Asia: Caustic Soda Market 2024

Caustic Soda Market Size in Asia

In 2021, the Asian caustic soda market decreased by -1.6% to $X, falling for the third year in a row after three years of growth. In general, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Caustic Soda Production in Asia

In value terms, caustic soda production totaled $X in 2021 estimated in export price. Overall, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 26% against the previous year. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Caustic Soda Exports

Exports in Asia

In 2021, overseas shipments of caustic soda increased by 7.5% to X tons, rising for the third consecutive year after two years of decline. The total export volume increased at an average annual rate of +2.4% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2016 when exports increased by 11% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, caustic soda exports skyrocketed to $X in 2021. Over the period under review, exports, however, recorded a mild decrease. The most prominent rate of growth was recorded in 2017 with an increase of 32%. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X tons), Taiwan (Chinese) (X tons) and China (X tons) represented roughly 71% of total exports in 2021. Saudi Arabia (X tons) held the next position in the ranking, followed by South Korea (X tons) and Qatar (X tons). All these countries together took near 20% share of total exports. India (X tons) held a minor share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by India (with a CAGR of +12.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest caustic soda supplying countries in Asia were China ($X), Japan ($X) and Taiwan (Chinese) ($X), with a combined 63% share of total exports. These countries were followed by South Korea, Saudi Arabia, India and Qatar, which together accounted for a further 28%.

South Korea, with a CAGR of +12.6%, recorded the highest rates of growth with regard to 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, jumping by 20% against the previous year. Over the period under review, the export price, however, recorded a noticeable curtailment. The most prominent rate of growth was recorded in 2017 when the export price increased by 36% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was India ($X per ton), while Taiwan (Chinese) ($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 (+0.4%), while the other leaders experienced a decline in the export price figures.

Caustic Soda Imports

Imports in Asia

In 2021, approx. X tons of caustic soda were imported in Asia; surging by 13% on the previous year's figure. The total import volume increased at an average annual rate of +4.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 with an increase of 17% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the near future.

In value terms, caustic soda imports skyrocketed to $X in 2021. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 25%. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Turkey (X tons), followed by Saudi Arabia (X tons), Indonesia (X tons), India (X tons), Vietnam (X tons), Malaysia (X tons) and Taiwan (Chinese) (X tons) represented the major importers of caustic soda, together generating 72% of total imports. The following importers - the Philippines (X tons), Thailand (X tons), Singapore (X tons), Israel (X tons), China (X tons) and Kazakhstan (X tons) - together made up 18% of total imports.

From 2012 to 2021, the biggest increases were recorded for Saudi Arabia (with a CAGR of +51.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest caustic soda importing markets in Asia were Turkey ($X), Saudi Arabia ($X) and Vietnam ($X), together comprising 33% of total imports.

Saudi Arabia, with a CAGR of +34.3%, recorded the highest growth rate of 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 2021, the import price in Asia amounted to $X per ton, with an increase of 5.4% against the previous year. Overall, the import price, however, saw a perceptible reduction. The most prominent rate of growth was recorded in 2017 when the import price increased by 15% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (-0.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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