ASEAN: Sulphites Market 2024

Sulphites Market Size in ASEAN

In 2022, the ASEAN sulphites market increased by 8.7% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The level of consumption peaked in 2022 and is expected to retain growth in the near future.

Sulphites Production in ASEAN

In value terms, sulphites production fell to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2016 when the production volume increased by 18% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Sulphites Exports

Exports in ASEAN

In 2022, the amount of sulphites exported in ASEAN declined to X tons, dropping by -12.1% against the year before. Total exports indicated a moderate increase from 2012 to 2022: its volume increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 20% against the previous year. The volume of export peaked at X tons in 2021, and then declined in the following year.

In value terms, sulphites exports soared to $X in 2022. Total exports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +35.1% against 2020 indices. The growth pace was the most rapid in 2018 when exports increased by 38% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The shipments of the one major exporters of sulphites, namely Thailand, represented more than two-thirds of total export.

Thailand was also the fastest-growing in terms of the sulphites exports, with a CAGR of +4.4% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) also remains the largest sulphites supplier in ASEAN.

In Thailand, sulphites exports expanded at an average annual rate of +6.9% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, increasing by 42% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.2%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Thailand.

From 2012 to 2022, the rate of growth in terms of prices for Thailand amounted to +2.4% per year.

Sulphites Imports

Imports in ASEAN

In 2022, supplies from abroad of sulphites increased by 0.4% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +3.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 25% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, sulphites imports expanded rapidly to $X in 2022. Total imports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.8% 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 +40.6% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of 25%. The level of import peaked in 2022 and is likely to see gradual growth in years to come.

Imports by Country

In 2022, Indonesia (X tons) and the Philippines (X tons) were the largest importers of sulphites in ASEAN, together recording near 61% of total imports. It was distantly followed by Thailand (X tons), Vietnam (X tons) and Malaysia (X tons), together comprising a 31% share of total imports. Cambodia (X tons) and Singapore (X tons) took a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Cambodia (with a CAGR of +50.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest sulphites importing markets in ASEAN were the Philippines ($X), Indonesia ($X) and Vietnam ($X), together comprising 66% of total imports. Thailand, Malaysia, Cambodia and Singapore lagged somewhat behind, together comprising a further 33%.

In terms of the main importing countries, Cambodia, with a CAGR of +56.4%, 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 2022, with an increase of 13% against the previous year. In general, the import price recorded a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cambodia (+3.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform