Asia: Sulphites Market 2024

Sulphites Market Size in Asia

For the third year in a row, the Asian sulphites market recorded decline in sales value, which decreased by -1.2% to $X in 2022. Over the period under review, consumption saw a pronounced decrease. The most prominent rate of growth was recorded in 2019 with an increase of 4.2%. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Sulphites Production in Asia

In value terms, sulphites production reduced to $X in 2022 estimated in export price. Overall, production, however, showed a deep reduction. The most prominent rate of growth was recorded in 2021 when the production volume increased by 16%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Sulphites Exports

Exports in Asia

In 2022, shipments abroad of sulphites increased by 5.9% to X tons, rising for the second year in a row after two years of decline. In general, exports showed a resilient increase. The most prominent rate of growth was recorded in 2017 when exports increased by 50%. The volume of export peaked in 2022 and is expected to retain growth in years to come.

In value terms, sulphites exports skyrocketed to $X in 2022. Overall, exports enjoyed prominent growth. The most prominent rate of growth was recorded in 2018 when exports increased by 44% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

China represented the largest exporter of sulphites in Asia, with the volume of exports finishing at X tons, which was near 67% of total exports in 2022. It was distantly followed by Thailand (X tons), India (X tons) and Turkey (X tons), together comprising a 31% share of total exports.

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%), Turkey (+8.1%) and Thailand (+4.4%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia, with a CAGR of +15.2% from 2012-2022. China (+7 p.p.) and India (+4.6 p.p.) significantly strengthened its position in terms of the total exports, while Thailand saw its share reduced by -7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest sulphites supplier in Asia, comprising 63% of total exports. The second position in the ranking was taken by Thailand ($X), with a 17% share of total exports. It was followed by Turkey, with a 10% share.

From 2012 to 2022, the average annual growth rate of value in China totaled +12.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (+6.9% per year) and Turkey (+13.2% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, increasing by 20% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. 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 Turkey ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+4.8%), while the other leaders experienced more modest paces of growth.

Sulphites Imports

Imports in Asia

For the third consecutive year, Asia recorded growth in purchases abroad of sulphites, which increased by 5.9% to X tons in 2022. The total import volume increased at an average annual rate of +3.3% 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 2018 with an increase of 19%. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, sulphites imports surged to $X in 2022. Total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.2% 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 +40.4% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Indonesia (X tons), the Philippines (X tons), South Korea (X tons), India (X tons), Bangladesh (X tons), Kazakhstan (X tons), Thailand (X tons), Vietnam (X tons), Malaysia (X tons), Pakistan (X tons), Taiwan (Chinese) (X tons) and the United Arab Emirates (X tons) represented roughly 80% of total imports in 2022. Turkey (X tons) held a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +21.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Philippines ($X), South Korea ($X) and Indonesia ($X) were the countries with the highest levels of imports in 2022, with a combined 30% share of total imports. India, Kazakhstan, Bangladesh, Turkey, Vietnam, Thailand, Taiwan (Chinese), Malaysia, Pakistan and the United Arab Emirates lagged somewhat behind, together comprising a further 48%.

In terms of the main importing countries, Turkey, with a CAGR of +25.8%, recorded 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 stood at $X per ton in 2022, jumping by 20% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Turkey ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (+6.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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