Asia-Pacific: Carbides Market 2024

Carbides Market Size in Asia-Pacific

The Asia-Pacific carbides market contracted to $X in 2022, declining by -3.6% against the previous year. Over the period under review, consumption showed a pronounced setback. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Carbides Production in Asia-Pacific

In value terms, carbides production contracted to $X in 2022 estimated in export price. In general, production continues to indicate a perceptible downturn. The most prominent rate of growth was recorded in 2018 when the production volume increased by 23% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Carbides Exports

Exports in Asia-Pacific

In 2022, overseas shipments of carbides increased by 6.8% to X tons, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of +4.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 34% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, carbides exports surged to $X in 2022. Total exports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +105.1% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 59% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

China prevails in exports structure, recording X tons, which was near 89% of total exports in 2022. It was distantly followed by Vietnam (X tons), mixing up a 6.8% share of total exports. Japan (X tons) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +4.4% from 2012 to 2022. At the same time, Vietnam (+36.1%) and Japan (+1.7%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +36.1% from 2012-2022. While the share of Vietnam (+6.3 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest carbides supplier in Asia-Pacific, comprising 84% of total exports. The second position in the ranking was held by Vietnam ($X), with a 5.5% share of total exports.

From 2012 to 2022, the average annual growth rate of value in China amounted to +5.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (+32.3% per year) and Japan (-3.0% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, with an increase of 21% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The level of export peaked at $X per ton in 2012; afterwards, it flattened through to 2022.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+0.7%), while the other leaders experienced a decline in the export price figures.

Carbides Imports

Imports in Asia-Pacific

In 2022, imports of carbides in Asia-Pacific declined to X tons, waning by -5.9% on the year before. Overall, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 26%. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, carbides imports expanded rapidly to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 50% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Japan (X tons), India (X tons) and South Korea (X tons) represented roughly 67% of total imports in 2022. Thailand (X tons) took a 5.1% share (based on physical terms) of total imports, which put it in second place, followed by Taiwan (Chinese) (4.7%). China (X tons), the Philippines (X tons), Singapore (X tons), Malaysia (X tons), Australia (X tons), Vietnam (X tons) and Indonesia (X tons) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by China (with a CAGR of +12.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), South Korea ($X) and India ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 77% of total imports. Taiwan (Chinese), Thailand, China, Australia, Singapore, Malaysia, Vietnam, the Philippines and Indonesia lagged somewhat behind, together accounting for a further 21%.

In terms of the main importing countries, China, with a CAGR of +7.6%, 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

In 2022, the import price in Asia-Pacific amounted to $X per ton, growing by 21% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the import price increased by 33% against the previous year. Over the period under review, import prices reached the peak figure in 2022 and is likely to see steady growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+6.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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