Asia-Pacific: Sodium Phosphates Market 2024

Sodium Phosphates Market Size in Asia-Pacific

The Asia-Pacific sodium phosphates market shrank to $X in 2021, which is down by -9.9% against the previous year. The market value increased at an average annual rate of +3.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X, and then dropped in the following year.

Sodium Phosphates Production in Asia-Pacific

In value terms, sodium phosphates production reduced slightly to $X in 2021 estimated in export price. Overall, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 41%. As a result, production reached the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Sodium Phosphates Exports

Exports in Asia-Pacific

After two years of decline, shipments abroad of phosphates of mono- or di-sodium increased by 35% to X tons in 2021. The total export volume increased at an average annual rate of +2.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, sodium phosphates exports soared to $X in 2021. Total exports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +7.3% 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 2014 with an increase of 97%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

China was the key exporting country with an export of around X tons, which reached 79% of total exports. It was distantly followed by Thailand (X tons), committing a 15% share of total exports. India (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to sodium phosphates exports from China stood at +7.7%. At the same time, India (+12.0%) and Thailand (+5.7%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +12.0% from 2012-2021. While the share of China (+30 p.p.) and Thailand (+3.8 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest sodium phosphates supplier in Asia-Pacific, comprising 72% of total exports. The second position in the ranking was held by Thailand ($X), with a 15% share of total exports.

In China, sodium phosphates exports increased at an average annual rate of +10.0% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (+6.0% per year) and India (+18.9% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2021, with an increase of 10% against the previous year. Export price indicated a strong increase from 2012 to 2021: its price increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, sodium phosphates export price increased by +25.2% against 2017 indices. The pace of growth was the most pronounced in 2014 when the export price increased by 92%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+6.2%), while the other leaders experienced more modest paces of growth.

Sodium Phosphates Imports

Imports in Asia-Pacific

Sodium phosphates imports totaled X tons in 2021, surging by 2.9% against 2020 figures. Total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +7.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +24.0% against 2019 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 36%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, sodium phosphates imports surged to $X in 2021. Total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +9.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +35.3% against 2019 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 30% against the previous year. The level of import peaked in 2021 and is likely to see steady growth in the immediate term.

Imports by Country

In 2021, Thailand (X tons), distantly followed by Indonesia (X tons), Malaysia (X tons), the Philippines (X tons), South Korea (X tons), India (X tons) and Pakistan (X tons) represented the largest importers of phosphates of mono- or di-sodium, together achieving 84% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by South Korea (with a CAGR of +24.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Indonesia ($X) and South Korea ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 45% of total imports.

South Korea, with a CAGR of +21.6%, saw the highest rates of growth with regard to the value of imports, among the main importing countries 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-Pacific stood at $X per ton in 2021, picking up by 23% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.3%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 South Korea ($X per ton), while Thailand ($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 (+4.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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