2020 with an increase of 19% against the previous year. The level of import peaked in 2021 and is likely to see gradual growth in years to come.

Imports by Country

Indonesia represented the largest importer of double or complex silicates in ASEAN, with the volume of imports accounting for X tons, which was near 45% of total imports in 2021. Myanmar (X tons) held the second position in the ranking, distantly followed by the Philippines (X tons), Malaysia (X tons) and Thailand (X tons). All these countries together took approx. 49% share of total imports. Singapore (X tons) and Vietnam (X tons) took a minor share of total imports.

Indonesia experienced a relatively flat trend pattern with regard to volume of imports of double or complex silicates. At the same time, Myanmar (+15.8%) and Singapore (+8.6%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +15.8% from 2012-2021. The Philippines experienced a relatively flat trend pattern. By contrast, Thailand (-2.4%), Malaysia (-2.9%) and Vietnam (-14.3%) illustrated a downward trend over the same period. While the share of Myanmar (+22 p.p.) and Singapore (+1.7 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Thailand (-3 p.p.), Malaysia (-3.7 p.p.), Vietnam (-6.6 p.p.) and Indonesia (-9.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X), Indonesia ($X) and Thailand ($X) were the countries with the highest levels of imports in 2021, with a combined 75% share of total imports.

Malaysia, with a CAGR of +19.0%, 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, surging by 21% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.7%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Malaysia ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+22.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform