Asia: Sulphur Market 2024

Sulphur Market Size in Asia

The Asian sulphur market fell markedly to $X in 2022, shrinking by -26% against the previous year. Over the period under review, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then declined notably in the following year.

Sulphur Production in Asia

In value terms, sulphur production declined sharply to $X in 2022 estimated in export price. In general, production recorded a prominent increase. The most prominent rate of growth was recorded in 2021 when the production volume increased by 169%. As a result, production reached the peak level of $X, and then reduced sharply in the following year.

Sulphur Exports

Exports in Asia

In 2022, the amount of sulphur exported in Asia surged to X tons, growing by 61% against the previous year. Over the period under review, exports recorded buoyant growth. The pace of growth appeared the most rapid in 2021 when exports increased by 128% against the previous year. The volume of export peaked in 2022 and is likely to see gradual growth in the near future.

In value terms, sulphur exports surged to $X in 2022. In general, exports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2021 with an increase of 237%. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports by Country

Japan was the largest exporting country with an export of around X tons, which reached 60% of total exports. It was distantly followed by Qatar (X tons), the United Arab Emirates (X tons) and Kazakhstan (X tons), together achieving a 27% share of total exports. Saudi Arabia (X tons), India (X tons) and South Korea (X tons) took a little share of total exports.

Japan was also the fastest-growing in terms of the sulphur exports, with a CAGR of +44.5% from 2012 to 2022. At the same time, India (+23.8%), Qatar (+14.5%), the United Arab Emirates (+9.3%), Kazakhstan (+4.6%) and South Korea (+3.4%) displayed positive paces of growth. Saudi Arabia experienced a relatively flat trend pattern. Japan (+54 p.p.) significantly strengthened its position in terms of the total exports, while Qatar, South Korea, the United Arab Emirates, Saudi Arabia and Kazakhstan saw its share reduced by -1.6%, -3.8%, -7%, -14.5% and -15.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) remains the largest sulphur supplier in Asia, comprising 66% of total exports. The second position in the ranking was held by Qatar ($X), with a 9% share of total exports. It was followed by the United Arab Emirates, with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Japan stood at +45.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Qatar (+7.1% per year) and the United Arab Emirates (+0.4% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, increasing by 4.3% against the previous year. Over the period under review, the export price, however, showed a pronounced reduction. The pace of growth appeared the most rapid in 2021 an increase of 48% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+4.4%), while the other leaders experienced mixed trends in the export price figures.

Sulphur Imports

Imports in Asia

In 2022, imports of sulphur in Asia contracted remarkably to X tons, which is down by -46.6% on 2021 figures. In general, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 120%. As a result, imports attained the peak of X tons, and then declined markedly in the following year.

In value terms, sulphur imports soared to $X in 2022. Over the period under review, imports, however, continue to indicate moderate growth. The most prominent rate of growth was recorded in 2021 with an increase of 154% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in the immediate term.

Imports by Country

China was the key importing country with an import of around X tons, which recorded 54% of total imports. It was distantly followed by Indonesia (X tons), India (X tons) and Israel (X tons), together achieving a 33% share of total imports. Turkey (X tons), Saudi Arabia (X tons) and the United Arab Emirates (X tons) held a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to sulphur imports into China stood at -3.7%. At the same time, Saudi Arabia (+111.6%), the United Arab Emirates (+60.8%), Indonesia (+18.5%), Turkey (+8.9%) and Israel (+5.6%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing importer imported in Asia, with a CAGR of +111.6% from 2012-2022. By contrast, India (-2.9%) illustrated a downward trend over the same period. Indonesia (+10 p.p.), Israel (+4.4 p.p.), Saudi Arabia (+2.1 p.p.), the United Arab Emirates (+1.6 p.p.) and Turkey (+1.5 p.p.) significantly strengthened its position in terms of the total imports, while India and China saw its share reduced by -2.8% and -20% from 2012 to 2022, respectively.

In value terms, China ($X) constitutes the largest market for imported sulphur in Asia, comprising 61% of total imports. The second position in the ranking was held by India ($X), with an 11% share of total imports. It was followed by Indonesia, with an 11% share.

In China, sulphur imports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (-0.2% per year) and Indonesia (+18.7% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, picking up by 187% against the previous year. Overall, the import price recorded tangible growth. As a result, import price attained 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 Turkey ($X per ton), while the United Arab Emirates ($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 (+5.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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