China: Sulphites Market 2024

Sulphites Market Size in China

In 2022, the Chinese sulphites market decreased by -6.1% to $X, falling for the second consecutive year after three years of growth. Overall, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Sulphites Production in China

In value terms, sulphites production fell modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when the production volume increased by 21% against the previous year. Sulphites production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Sulphites Exports

Exports from China

In 2022, shipments abroad of sulphites increased by 11% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of 78%. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, sulphites exports skyrocketed to $X in 2022. Overall, exports saw a buoyant increase. The pace of growth appeared the most rapid in 2018 with an increase of 54% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Tanzania (X tons) was the main destination for sulphites exports from China, accounting for a 22% share of total exports. Moreover, sulphites exports to Tanzania exceeded the volume sent to the second major destination, Indonesia (X tons), fourfold. The third position in this ranking was held by South Africa (X tons), with a 6% share.

From 2012 to 2022, the average annual growth rate of volume to Tanzania amounted to +23.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+6.6% per year) and South Africa (+5.7% per year).

In value terms, Tanzania ($X) remains the key foreign market for sulphites exports from China, comprising 19% of total exports. The second position in the ranking was held by Ecuador ($X), with a 6.2% share of total exports. It was followed by South Africa, with a 5.8% share.

From 2012 to 2022, the average annual growth rate of value to Tanzania totaled +24.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+26.5% per year) and South Africa (+8.4% per year).

Export Prices by Country

The average sulphites export price stood at $X per ton in 2022, surging by 19% against the previous year. Over the last decade, it increased at an average annual rate of +2.5%. The pace of growth appeared the most rapid in 2016 an increase of 29%. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Ecuador ($X per ton), while the average price for exports to Tanzania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ecuador (+6.3%), while the prices for the other major destinations experienced more modest paces of growth.

Sulphites Imports

Imports into China

After three years of growth, overseas purchases of sulphites decreased by -33.5% to X tons in 2022. In general, imports, however, posted a resilient increase. The pace of growth was the most pronounced in 2020 when imports increased by 79%. Over the period under review, imports attained the maximum at X tons in 2021, and then reduced markedly in the following year.

In value terms, sulphites imports reduced markedly to $X in 2022. Over the period under review, imports, however, saw resilient growth. The pace of growth appeared the most rapid in 2020 with an increase of 48%. Imports peaked at $X in 2021, and then dropped remarkably in the following year.

Imports by Country

In 2022, Germany (X tons) constituted the largest sulphites supplier to China, with a 39% share of total imports. Moreover, sulphites imports from Germany exceeded the figures recorded by the second-largest supplier, Japan (X tons), twofold. Thailand (X tons) ranked third in terms of total imports with a 9% share.

From 2012 to 2022, the average annual growth rate of volume from Germany stood at +1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+20.3% per year) and Thailand (-1.6% per year).

In value terms, the largest sulphites suppliers to China were Germany ($X), Japan ($X) and Italy ($X), with a combined 82% share of total imports.

In terms of the main suppliers, Japan, with a CAGR of +15.9%, recorded 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

In 2022, the average sulphites import price amounted to $X per ton, increasing by 21% against the previous year. In general, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sulphites import price increased by +31.6% against 2020 indices. The pace of growth appeared the most rapid in 2014 when the average import price increased by 23% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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