Central Asia: Sulphur Market 2024

Sulphur Market Size in Central Asia

The Central Asian sulphur market declined dramatically to $X in 2022, which is down by -77.3% against the previous year. Overall, consumption saw a abrupt decrease. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Sulphur Production in Central Asia

In value terms, sulphur production contracted slightly to $X in 2022 estimated in export price. Overall, production saw a mild setback. The growth pace was the most rapid in 2017 with an increase of 33%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Sulphur Exports

Exports in Central Asia

In 2022, the amount of sulphur exported in Central Asia soared to X tons, rising by 65% compared with 2021 figures. Over the period under review, exports posted a strong expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 67%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, sulphur exports surged to $X in 2022. Overall, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 134% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

Kazakhstan dominates exports structure, finishing at X tons, which was near 88% of total exports in 2022. Turkmenistan (X tons) held a 6.2% share (based on physical terms) of total exports, which put it in second place, followed by Uzbekistan (5.3%).

Exports from Kazakhstan increased at an average annual rate of +4.6% from 2012 to 2022. At the same time, Uzbekistan (+29.8%) and Turkmenistan (+8.6%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing exporter exported in Central Asia, with a CAGR of +29.8% from 2012-2022. While the share of Uzbekistan (+4.7 p.p.) and Turkmenistan (+1.6 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Kazakhstan (-5.9 p.p.) displayed negative dynamics.

In value terms, Kazakhstan ($X) remains the largest sulphur supplier in Central Asia, comprising 80% of total exports. The second position in the ranking was held by Uzbekistan ($X), with a 12% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Kazakhstan was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Uzbekistan (+31.5% per year) and Turkmenistan (+2.0% per year).

Export Prices by Country

In 2022, the export price in Central Asia amounted to $X per ton, waning by -4.4% against the previous year. In general, the export price continues to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2021 an increase of 52% 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.

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 Uzbekistan ($X per ton), while Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+1.4%), while the other leaders experienced a decline in the export price figures.

Sulphur Imports

Imports in Central Asia

In 2022, approx. X tons of sulphur were imported in Central Asia; falling by -28.3% against 2021. In general, imports, however, showed a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 789%. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, sulphur imports fell to $X in 2022. Overall, imports, however, posted a strong increase. The growth pace was the most rapid in 2021 when imports increased by 582%. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Kazakhstan represented the key importer of sulphur in Central Asia, with the volume of imports accounting for X tons, which was approx. 62% of total imports in 2022. Uzbekistan (X tons) held the second position in the ranking, followed by Tajikistan (X tons). All these countries together took approx. 35% share of total imports. Turkmenistan (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to sulphur imports into Kazakhstan stood at +20.8%. At the same time, Tajikistan (+23.9%) and Uzbekistan (+22.7%) displayed positive paces of growth. Moreover, Tajikistan emerged as the fastest-growing importer imported in Central Asia, with a CAGR of +23.9% from 2012-2022. By contrast, Turkmenistan (-50.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Tajikistan, Uzbekistan and Turkmenistan increased by +2.7, +2.3 and +1.7 percentage points, respectively.

In value terms, the largest sulphur importing markets in Central Asia were Uzbekistan ($X), Kazakhstan ($X) and Tajikistan ($X), together accounting for 94% of total imports.

Uzbekistan, with a CAGR of +34.1%, recorded 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

In 2022, the import price in Central Asia amounted to $X per ton, jumping by 32% against the previous year. Over the period under review, the import price, however, saw a mild reduction. The growth pace was the most rapid in 2014 an increase of 108%. The level of import peaked at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

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 Turkmenistan ($X per ton), while Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+9.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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