Asia-Pacific: Potassium Hydroxide Market 2024

Potassium Hydroxide Market Size in Asia-Pacific

The Asia-Pacific potassium hydroxide market was estimated at $X in 2022, stabilizing at the previous year. In general, consumption recorded a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Potassium Hydroxide Production in Asia-Pacific

In value terms, potassium hydroxide production rose to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 16%. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Potassium Hydroxide Exports

Exports in Asia-Pacific

In 2022, potassium hydroxide exports in Asia-Pacific surged to X tons, rising by 29% compared with the year before. Total exports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +8.0% 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 +71.4% against 2016 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, potassium hydroxide exports skyrocketed to $X in 2022. In general, exports enjoyed a strong increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, South Korea (X tons) was the key exporter of potassium hydroxide (caustic potash), generating 72% of total exports. It was distantly followed by China (X tons), creating a 20% share of total exports. The following exporters - Malaysia (X tons) and Taiwan (Chinese) (X tons) - together made up 5.3% of total exports.

Exports from South Korea increased at an average annual rate of +7.6% from 2012 to 2022. At the same time, Malaysia (+34.3%) and China (+9.9%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +34.3% from 2012-2022. Taiwan (Chinese) experienced a relatively flat trend pattern. While the share of China (+3.2 p.p.) and Malaysia (+2.9 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of South Korea (-2.4 p.p.) and Taiwan (Chinese) (-2.7 p.p.) displayed negative dynamics.

In value terms, South Korea ($X) remains the largest potassium hydroxide supplier in Asia-Pacific, comprising 66% of total exports. The second position in the ranking was taken by China ($X), with a 25% share of total exports. It was followed by Taiwan (Chinese), with a 1.6% share.

In South Korea, potassium hydroxide exports increased at an average annual rate of +8.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (+13.5% per year) and Taiwan (Chinese) (-1.8% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, increasing by 42% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. As a result, the export 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 exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while Malaysia ($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 (+3.2%), while the other leaders experienced mixed trends in the export price figures.

Potassium Hydroxide Imports

Imports in Asia-Pacific

In 2022, the amount of potassium hydroxide (caustic potash) imported in Asia-Pacific declined to X tons, waning by -3.4% against 2021. The total import volume increased at an average annual rate of +4.2% over the period 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 2013 when imports increased by 51%. Over the period under review, imports hit record highs at X tons in 2021, and then reduced slightly in the following year.

In value terms, potassium hydroxide imports soared to $X in 2022. The total import value increased at an average annual rate of +3.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 27% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

In 2022, Malaysia (X tons) represented the largest importer of potassium hydroxide (caustic potash), committing 30% of total imports. It was distantly followed by Indonesia (X tons), Singapore (X tons), India (X tons), Japan (X tons), Thailand (X tons) and the Philippines (X tons), together making up a 52% share of total imports.

Malaysia was also the fastest-growing in terms of the potassium hydroxide (caustic potash) imports, with a CAGR of +16.8% from 2012 to 2022. At the same time, Singapore (+9.3%) and Indonesia (+6.2%) displayed positive paces of growth. Thailand, the Philippines and India experienced a relatively flat trend pattern. By contrast, Japan (-2.8%) illustrated a downward trend over the same period. Malaysia (+21 p.p.), Singapore (+4.3 p.p.) and Indonesia (+2 p.p.) significantly strengthened its position in terms of the total imports, while Thailand, the Philippines, India and Japan saw its share reduced by -2.5%, -2.5%, -5.3% and -7.2% from 2012 to 2022, respectively.

In value terms, Malaysia ($X), Indonesia ($X) and India ($X) were the countries with the highest levels of imports in 2022, together comprising 47% of total imports.

Malaysia, with a CAGR of +11.2%, saw the highest growth rate of 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 2022, rising by 24% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+3.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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