Asia: Silicates Market 2024

Silicates Market Size in Asia

The Asian silicates market dropped to $X in 2021, reducing by -5.2% against the previous year. Over the period under review, consumption showed a perceptible descent. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Silicates Production in Asia

In value terms, silicates production shrank slightly to $X in 2021 estimated in export price. Overall, production recorded a noticeable setback. The pace of growth appeared the most rapid in 2020 when the production volume increased by 19% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Silicates Exports

Exports in Asia

In 2021, silicates exports in Asia rose significantly to X tons, picking up by 11% compared with the previous year's figure. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 19% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, silicates exports surged to $X in 2021. The total export value increased at an average annual rate of +1.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China prevails in exports structure, reaching X tons, which was approx. 64% of total exports in 2021. India (X tons) held the second position in the ranking, followed by Taiwan (Chinese) (X tons) and Indonesia (X tons). All these countries together held approx. 20% share of total exports. Saudi Arabia (X tons), Malaysia (X tons), Thailand (X tons) and Japan (X tons) held a relatively small share of total exports.

Exports from China decreased at an average annual rate of -1.9% from 2012 to 2021. At the same time, Taiwan (Chinese) (+14.3%), Indonesia (+8.1%), Malaysia (+8.0%), India (+6.1%), Thailand (+5.5%) and Japan (+2.6%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Asia, with a CAGR of +14.3% from 2012-2021. By contrast, Saudi Arabia (-7.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Taiwan (Chinese), India and Indonesia increased by +4.8, +3.3 and +2.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest silicates supplier in Asia, comprising 55% of total exports. The second position in the ranking was taken by Japan ($X), with an 8.7% share of total exports. It was followed by Taiwan (Chinese), with a 6.4% share.

From 2012 to 2021, the average annual growth rate of value in China amounted to +3.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (+3.1% per year) and Taiwan (Chinese) (+0.5% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, growing by 17% against the previous year. Over the last nine years, it increased at an average annual rate of +2.2%. 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 Japan ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+5.3%), while the other leaders experienced more modest paces of growth.

Silicates Imports

Imports in Asia

After two years of decline, overseas purchases of silicates, commercial alkali metal silicates increased by 21% to X tons in 2021. Over the period under review, imports saw a relatively flat trend pattern. Over the period under review, imports attained the maximum at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, silicates imports skyrocketed to $X in 2021. In general, imports showed a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, South Korea (X tons), Japan (X tons) and Taiwan (Chinese) (X tons) was the largest importer of silicates, commercial alkali metal silicates in Asia, achieving 49% of total import. Turkey (X tons) ranks next in terms of the total imports with a 7% share, followed by Malaysia (7%) and Indonesia (6.4%). The following importers - the Philippines (X tons), Singapore (X tons), Afghanistan (X tons), Hong Kong SAR (X tons), Bangladesh (X tons), Vietnam (X tons) and China (X tons) - together made up 16% of total imports.

From 2012 to 2021, the biggest increases were recorded for Malaysia (with a CAGR of +19.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest silicates importing markets in Asia were South Korea ($X), Japan ($X) and Taiwan (Chinese) ($X), together comprising 36% of total imports. These countries were followed by China, Indonesia, Turkey, Malaysia, the Philippines, Vietnam, Bangladesh, Singapore, Hong Kong SAR and Afghanistan, which together accounted for a further 39%.

Bangladesh, with a CAGR of +18.5%, saw the highest rates of growth with regard to the value of imports, in terms of 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 stood at $X per ton in 2021, picking up by 6.6% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the import price increased by 8.9%. The level of import peaked in 2021 and is expected to retain growth in years to come.

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 China ($X per ton), while Afghanistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bangladesh (+4.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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