ASEAN: Pyrites Market 2024

Pyrites Market Size in ASEAN

The ASEAN pyrites market rose markedly to $X in 2022, picking up by 13% against the previous year. The market value increased at an average annual rate of +3.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.

Pyrites Production in ASEAN

In value terms, pyrites production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 18%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Pyrites Exports

Exports in ASEAN

Pyrites exports soared to X tons in 2022, with an increase of 23% on the previous year's figure. Over the period under review, exports recorded a significant increase. The growth pace was the most rapid in 2014 when exports increased by 752%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, pyrites exports skyrocketed to $X in 2022. In general, exports posted significant growth. The pace of growth appeared the most rapid in 2014 when exports increased by 1,960% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

Lao People's Democratic Republic represented the key exporter of pyrites in ASEAN, with the volume of exports recording X tons, which was near 81% of total exports in 2022. It was distantly followed by the Philippines (X tons), creating a 15% share of total exports. Thailand (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to pyrites exports from Lao People's Democratic Republic stood at +51.6%. At the same time, the Philippines (+1,171.5%) and Thailand (+41.2%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +1,171.5% from 2012-2022. While the share of the Philippines (+15 p.p.) and Lao People's Democratic Republic (+9.3 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Thailand (-2.6 p.p.) displayed negative dynamics.

In value terms, Lao People's Democratic Republic ($X) remains the largest pyrites supplier in ASEAN, comprising 67% of total exports. The second position in the ranking was taken by the Philippines ($X), with a 25% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Lao People's Democratic Republic amounted to +63.2%. In the other countries, the average annual rates were as follows: the Philippines (+1,291.4% per year) and Thailand (+32.0% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, increasing by 19% against the previous year. Overall, the export price, however, saw a pronounced curtailment. The most prominent rate of growth was recorded in 2014 an increase of 142% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the export prices remained 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 Thailand ($X per ton), while Lao People's Democratic Republic ($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 (+9.4%), while the other leaders experienced mixed trends in the export price figures.

Pyrites Imports

Imports in ASEAN

For the sixth year in a row, ASEAN recorded growth in purchases abroad of pyrites, which increased by 44% to X tons in 2022. Overall, imports recorded a remarkable increase. The most prominent rate of growth was recorded in 2017 when imports increased by 113%. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in the near future.

In value terms, pyrites imports shrank slightly to $X in 2022. Over the period under review, imports saw a resilient increase. The most prominent rate of growth was recorded in 2017 when imports increased by 84%. Over the period under review, imports hit record highs at $X in 2021, and then contracted slightly in the following year.

Imports by Country

Thailand was the main importing country with an import of around X tons, which amounted to 68% of total imports. Indonesia (X tons) took a 15% share (based on physical terms) of total imports, which put it in second place, followed by Singapore (13%).

Thailand was also the fastest-growing in terms of the pyrites imports, with a CAGR of +34.5% from 2012 to 2022. At the same time, Singapore (+16.7%) and Indonesia (+6.7%) displayed positive paces of growth. From 2012 to 2022, the share of Thailand increased by +51 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X), Singapore ($X) and Indonesia ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 94% of total imports.

Thailand, with a CAGR of +26.1%, saw the highest growth rate of 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

In 2022, the import price in ASEAN amounted to $X per ton, declining by -31.1% against the previous year. Over the period under review, the import price showed a pronounced setback. The pace of growth was the most pronounced in 2013 when the import price increased by 46%. The level of import peaked at $X per ton in 2014; however, from 2015 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 Singapore ($X per ton), while Thailand ($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 (+1.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform