Asia-Pacific: Mercury Market 2024

Mercury Market Size in Asia-Pacific

After four years of growth, the Asia-Pacific mercury market decreased by -4.1% to $X in 2021. In general, consumption, however, saw a resilient increase. Over the period under review, the market hit record highs at $X in 2020, and then shrank in the following year.

Mercury Production in Asia-Pacific

In value terms, mercury production contracted to $X in 2021 estimated in export price. Over the period under review, production, however, posted a prominent expansion. The pace of growth was the most pronounced in 2017 with an increase of 41% against the previous year. The level of production peaked at $X in 2020, and then dropped in the following year.

Mercury Exports

Exports in Asia-Pacific

In 2021, the amount of mercuries exported in Asia-Pacific dropped to X tons, waning by -7.5% on the previous year. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by 149% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, mercury exports contracted notably to $X in 2021. Over the period under review, exports saw a abrupt downturn. The pace of growth appeared the most rapid in 2013 with an increase of 237%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Indonesia was the main exporting country with an export of around X tons, which finished at 58% of total exports. Vietnam (X tons) ranks second in terms of the total exports with an 11% share, followed by India (9.9%), Japan (9.2%) and China (5.2%). Pakistan (X tons) followed a long way behind the leaders.

Indonesia was also the fastest-growing in terms of the mercuries exports, with a CAGR of +56.3% from 2012 to 2021. At the same time, Vietnam (+15.6%) and India (+3.0%) displayed positive paces of growth. Pakistan experienced a relatively flat trend pattern. By contrast, Japan (-9.6%) and China (-15.4%) illustrated a downward trend over the same period. Indonesia (+57 p.p.), Vietnam (+8.4 p.p.) and India (+2.4 p.p.) significantly strengthened its position in terms of the total exports, while Japan and China saw its share reduced by -13.4% and -17.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X), Vietnam ($X) and Japan ($X) constituted the countries with the highest levels of exports in 2021, with a combined 71% share of total exports. These countries were followed by Indonesia, Pakistan and China, which together accounted for a further 26%.

Among the main exporting countries, Indonesia, with a CAGR of +68.3%, recorded the highest rates of growth with regard to the value of exports, 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-Pacific amounted to $X per ton, reducing by -15.6% against the previous year. In general, the export price continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2019 when the export price increased by 48%. Over the period under review, the export prices reached the peak figure at $X per ton in 2013; however, from 2014 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 India ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (+21.9%), while the other leaders experienced more modest paces of growth.

Mercury Imports

Imports in Asia-Pacific

In 2021, purchases abroad of mercuries increased by 14% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports, however, continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2016 with an increase of 24%. Over the period under review, imports attained the maximum at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, mercury imports skyrocketed to $X in 2021. In general, imports, however, recorded a abrupt downturn. The most prominent rate of growth was recorded in 2018 with an increase of 76% against the previous year. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

India was the main importing country with an import of around X tons, which recorded 60% of total imports. It was distantly followed by Vietnam (X tons), committing a 28% share of total imports. The following importers - Malaysia (X tons) and Australia (X tons) - each recorded a 6.2% share of total imports.

India experienced a relatively flat trend pattern with regard to volume of imports of mercuries. At the same time, Vietnam (+36.1%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +36.1% from 2012-2021. By contrast, Australia (-17.6%) and Malaysia (-18.3%) illustrated a downward trend over the same period. While the share of India (+37 p.p.) and Vietnam (+28 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Australia (-3.5 p.p.) and Malaysia (-5 p.p.) displayed negative dynamics.

In value terms, India ($X) constitutes the largest market for imported mercuries in Asia-Pacific, comprising 73% of total imports. The second position in the ranking was held by Vietnam ($X), with an 18% share of total imports. It was followed by Malaysia, with a 3.6% share.

In India, mercury imports decreased by an average annual rate of -3.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Vietnam (+31.1% per year) and Malaysia (-21.1% per year).

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per ton, with an increase of 9.6% against the previous year. Over the period under review, the import price, however, continues to indicate a perceptible curtailment. The most prominent rate of growth was recorded in 2018 an increase of 64% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2013; however, from 2014 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 India ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (-2.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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