Asia: Carbonate Market 2024

Carbonate Market Size in Asia

After two years of decline, the Asian carbonate market increased by 7.7% to $X in 2021. Over the period under review, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Carbonate Production in Asia

In value terms, carbonate production rose modestly to $X in 2021 estimated in export price. Overall, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 25% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Carbonate Exports

Exports in Asia

In 2021, overseas shipments of carbonates and peroxocarbonates decreased by -1.1% to X tons, falling for the second consecutive year after three years of growth. Overall, exports, however, enjoyed a prominent increase. The pace of growth was the most pronounced in 2015 with an increase of 42%. The volume of export peaked at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, carbonate exports expanded rapidly to $X in 2021. Over the period under review, exports, however, saw a strong increase. The most prominent rate of growth was recorded in 2018 when exports increased by 28%. Over the period under review, the exports reached the peak figure in 2021 and are likely to see gradual growth in the near future.

Exports by Country

Turkey was the major exporting country with an export of about X tons, which resulted at 58% of total exports. China (X tons) ranks second in terms of the total exports with a 19% share, followed by Vietnam (6%). The following exporters - India (X tons), Malaysia (X tons) and the United Arab Emirates (X tons) - together made up 8% of total exports.

Turkey was also the fastest-growing in terms of the carbonates and peroxocarbonates exports, with a CAGR of +42.3% from 2012 to 2021. At the same time, the United Arab Emirates (+26.1%), Vietnam (+19.4%) and India (+11.1%) displayed positive paces of growth. Malaysia experienced a relatively flat trend pattern. By contrast, China (-4.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Turkey and Vietnam increased by +53 and +3.4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Turkey ($X) and India ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 74% share of total exports.

Turkey, with a CAGR of +48.2%, saw the highest growth rate of the value of exports, among 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 2021, the export price in Asia amounted to $X per ton, surging by 11% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, 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 China ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+5.6%), while the other leaders experienced more modest paces of growth.

Carbonate Imports

Imports in Asia

In 2021, the amount of carbonates and peroxocarbonates imported in Asia expanded sharply to X tons, with an increase of 6.3% against the previous year's figure. The total import volume increased at an average annual rate of +3.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 when imports increased by 9.4%. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, carbonate imports surged to $X in 2021. Total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports reached the peak figure at $X in 2018; afterwards, it flattened through to 2021.

Imports by Country

In 2021, India (X tons), distantly followed by Indonesia (X tons), Thailand (X tons), South Korea (X tons), Vietnam (X tons), Malaysia (X tons), Saudi Arabia (X tons), China (X tons) and Bangladesh (X tons) represented the major importers of carbonates and peroxocarbonates, together committing 73% of total imports. The following importers - Japan (X tons), Kazakhstan (X tons), Taiwan (Chinese) (X tons) and the Philippines (X tons) - each recorded a 12% share of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +20.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), South Korea ($X) and India ($X) were the countries with the highest levels of imports in 2021, together comprising 45% of total imports.

In terms of the main importing countries, China, with a CAGR of +22.6%, 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 2021, rising by 16% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.2%. As a result, import 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 importing countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+7.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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