ASEAN: Phosphinates And Phosphonates Market 2024

Phosphinates And Phosphonates Market Size in ASEAN

The ASEAN phosphinates and phosphonates market reduced to $X in 2022, dropping by -9.4% against the previous year. In general, consumption showed a mild slump. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Phosphinates And Phosphonates Production in ASEAN

In value terms, phosphinates and phosphonates production fell to $X in 2022 estimated in export price. In general, production saw a perceptible curtailment. The pace of growth appeared the most rapid in 2019 with an increase of 35% against the previous year. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Phosphinates And Phosphonates Exports

Exports in ASEAN

In 2022, approx. X tons of phosphinates (hypophosphites) and phosphonates (phosphites) were exported in ASEAN; increasing by 7.4% against the year before. Overall, exports, however, continue to indicate a noticeable shrinkage. The pace of growth appeared the most rapid in 2018 with an increase of 15%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, phosphinates and phosphonates exports surged to $X in 2022. Over the period under review, exports, however, continue to indicate a slight downturn. The pace of growth was the most pronounced in 2014 with an increase of 20% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Malaysia represented the key exporting country with an export of about X tons, which amounted to 59% of total exports. Singapore (X tons) took a 26% share (based on physical terms) of total exports, which put it in second place, followed by Thailand (13%). Indonesia (X tons) held a minor share of total exports.

Exports from Malaysia increased at an average annual rate of +3.0% from 2012 to 2022. At the same time, Thailand (+66.6%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +66.6% from 2012-2022. By contrast, Singapore (-3.0%) and Indonesia (-26.3%) illustrated a downward trend over the same period. Malaysia (+25 p.p.) and Thailand (+13 p.p.) significantly strengthened its position in terms of the total exports, while Singapore and Indonesia saw its share reduced by -1.6% and -35.5% from 2012 to 2022, respectively.

In value terms, Singapore ($X), Malaysia ($X) and Thailand ($X) constituted the countries with the highest levels of exports in 2022, with a combined 98% share of total exports.

Thailand, with a CAGR of +57.5%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, increasing by 12% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2021 when the export price increased by 21% against the previous year. The level of export peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+5.1%), while the other leaders experienced mixed trends in the export price figures.

Phosphinates And Phosphonates Imports

Imports in ASEAN

In 2022, after two years of growth, there was decline in overseas purchases of phosphinates (hypophosphites) and phosphonates (phosphites), when their volume decreased by -1.5% to X tons. The total import volume increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 28% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, phosphinates and phosphonates imports expanded to $X in 2022. Total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +50.1% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of 46% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

Malaysia was the largest importing country with an import of around X tons, which finished at 55% of total imports. Vietnam (X tons) held a 12% share (based on physical terms) of total imports, which put it in second place, followed by Indonesia (12%), Thailand (11%) and Singapore (9.6%).

Imports into Malaysia increased at an average annual rate of +1.7% from 2012 to 2022. At the same time, Vietnam (+38.7%), Thailand (+10.2%) and Indonesia (+7.4%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +38.7% from 2012-2022. By contrast, Singapore (-6.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Vietnam, Thailand and Indonesia increased by +11, +5.4 and +4.1 percentage points, respectively.

In value terms, Malaysia ($X) constitutes the largest market for imported phosphinates (hypophosphites) and phosphonates (phosphites) in ASEAN, comprising 46% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 17% share of total imports. It was followed by Thailand, with a 15% share.

In Malaysia, phosphinates and phosphonates imports increased at an average annual rate of +3.0% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Indonesia (+12.9% per year) and Thailand (+19.6% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, rising by 4.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.3%. The most prominent rate of growth was recorded in 2021 when the import price increased by 39% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+8.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform