ASEAN: Sulphur Market 2024

Sulphur Market Size in ASEAN

In 2021, the ASEAN sulphur market was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +1.3% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Sulphur Production in ASEAN

In value terms, sulphur production expanded markedly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.7% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2014 with an increase of 19%. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Sulphur Exports

Exports in ASEAN

In 2021, after two years of decline, there was significant growth in shipments abroad of sulphur (sublimed or precipitated) and colloidal sulphur, when their volume increased by 72% to X tons. Over the period under review, exports, however, continue to indicate a abrupt setback. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, sulphur exports skyrocketed to $X in 2021. In general, exports, however, continue to indicate a abrupt contraction. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Singapore represented the main exporting country with an export of about X tons, which resulted at 85% of total exports. It was distantly followed by Thailand (X tons), committing a 13% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to sulphur exports from Singapore stood at -9.1%. At the same time, Thailand (+213.6%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +213.6% from 2012-2021. From 2012 to 2021, the share of Thailand increased by +13 percentage points.

In value terms, Singapore ($X) remains the largest sulphur supplier in ASEAN, comprising 72% of total exports. The second position in the ranking was held by Thailand ($X), with an 18% share of total exports.

In Singapore, sulphur exports declined by an average annual rate of -8.1% over the period from 2012-2021.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, with an increase of 19% against the previous year. Export price indicated a modest expansion from 2012 to 2021: its price increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, sulphur export price increased by +63.1% against 2019 indices. The growth pace was the most rapid in 2020 an increase of 37%. Over the period under review, the export prices hit record highs in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Singapore totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+1.1%).

Sulphur Imports

Imports in ASEAN

In 2021, supplies from abroad of sulphur (sublimed or precipitated) and colloidal sulphur was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports, however, faced a deep contraction. The growth pace was the most rapid in 2017 when imports increased by 18% against the previous year. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, sulphur imports skyrocketed to $X in 2021. Overall, imports, however, continue to indicate a deep contraction. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Indonesia (X tons) represented the major importer of sulphur (sublimed or precipitated) and colloidal sulphur, generating 67% of total imports. It was distantly followed by Thailand (X tons), achieving a 30% share of total imports. Vietnam (X tons) held a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to sulphur imports into Indonesia stood at -14.5%. At the same time, Thailand (+19.2%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +19.2% from 2012-2021. By contrast, Vietnam (-6.3%) illustrated a downward trend over the same period. Thailand (+28 p.p.) significantly strengthened its position in terms of the total imports, while Indonesia saw its share reduced by -21.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) constitutes the largest market for imported sulphur (sublimed or precipitated) and colloidal sulphur in ASEAN, comprising 58% of total imports. The second position in the ranking was held by Thailand ($X), with a 20% share of total imports.

From 2012 to 2021, the average annual growth rate of value in Indonesia stood at -14.0%. In the other countries, the average annual rates were as follows: Thailand (+16.3% per year) and Vietnam (-7.1% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2021, surging by 25% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+0.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform