ASEAN: Hydrogen Chloride Market 2024

Hydrogen Chloride Market Size in ASEAN

In 2021, after two years of growth, there was significant decline in the ASEAN hydrogen chloride market, when its value decreased by -5.8% to $X. Over the period under review, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2020, and then dropped in the following year.

Hydrogen Chloride Production in ASEAN

In value terms, hydrogen chloride production declined modestly to $X in 2021 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by 15% against the previous year. Over the period under review, production reached the peak level at $X in 2020, and then shrank in the following year.

Hydrogen Chloride Exports

Exports in ASEAN

Hydrogen chloride exports skyrocketed to X tons in 2021, with an increase of 42% against the previous year. Overall, exports, however, showed a slight decline. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, hydrogen chloride exports surged to $X in 2021. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 58%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Singapore (X tons) and Thailand (X tons) were the main exporters of hydrogen chloride (hydrochloric acid) in 2021, resulting at approx. 43% and 37% of total exports, respectively. It was distantly followed by Malaysia (X tons), committing a 20% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Singapore (with a CAGR of +17.0%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Singapore ($X) remains the largest hydrogen chloride supplier in ASEAN, comprising 65% of total exports. The second position in the ranking was held by Thailand ($X), with a 21% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Singapore totaled +15.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (+0.8% per year) and Malaysia (-13.6% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, falling by -17.4% against the previous year. In general, the export price, however, recorded a notable increase. The pace of growth was the most pronounced in 2017 when the export price increased by 52% against the previous year. The level of export peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+0.8%), while the other leaders experienced a decline in the export price figures.

Hydrogen Chloride Imports

Imports in ASEAN

In 2021, hydrogen chloride imports in ASEAN skyrocketed to X tons, jumping by 34% on the previous year's figure. Overall, imports continue to indicate prominent growth. The pace of growth was the most pronounced in 2015 with an increase of 67%. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, hydrogen chloride imports skyrocketed to $X in 2021. Over the period under review, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 22% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Malaysia represented the largest importing country with an import of about X tons, which recorded 58% of total imports. Vietnam (X tons) ranks second in terms of the total imports with a 16% share, followed by Cambodia (5.9%), Indonesia (5.2%) and Singapore (4.6%). The following importers - Myanmar (X tons), Lao People's Democratic Republic (X tons), the Philippines (X tons) and Brunei Darussalam (X tons) - together made up 8.9% of total imports.

Imports into Malaysia increased at an average annual rate of +31.3% from 2012 to 2021. At the same time, Cambodia (+39.2%), Vietnam (+32.1%) and Myanmar (+1.9%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +39.2% from 2012-2021. By contrast, Singapore (-2.2%), the Philippines (-2.6%), Brunei Darussalam (-3.8%), Indonesia (-7.5%) and Lao People's Democratic Republic (-13.1%) illustrated a downward trend over the same period. While the share of Malaysia (+45 p.p.), Vietnam (+12 p.p.) and Cambodia (+5.1 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Myanmar (-3.9 p.p.), the Philippines (-4.5 p.p.), Brunei Darussalam (-5.1 p.p.), Singapore (-10.2 p.p.), Lao People's Democratic Republic (-16.9 p.p.) and Indonesia (-22.6 p.p.) displayed negative dynamics.

In value terms, Singapore ($X), Malaysia ($X) and Vietnam ($X) were the countries with the highest levels of imports in 2021, together accounting for 78% of total imports. These countries were followed by Cambodia, Indonesia, the Philippines, Myanmar, Brunei Darussalam and Lao People's Democratic Republic, which together accounted for a further 16%.

Cambodia, with a CAGR of +33.0%, 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

The import price in ASEAN stood at $X per ton in 2021, reducing by -14.3% against the previous year. Overall, the import price recorded a abrupt slump. The growth pace was the most rapid in 2020 an increase of 35%. Over the period under review, import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while Indonesia ($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 (-1.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform