Asia: Market for Double Or Complex Silicates 2024

Market Size for Double Or Complex Silicates in Asia

In 2021, after three years of decline, there was significant growth in the Asian double or complex silicates market, when its value increased by 8.6% to $X. The total consumption indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -36.4% against 2017 indices. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Double Or Complex Silicates in Asia

In value terms, double or complex silicates production soared to $X in 2021 estimated in export price. The total production indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -23.5% against 2017 indices. The pace of growth appeared the most rapid in 2017 with an increase of 44%. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Exports of Double Or Complex Silicates

Exports in Asia

In 2021, the amount of double or complex silicates exported in Asia skyrocketed to X tons, with an increase of 33% on 2020. Over the period under review, exports, however, recorded a pronounced decrease. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, double or complex silicates exports soared to $X in 2021. In general, exports recorded resilient growth. The pace of growth was the most pronounced in 2017 when exports increased by 102% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

In 2021, Malaysia (X tons) represented the major exporter of double or complex silicates, comprising 43% of total exports. South Korea (X tons) held a 17% share (based on physical terms) of total exports, which put it in second place, followed by India (15%), Japan (8.7%) and Turkey (8.1%). Thailand (X tons) and China (X tons) held a little share of total exports.

Malaysia was also the fastest-growing in terms of the double or complex silicates exports, with a CAGR of +46.0% from 2012 to 2021. At the same time, Japan (+15.3%), Turkey (+15.2%) and India (+10.7%) displayed positive paces of growth. By contrast, Thailand (-5.5%), South Korea (-7.9%) and China (-33.4%) illustrated a downward trend over the same period. Malaysia (+42 p.p.), India (+11 p.p.), Japan (+7 p.p.) and Turkey (+6.6 p.p.) significantly strengthened its position in terms of the total exports, while South Korea and China saw its share reduced by -7.5% and -54% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) remains the largest double or complex silicates supplier in Asia, comprising 58% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 22% share of total exports. It was followed by India, with a 6.5% share.

In Japan, double or complex silicates exports increased at an average annual rate of +23.1% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (+12.5% per year) and India (+13.0% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, reducing by -10.3% against the previous year. Overall, the export price, however, recorded prominent growth. The most prominent rate of growth was recorded in 2017 an increase of 217%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Japan ($X per ton), while South Korea ($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 (+10.7%), while the other leaders experienced more modest paces of growth.

Imports of Double Or Complex Silicates

Imports in Asia

In 2021, the amount of double or complex silicates imported in Asia expanded rapidly to X tons, with an increase of 9.4% against 2020. In general, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 13% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, double or complex silicates imports soared to $X in 2021. Total imports indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when imports increased by 47% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

The countries with the highest levels of double or complex silicates imports in 2021 were India (X tons), Japan (X tons) and Indonesia (X tons), together recording 50% of total import. China (X tons) ranks next in terms of the total imports with a 7.5% share, followed by Turkey (7.1%) and Myanmar (6.9%). The Philippines (X tons), South Korea (X tons), Saudi Arabia (X tons), Malaysia (X tons), Thailand (X tons), Taiwan (Chinese) (X tons) and Pakistan (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by India (with a CAGR of +41.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), India ($X) and China ($X) constituted the countries with the highest levels of imports in 2021, together comprising 49% of total imports.

In terms of the main importing countries, India, with a CAGR of +32.6%, saw the highest rates of growth with regard to 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

In 2021, the import price in Asia amounted to $X per ton, with an increase of 8% against the previous year. Import price indicated tangible growth from 2012 to 2021: its price increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, double or complex silicates import price decreased by -30.1% against 2018 indices. The most prominent rate of growth was recorded in 2018 when the import price increased by 53%. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the import prices remained 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 Malaysia ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+22.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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