Eastern Asia: Carbonate Market 2024

Carbonate Market Size in Eastern Asia

In 2021, the East Asian carbonate market increased by 9.2% to $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Carbonate Production in Eastern Asia

In value terms, carbonate production expanded sharply to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 15% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Carbonate Exports

Exports in Eastern Asia

After two years of growth, overseas shipments of carbonates and peroxocarbonates decreased by -27.5% to X tons in 2021. In general, exports continue to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2015 when exports increased by 13% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports failed to regain momentum.

In value terms, carbonate exports amounted to $X in 2021. The total export value increased at an average annual rate of +1.4% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2018 when exports increased by 17% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

China prevails in exports structure, resulting at X tons, which was near 86% of total exports in 2021. It was distantly followed by South Korea (X tons), committing a 6.7% share of total exports. Taiwan (Chinese) (X tons) and Japan (X tons) followed a long way behind the leaders.

Exports from China decreased at an average annual rate of -4.3% from 2012 to 2021. At the same time, South Korea (+4.8%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +4.8% from 2012-2021. Japan experienced a relatively flat trend pattern. By contrast, Taiwan (Chinese) (-3.1%) illustrated a downward trend over the same period. South Korea (+3.6 p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by -4.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest carbonate supplier in Eastern Asia, comprising 77% of total exports. The second position in the ranking was held by South Korea ($X), with an 11% share of total exports. It was followed by Japan, with a 5.8% share.

In China, carbonate exports increased at an average annual rate of +1.1% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (+4.7% per year) and Japan (-0.7% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, surging by 45% against the previous year. Export price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+6.5%), while the other leaders experienced more modest paces of growth.

Carbonate Imports

Imports in Eastern Asia

In 2021, overseas purchases of carbonates and peroxocarbonates decreased by -0.6% to X tons, falling for the third year in a row after four years of growth. The total import volume increased at an average annual rate of +2.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 when imports increased by 14%. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, carbonate imports surged to $X in 2021. In general, imports, however, showed a resilient expansion. The growth pace was the most rapid in 2016 with an increase of 40%. Over the period under review, imports attained the peak figure in 2021 and are likely to continue growth in the near future.

Imports by Country

In 2021, South Korea (X tons), distantly followed by China (X tons), Japan (X tons) and Taiwan (Chinese) (X tons) represented the main importers of carbonates and peroxocarbonates, together constituting 97% of total imports. Hong Kong SAR (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by China (with a CAGR of +20.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest carbonate importing markets in Eastern Asia were China ($X), South Korea ($X) and Japan ($X), with a combined 93% share of total imports.

In terms of the main importing countries, China, with a CAGR of +22.6%, saw 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 2021, the import price in Eastern Asia amounted to $X per ton, increasing by 36% against the previous year. Over the period under review, the import price recorded resilient growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+7.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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