Asia-Pacific: Sulphites Market 2024

Sulphites Market Size in Asia-Pacific

The Asia-Pacific sulphites market amounted to $X in 2022, increasing by 2.6% against the previous year. The market value increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Sulphites Production in Asia-Pacific

In value terms, sulphites production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 with an increase of 12% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Sulphites Exports

Exports in Asia-Pacific

In 2022, overseas shipments of sulphites increased by 6.6% to X tons, rising for the second year in a row after two years of decline. In general, exports posted resilient growth. The most prominent rate of growth was recorded in 2017 when exports increased by 52%. The volume of export peaked in 2022 and is likely to see gradual growth in the near future.

In value terms, sulphites exports skyrocketed to $X in 2022. Overall, exports saw resilient growth. The growth pace was the most rapid in 2018 with an increase of 45% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

China was the key exporting country with an export of about X tons, which finished at 73% of total exports. Thailand (X tons) held a 15% share (based on physical terms) of total exports, which put it in second place, followed by India (11%).

From 2012 to 2022, average annual rates of growth with regard to sulphites exports from China stood at +10.0%. At the same time, India (+15.2%) and Thailand (+4.4%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +15.2% from 2012-2022. While the share of China (+5.7 p.p.) and India (+4.8 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Thailand (-8.2 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest sulphites supplier in Asia-Pacific, comprising 71% of total exports. The second position in the ranking was held by Thailand ($X), with a 19% share of total exports.

From 2012 to 2022, the average annual growth rate of value in China amounted to +12.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (+6.9% per year) and India (+16.2% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, with an increase of 17% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while India ($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 (+2.5%), while the other leaders experienced more modest paces of growth.

Sulphites Imports

Imports in Asia-Pacific

In 2022, overseas purchases of sulphites increased by 6.2% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +4.3% 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 19% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, sulphites imports soared to $X in 2022. Total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +56.2% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Australia (X tons), Indonesia (X tons), the Philippines (X tons), South Korea (X tons), India (X tons) and Bangladesh (X tons) represented roughly 68% of total imports in 2022. It was distantly followed by Thailand (X tons), committing a 4.6% share of total imports. Vietnam (X tons), Malaysia (X tons), Pakistan (X tons), Taiwan (Chinese) (X tons), Japan (X tons) and Cambodia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Cambodia (with a CAGR of +50.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X), the Philippines ($X) and South Korea ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 40% share of total imports. Indonesia, India, Bangladesh, Vietnam, Thailand, Taiwan (Chinese), Malaysia, Pakistan, Japan and Cambodia lagged somewhat behind, together accounting for a further 49%.

In terms of the main importing countries, Cambodia, with a CAGR of +56.4%, recorded the highest rates of growth with regard to the value of imports, 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, surging by 19% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cambodia ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+4.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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