Asia-Pacific: Caustic Soda Market 2024

Caustic Soda Market Size in Asia-Pacific

In 2021, the Asia-Pacific caustic soda market increased by 13% to $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +1.6% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Caustic Soda Production in Asia-Pacific

In value terms, caustic soda production totaled $X in 2021 estimated in export price. In general, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 27% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Caustic Soda Exports

Exports in Asia-Pacific

In 2021, shipments abroad of caustic soda increased by 5.8% to X tons, rising for the third year in a row after two years of decline. The total export volume increased at an average annual rate of +3.1% 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 2013 with an increase of 14% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in years to come.

In value terms, caustic soda exports soared to $X in 2021. In general, exports, however, recorded a mild curtailment. The most prominent rate of growth was recorded in 2017 when exports increased by 42% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

The shipments of the three major exporters of caustic soda, namely Japan, Taiwan (Chinese) and China, represented more than two-thirds of total export. It was distantly followed by South Korea (X tons), comprising an 8.1% share of total exports. India (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +12.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and Taiwan (Chinese) ($X) constituted the countries with the highest levels of exports in 2021, together comprising 76% of total exports. South Korea and India lagged somewhat behind, together comprising a further 19%.

South Korea, with a CAGR of +12.6%, saw 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

The export price in Asia-Pacific stood at $X per ton in 2021, increasing by 24% against the previous year. Overall, the export price, however, showed a noticeable decline. The pace of growth was the most pronounced in 2017 when the export price increased by 43%. Over the period under review, the export prices reached the peak figure at $X per ton in 2018; however, from 2019 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 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-Pacific

In 2021, approx. X tons of caustic soda were imported in Asia-Pacific; picking up by 13% against 2020. The total import volume increased at an average annual rate of +2.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 with an increase of 28%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, caustic soda imports skyrocketed to $X in 2021. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by 41% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

Australia dominates imports structure, recording X tons, which was approx. 65% of total imports in 2021. Indonesia (X tons) ranks second in terms of the total imports with a 5.8% share, followed by India (5.6%). Vietnam (X tons), Malaysia (X tons), Taiwan (Chinese) (X tons), the Philippines (X tons), Thailand (X tons), New Zealand (X tons) and Singapore (X tons) followed a long way behind the leaders.

Imports into Australia increased at an average annual rate of +1.5% from 2012 to 2021. At the same time, Indonesia (+20.9%), Vietnam (+13.1%), New Zealand (+12.4%), Malaysia (+9.9%), Taiwan (Chinese) (+8.0%), India (+2.7%) and the Philippines (+1.9%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +20.9% from 2012-2021. By contrast, Thailand (-4.7%) and Singapore (-8.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Indonesia, Vietnam and Malaysia increased by +4.5, +2.5 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported caustic soda in Asia-Pacific, comprising 62% of total imports. The second position in the ranking was held by Vietnam ($X), with a 5.7% share of total imports. It was followed by India, with a 5.1% share.

In Australia, caustic soda imports declined by an average annual rate of -1.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Vietnam (+7.4% per year) and India (-2.8% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, jumping by 21% against the previous year. In general, the import price, however, continues to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2017 when the import price increased by 40% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

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 Vietnam ($X per ton), while New Zealand ($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 (-1.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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