Asia-Pacific: Sulphuric Acid Market 2024

Sulphuric Acid Market Size in Asia-Pacific

The Asia-Pacific sulphuric acid market rose modestly to $X in 2022, growing by 1.7% against the previous year. The market value increased at an average annual rate of +1.9% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Sulphuric Acid Production in Asia-Pacific

In value terms, sulphuric acid production reduced modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when the production volume increased by 17%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Sulphuric Acid Exports

Exports in Asia-Pacific

In 2022, exports of sulphuric acid and oleum in Asia-Pacific surged to X tons, growing by 78% on the previous year's figure. In general, exports saw resilient growth. The growth pace was the most rapid in 2021 with an increase of 208% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, sulphuric acid exports surged to $X in 2022. Over the period under review, exports enjoyed strong growth. The most prominent rate of growth was recorded in 2021 with an increase of 259%. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

Japan represented the largest exporter of sulphuric acid and oleum in Asia-Pacific, with the volume of exports accounting for X tons, which was approx. 59% of total exports in 2022. South Korea (X tons) held the second position in the ranking, distantly followed by China (X tons). All these countries together held near 36% share of total exports. The Philippines (X tons) followed a long way behind the leaders.

Exports from Japan increased at an average annual rate of +15.3% from 2012 to 2022. At the same time, China (+48.1%), the Philippines (+28.4%) and South Korea (+2.2%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +48.1% from 2012-2022. Japan (+19 p.p.) and China (+11 p.p.) significantly strengthened its position in terms of the total exports, while South Korea saw its share reduced by -30.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest sulphuric acid supplying countries in Asia-Pacific were China ($X), Japan ($X) and South Korea ($X), together accounting for 82% of total exports.

China, with a CAGR of +54.1%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, with a decrease of -12.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. The pace of growth appeared the most rapid in 2021 when the export price increased by 16% against the previous year. As a result, the export price reached the peak level of $X per ton, and then contracted in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+6.5%), while the other leaders experienced more modest paces of growth.

Sulphuric Acid Imports

Imports in Asia-Pacific

In 2022, the amount of sulphuric acid and oleum imported in Asia-Pacific skyrocketed to X tons, picking up by 44% against the previous year's figure. In general, imports showed a buoyant expansion. The pace of growth was the most pronounced in 2021 with an increase of 113%. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in years to come.

In value terms, sulphuric acid imports skyrocketed to $X in 2022. Overall, imports enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2021 when imports increased by 144% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

The Philippines (X tons) and India (X tons) represented roughly 65% of total imports in 2022. Thailand (X tons) ranks next in terms of the total imports with a 9.7% share, followed by Indonesia (7.6%). China (X tons), Vietnam (X tons) and Malaysia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Thailand (with a CAGR of +19.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest sulphuric acid importing markets in Asia-Pacific were India ($X), the Philippines ($X) and Thailand ($X), together comprising 78% of total imports.

Among the main importing countries, Thailand, with a CAGR of +17.9%, saw the highest growth rate of 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, picking up by 18% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+11.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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