ASEAN: Market for Caustic Soda in the Solid Form 2024

Exports of Caustic Soda in the Solid Form

Exports in ASEAN

In 2021, overseas shipments of caustic soda in the solid form were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Overall, exports, however, continue to indicate a mild decrease. The growth pace was the most rapid in 2017 when exports increased by 49% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports of failed to regain momentum.

In value terms, exports of caustic soda in the solid form rose significantly to $X in 2021. In general, exports, however, continue to indicate a noticeable curtailment. The pace of growth was the most pronounced in 2017 when exports increased by 79% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Thailand dominates form structure, amounting to X tons, which was approx. 86% of total exports in 2021. It was distantly followed by Singapore (X tons), constituting a 7.9% share of total exports. Indonesia (X tons) and Malaysia (X tons) held a relatively small share of total exports.

Thailand experienced a relatively flat trend pattern with regard to volume of exports of caustic soda in the solid form. At the same time, Singapore (+22.0%) and Malaysia (+4.8%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +22.0% from 2012-2021. By contrast, Indonesia (-13.7%) illustrated a downward trend over the same period. While the share of Singapore (+6.7 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Indonesia (-9.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest caustic soda in the solid form supplier in ASEAN, comprising 88% of total exports. The second position in the ranking was taken by Singapore ($X), with a 6.7% share of total exports. It was followed by Indonesia, with a 3% share.

In Thailand, exports of caustic soda in the solid form shrank by an average annual rate of -3.4% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (+7.1% per year) and Indonesia (-16.7% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, surging by 3.9% against the previous year. In general, the export price, however, continues to indicate a perceptible contraction. The growth pace was the most rapid in 2018 an increase of 20%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (-2.4%), while the other leaders experienced a decline in the export price figures.

Imports of Caustic Soda in the Solid Form

Imports in ASEAN

In 2021, the amount of caustic soda in the solid form imported in ASEAN amounted to X tons, stabilizing at 2020 figures. Total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +10.0% against 2019 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 32%. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of caustic soda in the solid form reached $X in 2021. Total imports indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -33.1% against 2018 indices. The pace of growth was the most pronounced in 2017 when imports increased by 58%. Over the period under review, imports of caustic soda in solid form reached the maximum at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Vietnam (X tons) and Indonesia (X tons) represented the largest importers of caustic soda in the solid form in ASEAN, together resulting at near 61% of total imports. Thailand (X tons) took a 10% share (based on physical terms) of total imports, which put it in second place, followed by the Philippines (9.9%), Malaysia (7.8%) and Myanmar (6.7%).

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

In value terms, Vietnam ($X), Indonesia ($X) and Thailand ($X) were the countries with the highest levels of imports in 2021, with a combined 72% share of total imports. The Philippines, Malaysia and Myanmar lagged somewhat behind, together comprising a further 23%.

Myanmar, with a CAGR of +13.3%, 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, increasing by 3.9% against the previous year. Overall, the import price, however, saw a noticeable slump. The pace of growth was the most pronounced in 2017 an increase of 20% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Thailand ($X per ton) and Indonesia ($X per ton), while Myanmar ($X per ton) and Malaysia ($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 (+0.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform