Eastern Asia: Carbides Market 2024

Carbides Market Size in Eastern Asia

The East Asian carbides market declined slightly to $X in 2022, waning by -3.8% against the previous year. In general, consumption recorded a noticeable slump. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Carbides Production in Eastern Asia

In value terms, carbides production reduced to $X in 2022 estimated in export price. In general, production recorded a pronounced reduction. The growth pace was the most rapid in 2018 with an increase of 29%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Carbides Exports

Exports in Eastern Asia

In 2022, shipments abroad of carbides increased by 7.3% to X tons, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of +4.3% 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 2021 when exports increased by 35%. The volume of export peaked in 2022 and is likely to see gradual growth in the near future.

In value terms, carbides exports skyrocketed to $X in 2022. Total exports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +108.0% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 62% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

China dominates exports structure, amounting to X tons, which was near 97% of total exports in 2022. Japan (X tons) held a little share of total exports.

China was also the fastest-growing in terms of the carbides exports, with a CAGR of +4.4% from 2012 to 2022. At the same time, Japan (+1.7%) displayed positive paces of growth. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest carbides supplier in Eastern Asia, comprising 90% of total exports. The second position in the ranking was taken by Japan ($X), with a 4.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +5.1%.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, picking up by 19% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by 20%. 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 stood at a somewhat 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 Japan ($X per ton), while China totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+0.7%).

Carbides Imports

Imports in Eastern Asia

In 2022, the amount of carbides imported in Eastern Asia contracted to X tons, therefore, remained relatively stable against the previous year's figure. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 33%. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, carbides imports expanded significantly to $X in 2022. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 52% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Japan (X tons) and South Korea (X tons) dominates imports structure, together comprising 84% of total imports. Taiwan (Chinese) (X tons) held an 8.9% share (based on physical terms) of total imports, which put it in second place, followed by China (7.1%).

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +12.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), South Korea ($X) and Taiwan (Chinese) ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 95% share of total imports. These countries were followed by China, which accounted for a further 4.6%.

In terms of the main importing countries, China, with a CAGR of +7.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, surging by 16% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by 45% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+0.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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