ASEAN: Fluorspar Market 2024

Fluorspar Market Size in ASEAN

The ASEAN fluorspar market skyrocketed to $X in 2021, growing by 18% against the previous year. In general, consumption saw a significant expansion. Over the period under review, the market attained the peak level in 2021 and is likely to see gradual growth in the near future.

Fluorspar Production in ASEAN

In value terms, fluorspar production rose modestly to $X in 2021 estimated in export price. In general, production, however, continues to indicate strong growth. The growth pace was the most rapid in 2018 when the production volume increased by 146%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Fluorspar Exports

Exports in ASEAN

In 2021, overseas shipments of fluorspar decreased by -12.6% to X tons, falling for the second year in a row after eight years of growth. Over the period under review, exports, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2015 with an increase of 81%. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, fluorspar exports reduced to $X in 2021. Overall, exports, however, saw prominent growth. The most prominent rate of growth was recorded in 2015 with an increase of 120%. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Vietnam prevails in exports structure, resulting at X tons, which was near 84% of total exports in 2021. Myanmar (X tons) held a 7.9% share (based on physical terms) of total exports, which put it in second place, followed by Thailand (6.5%).

Vietnam was also the fastest-growing in terms of the fluorspar exports, with a CAGR of +16.1% from 2012 to 2021. Thailand (-1.8%) and Myanmar (-9.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Vietnam increased by +40 percentage points.

In value terms, Vietnam ($X) remains the largest fluorspar supplier in ASEAN, comprising 93% of total exports. The second position in the ranking was taken by Myanmar ($X), with a 3.6% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Vietnam totaled +21.5%. In the other countries, the average annual rates were as follows: Myanmar (-2.2% per year) and Thailand (-5.2% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, flattening at the previous year. Over the period under review, the export price, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2020 an increase of 43% against the previous year. As a result, the export price attained the peak level of $X per ton, and then shrank in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Vietnam ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Myanmar (+7.6%), while the other leaders experienced mixed trends in the export price figures.

Fluorspar Imports

Imports in ASEAN

Fluorspar imports skyrocketed to X tons in 2021, increasing by 18% against 2020 figures. In general, imports saw significant growth. The pace of growth appeared the most rapid in 2018 with an increase of 118% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the near future.

In value terms, fluorspar imports soared to $X in 2021. Overall, imports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 147%. The level of import peaked in 2021 and is likely to continue growth in years to come.

Imports by Country

Indonesia prevails in imports structure, recording X tons, which was approx. 77% of total imports in 2021. Thailand (X tons) ranks second in terms of the total imports with an 8.7% share, followed by Vietnam (6.9%) and Malaysia (6.1%).

Indonesia was also the fastest-growing in terms of the fluorspar imports, with a CAGR of +40.9% from 2012 to 2021. At the same time, Thailand (+34.7%) and Vietnam (+31.8%) displayed positive paces of growth. By contrast, Malaysia (-3.2%) illustrated a downward trend over the same period. Indonesia (+53 p.p.), Thailand (+4.6 p.p.) and Vietnam (+2.9 p.p.) significantly strengthened its position in terms of the total imports, while Malaysia saw its share reduced by -50.2% from 2012 to 2021, respectively.

In value terms, Indonesia ($X) constitutes the largest market for imported fluorspar in ASEAN, comprising 84% of total imports. The second position in the ranking was held by Vietnam ($X), with a 5.7% share of total imports. It was followed by Thailand, with a 5% share.

In Indonesia, fluorspar imports increased at an average annual rate of +42.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Vietnam (+31.6% per year) and Thailand (+21.4% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2021, with an increase of 24% against the previous year. Overall, the import price showed a relatively flat trend pattern. 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, the country with the highest price was Indonesia ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+0.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform