Asia: Articles Of Peat Market 2024

Articles Of Peat Market Size in Asia

In 2022, the Asian articles of peat market decreased by -11% to $X, falling for the second year in a row after three years of growth. In general, consumption posted a buoyant expansion. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Articles Of Peat Production in Asia

In value terms, articles of peat production stood at $X in 2022 estimated in export price. The total production indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.5% against 2020 indices. The growth pace was the most rapid in 2016 when the production volume increased by 53%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Articles Of Peat Exports

Exports in Asia

In 2022, approx. X tons of articles of peat were exported in Asia; growing by 67% on the year before. In general, exports posted a buoyant increase. The pace of growth was the most pronounced in 2013 when exports increased by 95%. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, articles of peat exports soared to $X in 2022. Overall, exports continue to indicate a strong expansion. The pace of growth was the most pronounced in 2016 when exports increased by 149%. 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

China was the key exporter of articles of peat in Asia, with the volume of exports resulting at X tons, which was near 69% of total exports in 2022. It was distantly followed by Indonesia (X tons), mixing up a 22% share of total exports. The following exporters - Jordan (X tons) and Vietnam (X tons) - each reached a 3.4% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to articles of peat exports from China stood at +61.9%. At the same time, Jordan (+90.2%) and Indonesia (+2.4%) displayed positive paces of growth. Moreover, Jordan emerged as the fastest-growing exporter exported in Asia, with a CAGR of +90.2% from 2012-2022. Vietnam experienced a relatively flat trend pattern. China (+67 p.p.) and Jordan (+1.8 p.p.) significantly strengthened its position in terms of the total exports, while Vietnam and Indonesia saw its share reduced by -4.1% and -47.2% from 2012 to 2022, respectively.

In value terms, China ($X) remains the largest articles of peat supplier in Asia, comprising 58% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 15% share of total exports. It was followed by Vietnam, with a 0.3% share.

In China, articles of peat exports increased at an average annual rate of +68.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Indonesia (+7.4% per year) and Vietnam (-3.1% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, jumping by 39% against the previous year. Export price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +3.6% 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 2014 an increase of 72%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the export prices remained at a 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 China ($X per ton), while Jordan ($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 (+4.9%), while the other leaders experienced mixed trends in the export price figures.

Articles Of Peat Imports

Imports in Asia

In 2022, supplies from abroad of articles of peat increased by 36% to X tons, rising for the second year in a row after two years of decline. In general, imports saw a temperate expansion. The growth pace was the most rapid in 2015 when imports increased by 71% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, articles of peat imports surged to $X in 2022. Overall, imports enjoyed a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the twelve major importers of articles of peat, namely Japan, India, Kazakhstan, South Korea, Israel, Kuwait, Malaysia, Uzbekistan, Vietnam, Turkey, China and Oman, represented more than two-thirds of total import.

From 2012 to 2022, the biggest increases were recorded for Uzbekistan (with a CAGR of +449.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest articles of peat importing markets in Asia were Japan ($X), India ($X) and Turkey ($X), with a combined 53% share of total imports. Kazakhstan, South Korea, Israel, Kuwait, Vietnam, China, Uzbekistan, Oman and Malaysia lagged somewhat behind, together accounting for a further 39%.

Among the main importing countries, Uzbekistan, with a CAGR of +704.9%, recorded the highest growth rate of 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 Asia stood at $X per ton in 2022, jumping by 26% against the previous year. Import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, articles of peat import price increased by +47.2% against 2017 indices. The growth pace was the most rapid in 2016 an increase of 40%. Over the period under review, import prices hit record highs in 2022 and is likely to see steady growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+46.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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