Asia-Pacific: Market for Scouring Pastes And Powders 2024

Market Size for Scouring Pastes And Powders in Asia-Pacific

After four years of growth, the Asia-Pacific scouring pastes and powders market decreased by -7.1% to $X in 2021. The market value increased at an average annual rate of +1.7% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The level of consumption peaked at $X in 2020, and then shrank in the following year.

Production of Scouring Pastes And Powders in Asia-Pacific

In value terms, scouring pastes and powders production declined modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.7% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 when the production volume increased by 15% against the previous year. Over the period under review, production attained the peak level at $X in 2020, and then declined in the following year.

Exports of Scouring Pastes And Powders

Exports in Asia-Pacific

Scouring pastes and powders exports rose significantly to X tons in 2021, surging by 13% compared with the previous year. Total exports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +5.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +88.0% against 2015 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 21% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to continue growth in years to come.

In value terms, scouring pastes and powders exports soared to $X in 2021. Overall, exports enjoyed buoyant growth. The pace of growth was the most pronounced in 2020 with an increase of 24% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Japan represented the largest exporter of scouring pastes and powders in Asia-Pacific, with the volume of exports amounting to X tons, which was approx. 78% of total exports in 2021. It was distantly followed by South Korea (X tons), mixing up a 13% share of total exports. China (X tons) and India (X tons) followed a long way behind the leaders.

Exports from Japan increased at an average annual rate of +6.0% from 2012 to 2021. At the same time, South Korea (+18.2%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +18.2% from 2012-2021. India experienced a relatively flat trend pattern. By contrast, China (-5.4%) illustrated a downward trend over the same period. South Korea (+8.5 p.p.) and Japan (+1.8 p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by -5.8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) remains the largest scouring pastes and powders supplier in Asia-Pacific, comprising 85% of total exports. The second position in the ranking was taken by South Korea ($X), with a 12% share of total exports. It was followed by China, with a 1.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Japan amounted to +7.3%. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (+19.9% per year) and China (-3.6% per year).

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per ton, surging by 4.7% against the previous year. Over the last nine years, it increased at an average annual rate of +1.8%. The most prominent rate of growth was recorded in 2017 when the export price increased by 5.5%. Over the period under review, the export prices hit record highs in 2021 and is expected to retain growth in years to come.

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 Japan ($X per ton), while India ($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 (+5.3%), while the other leaders experienced more modest paces of growth.

Imports of Scouring Pastes And Powders

Imports in Asia-Pacific

In 2021, imports of scouring pastes and powders in Asia-Pacific shrank to X tons, declining by -5.2% on 2020 figures. In general, imports continue to indicate a slight decline. The most prominent rate of growth was recorded in 2016 when imports increased by 45% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, scouring pastes and powders imports skyrocketed to $X in 2021. Overall, imports continue to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2017 with an increase of 16%. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, South Korea (X tons) was the key importer of scouring pastes and powders, committing 70% of total imports. It was distantly followed by Japan (X tons), achieving a 13% share of total imports. The following importers - Vietnam (X tons), Thailand (X tons), Hong Kong SAR (X tons), China (X tons) and Singapore (X tons) - together made up 11% of total imports.

From 2012 to 2021, average annual rates of growth with regard to scouring pastes and powders imports into South Korea stood at -1.9%. At the same time, Vietnam (+26.5%), Singapore (+21.8%) and Japan (+2.6%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +26.5% from 2012-2021. China experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (-4.9%) and Thailand (-9.2%) illustrated a downward trend over the same period. While the share of Japan (+4 p.p.), Vietnam (+2.5 p.p.) and Singapore (+1.6 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Thailand (-2.6 p.p.) and South Korea (-3.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X) constitutes the largest market for imported scouring pastes and powders in Asia-Pacific, comprising 68% of total imports. The second position in the ranking was taken by Japan ($X), with a 16% share of total imports. It was followed by Thailand, with a 4.1% share.

In South Korea, scouring pastes and powders imports declined by an average annual rate of -3.6% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Japan (-3.4% per year) and Thailand (-8.4% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, growing by 22% against the previous year. Overall, the import price, however, continues to indicate a noticeable shrinkage. Over the period under review, import prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

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 Thailand ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+3.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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