Central Asia: Carbon Dioxide Market 2024

Carbon Dioxide Market Size in Central Asia

The Central Asian carbon dioxide market expanded notably to $X in 2022, with an increase of 6.6% against the previous year. In general, consumption recorded a remarkable increase. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Carbon Dioxide Production in Central Asia

In value terms, carbon dioxide production reached $X in 2022 estimated in export price. In general, production showed resilient growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by 265%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Carbon Dioxide Exports

Exports in Central Asia

In 2022, exports of carbon dioxide in Central Asia surged to X tons, with an increase of 60% against the year before. Over the period under review, exports enjoyed significant growth. The pace of growth appeared the most rapid in 2021 when exports increased by 95%. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, carbon dioxide exports surged to $X in 2022. Overall, exports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2021 with an increase of 118% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the near future.

Exports by Country

Uzbekistan was the main exporter of carbon dioxide in Central Asia, with the volume of exports resulting at X tons, which was near 63% of total exports in 2022. It was distantly followed by Kazakhstan (X tons), achieving a 36% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Uzbekistan (with a CAGR of +15.5%).

In value terms, the largest carbon dioxide supplying countries in Central Asia were Kazakhstan ($X) and Uzbekistan ($X).

Uzbekistan, with a CAGR of +15.1%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

In 2022, the export price in Central Asia amounted to $X per ton, growing by 8.8% against the previous year. Over the period under review, the export price, however, recorded a deep slump. The pace of growth was the most pronounced in 2021 when the export price increased by 11% against the previous year. The level of export peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while Uzbekistan totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (-0.3%).

Carbon Dioxide Imports

Imports in Central Asia

In 2022, supplies from abroad of carbon dioxide increased by 61% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports enjoyed a prominent expansion. The growth pace was the most rapid in 2017 when imports increased by 74%. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, carbon dioxide imports soared to $X in 2022. Total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +8.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Kazakhstan represented the largest importer of carbon dioxide in Central Asia, with the volume of imports finishing at X tons, which was approx. 70% of total imports in 2022. It was distantly followed by Tajikistan (X tons), Kyrgyzstan (X tons) and Uzbekistan (X tons), together making up a 26% share of total imports. Mongolia (X tons) followed a long way behind the leaders.

Imports into Kazakhstan increased at an average annual rate of +13.4% from 2012 to 2022. At the same time, Uzbekistan (+375.3%), Mongolia (+40.5%), Kyrgyzstan (+23.9%) and Tajikistan (+10.3%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing importer imported in Central Asia, with a CAGR of +375.3% from 2012-2022. Uzbekistan (+5.6 p.p.), Kyrgyzstan (+5 p.p.) and Mongolia (+3.9 p.p.) significantly strengthened its position in terms of the total imports, while Tajikistan and Kazakhstan saw its share reduced by -4.8% and -6.5% from 2012 to 2022, respectively.

In value terms, Kazakhstan ($X) constitutes the largest market for imported carbon dioxide in Central Asia, comprising 62% of total imports. The second position in the ranking was held by Mongolia ($X), with a 13% share of total imports. It was followed by Kyrgyzstan, with a 9% share.

From 2012 to 2022, the average annual growth rate of value in Kazakhstan amounted to +6.1%. The remaining importing countries recorded the following average annual rates of imports growth: Mongolia (+41.7% per year) and Kyrgyzstan (+23.7% per year).

Import Prices by Country

The import price in Central Asia stood at $X per ton in 2022, dropping by -1.6% against the previous year. Over the period under review, the import price continues to indicate a abrupt downturn. The growth pace was the most rapid in 2021 when the import price increased by 12% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 Mongolia ($X per ton), while Tajikistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mongolia (+0.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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