ASEAN: Lithium Battery Market 2024

Lithium Battery Market Size in ASEAN

In 2021, the ASEAN lithium battery market decreased by -4% to $X for the first time since 2017, thus ending a three-year rising trend. Overall, consumption showed a pronounced descent. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Lithium Battery Production in ASEAN

In value terms, lithium battery production soared to $X in 2021 estimated in export price. In general, production, however, continues to indicate a pronounced shrinkage. The pace of growth appeared the most rapid in 2018 when the production volume increased by 77%. The level of production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Lithium Battery Exports

Exports in ASEAN

In 2021, lithium battery exports in ASEAN totaled X tons, picking up by 5.1% on the previous year's figure. Total exports indicated temperate growth from 2012 to 2021: its volume increased at an average annual rate of +2.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -5.6% against 2018 indices. The most prominent rate of growth was recorded in 2014 when exports increased by 80% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, lithium battery exports expanded notably to $X in 2021. Total exports indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of 70%. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Indonesia (X tons) and Singapore (X tons) dominates exports structure, together comprising 92% of total exports. The following exporters - Malaysia (X tons) and Vietnam (X tons) - together made up 7.2% of total exports.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +37.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest lithium battery supplying countries in ASEAN were Singapore ($X), Indonesia ($X) and Malaysia ($X), with a combined 94% share of total exports. These countries were followed by Vietnam, which accounted for a further 4.5%.

In terms of the main exporting countries, Vietnam, with a CAGR of +36.7%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, with an increase of 5.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.3%. The growth pace was the most rapid in 2015 an increase of 20%. 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.

Prices varied noticeably country of origin: 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 Indonesia (+2.7%), while the other leaders experienced mixed trends in the export price figures.

Lithium Battery Imports

Imports in ASEAN

In 2021, after three years of growth, there was significant decline in purchases abroad of lithium cells ans batteries, when their volume decreased by -5% to X tons. Over the period under review, imports, however, continue to indicate prominent growth. The most prominent rate of growth was recorded in 2016 when imports increased by 133% against the previous year. Over the period under review, imports attained the maximum at X tons in 2020, and then declined in the following year.

In value terms, lithium battery imports expanded to $X in 2021. Overall, imports, however, continue to indicate a mild increase. The pace of growth appeared the most rapid in 2016 when imports increased by 101% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Singapore (X tons) was the main importer of lithium cells ans batteries, achieving 45% of total imports. Vietnam (X tons) held a 26% share (based on physical terms) of total imports, which put it in second place, followed by Malaysia (17%) and Thailand (5.2%). The following importers - Indonesia (X tons) and the Philippines (X tons) - each amounted to a 6.6% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +59.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest lithium battery importing markets in ASEAN were Singapore ($X), Vietnam ($X) and Malaysia ($X), with a combined 87% share of total imports.

Vietnam, with a CAGR of +48.5%, 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, picking up by 8.8% against the previous year. In general, the import price, however, showed a pronounced descent. The most prominent rate of growth was recorded in 2017 when the import price increased by 11%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in the Philippines ($X per ton) and Vietnam ($X per ton), while Singapore ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+11.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform