Eastern Asia: Carbon Dioxide Market 2024

Carbon Dioxide Market Size in Eastern Asia

The East Asian carbon dioxide market dropped to $X in 2022, which is down by -9.5% against the previous year. Overall, consumption showed a perceptible decline. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Carbon Dioxide Production in Eastern Asia

In value terms, carbon dioxide production shrank to $X in 2022 estimated in export price. In general, production showed a mild setback. The most prominent rate of growth was recorded in 2018 when the production volume increased by 101% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Carbon Dioxide Exports

Exports in Eastern Asia

In 2022, after two years of growth, there was significant decline in overseas shipments of carbon dioxide, when their volume decreased by -18.4% to X tons. Total exports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of +2.4% 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 +30.4% against 2019 indices. The growth pace was the most rapid in 2015 with an increase of 62% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, carbon dioxide exports contracted to $X in 2022. Total exports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.3% 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 +56.0% against 2018 indices. The pace of growth appeared the most rapid in 2021 with an increase of 45% against the previous year. As a result, the exports reached the peak of $X, and then fell in the following year.

Exports by Country

In 2022, China (X tons) represented the major exporter of carbon dioxide, making up 76% of total exports. It was distantly followed by South Korea (X tons) and Taiwan (Chinese) (X tons), together comprising a 24% share of total exports.

China was also the fastest-growing in terms of the carbon dioxide exports, with a CAGR of +10.7% from 2012 to 2022. Taiwan (Chinese) (-4.0%) and South Korea (-8.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by +41 percentage points.

In value terms, the largest carbon dioxide supplying countries in Eastern Asia were China ($X), Taiwan (Chinese) ($X) and South Korea ($X), together comprising 84% of total exports.

In terms of the main exporting countries, China, with a CAGR of +19.5%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, growing by 7.7% against the previous year. Export price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, carbon dioxide export price increased by +3.0% against 2019 indices. The pace of growth was the most pronounced in 2019 an increase of 40%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+11.8%), while the other leaders experienced more modest paces of growth.

Carbon Dioxide Imports

Imports in Eastern Asia

For the fourth year in a row, Eastern Asia recorded growth in supplies from abroad of carbon dioxide, which increased by 22% to X tons in 2022. Over the period under review, imports recorded a buoyant increase. The pace of growth appeared the most rapid in 2013 with an increase of 111% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, carbon dioxide imports declined modestly to $X in 2022. Overall, imports posted a buoyant expansion. The growth pace was the most rapid in 2020 when imports increased by 47% against the previous year. The level of import peaked at $X in 2021, and then contracted modestly in the following year.

Imports by Country

South Korea was the key importing country with an import of about X tons, which accounted for 37% of total imports. Taiwan (Chinese) (X tons) held a 21% share (based on physical terms) of total imports, which put it in second place, followed by Hong Kong SAR (21%) and China (18%). Macao SAR (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by South Korea (with a CAGR of +38.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constitutes the largest market for imported carbon dioxide in Eastern Asia, comprising 30% of total imports. The second position in the ranking was taken by South Korea ($X), with a 15% share of total imports. It was followed by Taiwan (Chinese), with a 9.3% share.

In China, carbon dioxide imports expanded at an average annual rate of +19.6% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+16.8% per year) and Taiwan (Chinese) (+13.7% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, declining by -18.9% against the previous year. Over the period under review, the import price saw a drastic downturn. The pace of growth appeared the most rapid in 2015 when the import price increased by 48% 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 China ($X per ton), while Macao SAR ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+5.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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