ASEAN: Potassium Hydroxide Market 2024

Potassium Hydroxide Market Size in ASEAN

The ASEAN potassium hydroxide market stood at $X in 2022, rising by 3.7% against the previous year. Over the period under review, consumption, however, continues to indicate a slight increase. The level of consumption peaked in 2022 and is likely to see steady growth in years to come.

Potassium Hydroxide Production in ASEAN

In value terms, potassium hydroxide production rose to $X in 2022 estimated in export price. In general, production, however, saw a abrupt decrease. The pace of growth was the most pronounced in 2019 when the production volume increased by 34%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Potassium Hydroxide Exports

Exports in ASEAN

After three years of growth, shipments abroad of potassium hydroxide (caustic potash) decreased by -14.3% to X tons in 2022. Overall, exports, however, continue to indicate strong growth. The pace of growth appeared the most rapid in 2015 when exports increased by 158% against the previous year. The volume of export peaked at X tons in 2021, and then dropped in the following year.

In value terms, potassium hydroxide exports reduced to $X in 2022. Over the period under review, exports, however, posted a prominent increase. The most prominent rate of growth was recorded in 2015 when exports increased by 42%. The level of export peaked at $X in 2021, and then declined in the following year.

Exports by Country

In 2022, Malaysia (X tons) represented the key exporter of potassium hydroxide (caustic potash), comprising 69% of total exports. Thailand (X tons) held a 22% share (based on physical terms) of total exports, which put it in second place, followed by Singapore (8.6%).

Malaysia was also the fastest-growing in terms of the potassium hydroxide (caustic potash) exports, with a CAGR of +34.3% from 2012 to 2022. At the same time, Thailand (+7.9%) and Singapore (+4.1%) displayed positive paces of growth. From 2012 to 2022, the share of Malaysia increased by +51 percentage points.

In value terms, Malaysia ($X), Singapore ($X) and Thailand ($X) constituted the countries with the highest levels of exports in 2022, together accounting for 100% of total exports.

In terms of the main exporting countries, Malaysia, with a CAGR of +20.1%, 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

The export price in ASEAN stood at $X per ton in 2022, growing by 1.9% against the previous year. Overall, the export price, however, showed a abrupt decline. The most prominent rate of growth was recorded in 2016 when the export price increased by 14% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2013; however, from 2014 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 ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+2.0%), while the other leaders experienced a decline in the export price figures.

Potassium Hydroxide Imports

Imports in ASEAN

Potassium hydroxide imports declined to X tons in 2022, reducing by -8.9% against 2021 figures. Overall, imports, however, posted a strong expansion. The growth pace was the most rapid in 2013 when imports increased by 32%. The volume of import peaked at X tons in 2021, and then shrank in the following year.

In value terms, potassium hydroxide imports rose significantly to $X in 2022. Total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.1% 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 +55.1% against 2015 indices. The growth pace was the most rapid in 2021 when imports increased by 23%. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in years to come.

Imports by Country

Malaysia represented the key importing country with an import of around X tons, which accounted for 43% of total imports. Indonesia (X tons) took the second position in the ranking, followed by Singapore (X tons), Thailand (X tons), the Philippines (X tons) and Vietnam (X tons). All these countries together took near 56% share of total imports.

Imports into Malaysia increased at an average annual rate of +16.8% from 2012 to 2022. At the same time, Vietnam (+17.5%), Singapore (+9.3%) and Indonesia (+6.2%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +17.5% from 2012-2022. Thailand and the Philippines experienced a relatively flat trend pattern. Malaysia (+22 p.p.) and Vietnam (+3.1 p.p.) significantly strengthened its position in terms of the total imports, while Indonesia, the Philippines and Thailand saw its share reduced by -4.9%, -10.3% and -10.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X), Indonesia ($X) and Singapore ($X) were the countries with the highest levels of imports in 2022, together comprising 71% of total imports.

Malaysia, with a CAGR of +11.2%, saw the highest growth rate of 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

The import price in ASEAN stood at $X per ton in 2022, increasing by 22% against the previous year. Overall, the import price, however, showed a pronounced contraction. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Philippines ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+3.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform