Asia: Market for Caustic Soda in the Solid Form 2024

Market Size for Caustic Soda in the Solid Form in Asia

In 2021, the Asian market for caustic soda in the solid form increased by 20% to $X, rising for the second consecutive year after two years of decline. The total consumption indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +3.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +44.2% against 2019 indices. The level of consumption peaked in 2021 and is likely to see gradual growth in the near future.

Production of Caustic Soda in the Solid Form in Asia

In value terms, production of caustic soda in the solid form amounted to less than $X in 2021 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern.

Exports of Caustic Soda in the Solid Form

Exports in Asia

In 2021, shipments abroad of caustic soda in the solid form decreased by -16.3% to X tons, falling for the third year in a row after two years of growth. Over the period under review, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when exports increased by 36%. Over the period under review, the exports of caustic soda in solid form hit record highs at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, exports of caustic soda in the solid form reduced to $X in 2021. Overall, exports saw a perceptible slump. The most prominent rate of growth was recorded in 2017 with an increase of 32% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, China (X tons) represented the main exporter of caustic soda in the solid form, committing 48% of total exports. It was distantly followed by India (X tons), Taiwan (Chinese) (X tons), Iran (X tons) and Saudi Arabia (X tons), together generating a 37% share of total exports. The following exporters - Thailand (X tons) and Kuwait (X tons) - each resulted at a 7.5% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to caustic soda in the solid form exports from China stood at -2.8%. At the same time, Iran (+11.1%), India (+10.0%) and Kuwait (+4.7%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing exporter exported in Asia, with a CAGR of +11.1% from 2012-2021. Thailand experienced a relatively flat trend pattern. By contrast, Taiwan (Chinese) (-4.0%) and Saudi Arabia (-4.2%) illustrated a downward trend over the same period. While the share of India (+12 p.p.) and Iran (+3.4 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Saudi Arabia (-2.2 p.p.), Taiwan (Chinese) (-3.1 p.p.) and China (-13.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), India ($X) and Taiwan (Chinese) ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 70% share of total exports. Saudi Arabia, Iran, Thailand and Kuwait lagged somewhat behind, together accounting for a further 20%.

Among the main exporting countries, Iran, with a CAGR of +9.9%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, increasing by 8% against the previous year. In general, the export price, however, continues to indicate a noticeable decline. The pace of growth was the most pronounced in 2017 an increase of 24%. Over the period under review, the export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (-0.9%), while the other leaders experienced a decline in the export price figures.

Imports of Caustic Soda in the Solid Form

Imports in Asia

In 2021, supplies from abroad of caustic soda in the solid form was finally on the rise to reach X tons after two years of decline. The total import volume increased at an average annual rate of +2.7% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 23% against the previous year. Over the period under review, imports of caustic soda in solid form hit record highs at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, imports of caustic soda in the solid form skyrocketed to $X in 2021. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 28%. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Vietnam (X tons) and Indonesia (X tons) were the largest importers of caustic soda in the solid form in Asia, together committing 30% of total imports. It was distantly followed by Turkey (X tons), Kazakhstan (X tons), Thailand (X tons) and the Philippines (X tons), together creating a 25% share of total imports. South Korea (X tons), Uzbekistan (X tons), Malaysia (X tons), Myanmar (X tons), Bangladesh (X tons), Sri Lanka (X tons) and China (X tons) followed a long way behind the leaders.

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

In value terms, Vietnam ($X), Indonesia ($X) and Turkey ($X) were the countries with the highest levels of imports in 2021, together comprising 34% of total imports. Kazakhstan, Uzbekistan, Thailand, the Philippines, China, South Korea, Malaysia, Bangladesh, Sri Lanka and Myanmar lagged somewhat behind, together comprising a further 40%.

In terms of the main importing countries, Myanmar, with a CAGR of +13.3%, saw 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 stood at $X per ton in 2021, increasing by 7.4% against the previous year. Overall, the import price, however, continues to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2017 an increase of 19%. Over the period under review, import prices reached the maximum at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Myanmar ($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 (+2.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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