ASEAN: Silicates Market 2024

Silicates Market Size in ASEAN

In 2021, the ASEAN silicates market decreased by -11.8% to $X for the first time since 2016, thus ending a four-year rising trend. Over the period under review, consumption continues to indicate a noticeable shrinkage. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Silicates Production in ASEAN

In value terms, silicates production declined to $X in 2021 estimated in export price. Overall, production showed a pronounced contraction. The pace of growth appeared the most rapid in 2020 when the production volume increased by 32% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Silicates Exports

Exports in ASEAN

In 2021, overseas shipments of silicates, commercial alkali metal silicates increased by 33% to X tons, rising for the second consecutive year after two years of decline. Total exports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +7.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +72.1% against 2019 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 40%. The volume of export peaked in 2021 and is likely to see gradual growth in years to come.

In value terms, silicates exports soared to $X in 2021. Total exports indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +65.8% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Indonesia was the largest exporting country with an export of about X tons, which accounted for 49% of total exports. Malaysia (X tons) held a 26% share (based on physical terms) of total exports, which put it in second place, followed by Thailand (22%). Vietnam (X tons) held a relatively small share of total exports.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +10.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest silicates supplying countries in ASEAN were Thailand ($X), Indonesia ($X) and Malaysia ($X), with a combined 91% share of total exports. These countries were followed by Vietnam, which accounted for a further 5%.

Vietnam, with a CAGR of +11.4%, saw the highest growth rate of the value of exports, among the main exporting countries 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, approximately reflecting the previous year. Over the period under review, the export price, however, showed a noticeable descent. The growth pace was the most rapid in 2018 when the export price increased by 47%. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+0.6%), while the other leaders experienced mixed trends in the export price figures.

Silicates Imports

Imports in ASEAN

In 2021, overseas purchases of silicates, commercial alkali metal silicates increased by 12% to X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 with an increase of 21%. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, silicates imports surged to $X in 2021. Overall, imports, however, recorded a relatively flat trend pattern. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

Malaysia (X tons) and Indonesia (X tons) represented roughly 55% of total imports in 2021. The Philippines (X tons) took a 15% share (based on physical terms) of total imports, which put it in second place, followed by Singapore (12%), Vietnam (6.9%) and Myanmar (5.5%). Thailand (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Malaysia (with a CAGR of +19.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest silicates importing markets in ASEAN were Indonesia ($X), Malaysia ($X) and the Philippines ($X), together accounting for 63% of total imports.

Among the main importing countries, Malaysia, with a CAGR of +11.1%, recorded the highest rates of growth with regard to the value of imports, 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 2021, with an increase of 11% against the previous year. In general, the import price, however, saw a mild curtailment. The growth pace was the most rapid in 2017 an increase of 17%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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 Vietnam ($X per ton), while Singapore ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+8.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform