Asia: Carbon Dioxide Market 2024

Carbon Dioxide Market Size in Asia

The Asian carbon dioxide market reduced to $X in 2022, which is down by -14.2% against the previous year. Overall, consumption showed a mild shrinkage. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Carbon Dioxide Production in Asia

In value terms, carbon dioxide production declined to $X in 2022 estimated in export price. Over the period under review, production recorded a mild decline. The most prominent rate of growth was recorded in 2018 when the production volume increased by 79%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Carbon Dioxide Exports

Exports in Asia

In 2022, exports of carbon dioxide in Asia contracted slightly to X tons, stabilizing at 2021 figures. The total export volume increased at an average annual rate of +3.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when exports increased by 23% against the previous year. As a result, the exports reached the peak of X tons, leveling off in the following year.

In value terms, carbon dioxide exports dropped significantly to $X in 2022. Total exports indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.0% 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 2019 when exports increased by 22%. Over the period under review, the exports reached the maximum at $X in 2021, and then reduced remarkably in the following year.

Exports by Country

In 2022, Kuwait (X tons), China (X tons), Turkey (X tons), Bahrain (X tons), Singapore (X tons), Thailand (X tons), Malaysia (X tons), India (X tons), Oman (X tons), Saudi Arabia (X tons) and South Korea (X tons) represented the key exporter of carbon dioxide in Asia, committing 91% of total export.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Bahrain (with a CAGR of +50.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest carbon dioxide supplying countries in Asia were China ($X), South Korea ($X) and Singapore ($X), with a combined 27% share of total exports. Turkey, Kuwait, Thailand, Bahrain, Malaysia, Saudi Arabia, India and Oman lagged somewhat behind, together accounting for a further 22%.

Bahrain, with a CAGR of +37.2%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, waning by -15.4% against the previous year. Overall, the export price showed a perceptible decrease. The pace of growth appeared the most rapid in 2019 an increase of 23% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+11.8%), while the other leaders experienced mixed trends in the export price figures.

Carbon Dioxide Imports

Imports in Asia

In 2022, imports of carbon dioxide in Asia reduced markedly to X tons, shrinking by -40.4% against the year before. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 40% against the previous year. As a result, imports reached the peak of X tons, and then fell dramatically in the following year.

In value terms, carbon dioxide imports fell slightly to $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 13% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Iraq (X tons) and Singapore (X tons) represented the major importers of carbon dioxide in 2022, amounting to near 13% and 11% of total imports, respectively. South Korea (X tons) ranks next in terms of the total imports with a 7.3% share, followed by Lebanon (6.4%), Jordan (6.2%), Palestine (6.2%) and Kazakhstan (5.9%). Taiwan (Chinese) (X tons), Indonesia (X tons), Hong Kong SAR (X tons), China (X tons), Nepal (X tons) and Syrian Arab Republic (X tons) took a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Palestine (with a CAGR of +39.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Singapore ($X) and South Korea ($X) were the countries with the highest levels of imports in 2022, with a combined 31% share of total imports. Taiwan (Chinese), Hong Kong SAR, Kazakhstan, Jordan, Iraq, Indonesia, Lebanon, Palestine, Syrian Arab Republic and Nepal lagged somewhat behind, together comprising a further 21%.

Palestine, with a CAGR of +29.1%, recorded the highest rates of growth with regard to the value of imports, in terms of 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 2022, the import price in Asia amounted to $X per ton, picking up by 62% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while Nepal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+5.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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