Asia: Lime Market 2024

Lime Market Size in Asia

After five years of growth, the Asian lime market decreased by -1.5% to $X in 2021. The market value increased at an average annual rate of +4.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2020, and then dropped in the following year.

Lime Production in Asia

In value terms, lime production reduced to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.7% 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 2014 with an increase of 38% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Lime Exports

Exports in Asia

In 2021, lime exports in Asia rose remarkably to X tons, picking up by 9.5% against the year before. The total export volume increased at an average annual rate of +2.0% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2016 with an increase of 16%. The volume of export peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, lime exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +3.1% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Malaysia (X tons), Vietnam (X tons), the United Arab Emirates (X tons), Oman (X tons) and Thailand (X tons) represented roughly 75% of total exports in 2021. China (X tons) held the next position in the ranking, followed by Saudi Arabia (X tons). All these countries together took approx. 11% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Oman (with a CAGR of +31.2%), while the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Malaysia ($X) and the United Arab Emirates ($X) constituted the countries with the highest levels of exports in 2021, with a combined 52% share of total exports. These countries were followed by Oman, China, Thailand and Saudi Arabia, which together accounted for a further 32%.

Oman, with a CAGR of +28.6%, recorded 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

The export price in Asia stood at $X per ton in 2021, with an increase of 6.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.0%. The most prominent rate of growth was recorded in 2014 an increase of 21%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the export prices remained at a lower figure.

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 China ($X per ton), while Saudi Arabia ($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 (+8.5%), while the other leaders experienced more modest paces of growth.

Lime Imports

Imports in Asia

In 2021, after two years of decline, there was growth in purchases abroad of lime, when their volume increased by 3.3% to X tons. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 13%. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, lime imports soared to $X in 2021. The total import value increased at an average annual rate of +2.1% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Taiwan (Chinese) (X tons), India (X tons), Bangladesh (X tons), Oman (X tons), Indonesia (X tons), Kazakhstan (X tons), the Philippines (X tons), Singapore (X tons), Bahrain (X tons), Japan (X tons) and South Korea (X tons) represented roughly 86% of total imports in 2021.

From 2012 to 2021, the biggest increases were recorded for Oman (with a CAGR of +49.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest lime importing markets in Asia were Taiwan (Chinese) ($X), Bangladesh ($X) and India ($X), together comprising 37% of total imports. Indonesia, Singapore, the Philippines, Oman, Kazakhstan, Japan, Bahrain and South Korea lagged somewhat behind, together accounting for a further 47%.

In terms of the main importing countries, Oman, with a CAGR of +40.0%, saw 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, with an increase of 12% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.2%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+3.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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