Asia: Carbides Market 2024

Carbides Market Size in Asia

The Asian carbides market declined to $X in 2022, waning by -3.4% against the previous year. Overall, consumption saw a perceptible setback. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Carbides Production in Asia

In value terms, carbides production declined modestly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2018 with an increase of 21%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Carbides Exports

Exports in Asia

In 2022, shipments abroad of carbides increased by 5.8% to X tons, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of +4.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when exports increased by 34% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, carbides exports surged to $X in 2022. Total exports indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +4.4% 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 +104.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 58% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

China prevails in exports structure, finishing at X tons, which was near 84% of total exports in 2022. It was distantly followed by Vietnam (X tons), making up a 6.4% share of total exports. The following exporters - Kazakhstan (X tons) and Japan (X tons) - together made up 5.3% of total exports.

Exports from China increased at an average annual rate of +4.4% from 2012 to 2022. At the same time, Vietnam (+36.1%) and Japan (+1.7%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia, with a CAGR of +36.1% from 2012-2022. Kazakhstan experienced a relatively flat trend pattern. Vietnam (+6 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest carbides supplier in Asia, comprising 80% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 5.3% share of total exports. It was followed by Japan, with a 4.3% share.

From 2012 to 2022, the average annual growth rate of value in China totaled +5.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (+32.3% per year) and Japan (-3.0% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, picking up by 22% against the previous year. Overall, the export price saw a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 Japan ($X per ton), while Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (+0.9%), while the other leaders experienced mixed trends in the export price figures.

Carbides Imports

Imports in Asia

In 2022, approx. X tons of carbides were imported in Asia; declining by -6% against the year before. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 24%. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, carbides imports expanded sharply to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 49% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in years to come.

Imports by Country

Japan (X tons), India (X tons) and South Korea (X tons) represented roughly 59% of total imports in 2022. It was distantly followed by Turkey (X tons), creating a 7.5% share of total imports. Thailand (X tons), Taiwan (Chinese) (X tons), China (X tons), the Philippines (X tons), Singapore (X tons), Malaysia (X tons), Vietnam (X tons) and the United Arab Emirates (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 Turkey (with a CAGR of +16.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest carbides importing markets in Asia were Japan ($X), South Korea ($X) and India ($X), with a combined 71% share of total imports. Turkey, Taiwan (Chinese), Thailand, China, Singapore, Malaysia, the United Arab Emirates, Vietnam and the Philippines lagged somewhat behind, together comprising a further 22%.

Turkey, with a CAGR of +16.8%, saw 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

The import price in Asia stood at $X per ton in 2022, surging by 20% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by 31% against the previous year. Over the period under review, import prices attained the peak figure in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+4.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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