ASEAN: Lithium Carbonate Market 2024

Lithium Carbonate Market Size in ASEAN

In 2021, the ASEAN lithium carbonate market increased by 47% to $X for the first time since 2017, thus ending a three-year declining trend. Overall, consumption, however, showed a noticeable descent. Over the period under review, the market attained the maximum level at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Lithium Carbonate Production in ASEAN

In value terms, lithium carbonate production dropped to $X in 2021 estimated in export price. In general, production, however, recorded a significant increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by 610% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Lithium Carbonate Exports

Exports in ASEAN

Lithium carbonate exports reduced markedly to X tons in 2021, with a decrease of -64.3% compared with the previous year. In general, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2016 when exports increased by 445%. The volume of export peaked at X tons in 2020, and then declined significantly in the following year.

In value terms, lithium carbonate exports declined notably to $X in 2021. Overall, exports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2016 with an increase of 369% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Thailand prevails in exports structure, accounting for X tons, which was near 92% of total exports in 2021. It was distantly followed by Singapore (X tons), achieving a 6.9% share of total exports.

Thailand was also the fastest-growing in terms of the lithium carbonates exports, with a CAGR of +71.7% from 2012 to 2021. At the same time, Singapore (+2.7%) displayed positive paces of growth. Thailand (+85 p.p.) significantly strengthened its position in terms of the total exports, while Singapore saw its share reduced by -52.8% from 2012 to 2021, respectively.

In value terms, Thailand ($X) remains the largest lithium carbonate supplier in ASEAN, comprising 74% of total exports. The second position in the ranking was taken by Singapore ($X), with a 25% share of total exports.

In Thailand, lithium carbonate exports expanded at an average annual rate of +72.3% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, picking up by 15% against the previous year. Overall, the export price, however, continues to indicate a abrupt decline. The growth pace was the most rapid in 2014 when the export price increased by 61%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the export prices remained at a somewhat 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 amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+0.4%).

Lithium Carbonate Imports

Imports in ASEAN

In 2021, purchases abroad of lithium carbonates was finally on the rise to reach X tons after three years of decline. In general, imports, however, recorded a abrupt contraction. The most prominent rate of growth was recorded in 2014 with an increase of 99%. The volume of import peaked at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, lithium carbonate imports surged to $X in 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when imports increased by 99%. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

Thailand represented the main importer of lithium carbonates in ASEAN, with the volume of imports accounting for X tons, which was near 45% of total imports in 2021. Indonesia (X tons) took the second position in the ranking, followed by Malaysia (X tons) and Vietnam (X tons). All these countries together held near 54% share of total imports.

Imports into Thailand decreased at an average annual rate of -12.9% from 2012 to 2021. At the same time, Indonesia (+17.7%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +17.7% from 2012-2021. By contrast, Malaysia (-8.7%) and Vietnam (-9.2%) illustrated a downward trend over the same period. Indonesia (+20 p.p.) significantly strengthened its position in terms of the total imports, while Thailand saw its share reduced by -19.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X), Malaysia ($X) and Indonesia ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 88% share of total imports.

Among the main importing countries, Indonesia, with a CAGR of +24.3%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2021, jumping by 15% against the previous year. Over the period under review, the import price showed a remarkable increase. The pace of growth appeared the most rapid in 2017 when the import price increased by 29% against the previous year. The level of import peaked in 2021 and is expected to retain 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 ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+19.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform