Eastern Asia: Caustic Soda Market 2024

Caustic Soda Market Size in Eastern Asia

The East Asian caustic soda market was finally on the rise to reach $X in 2021, after two years of decline. The total consumption indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -24.4% against 2018 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Caustic Soda Production in Eastern Asia

In value terms, caustic soda production rose markedly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 40% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Caustic Soda Exports

Exports in Eastern Asia

In 2021, shipments abroad of caustic soda increased by 7.7% to X tons, rising for the third year in a row after two years of decline. The total export volume increased at an average annual rate of +2.9% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when exports increased by 13% against the previous year. The volume of export peaked in 2021 and is likely to continue growth in the immediate term.

In value terms, caustic soda exports surged to $X in 2021. In general, exports, however, recorded a mild decrease. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Japan (X tons), Taiwan (Chinese) (X tons) and China (X tons) represented roughly 91% of total exports in 2021. It was distantly followed by South Korea (X tons), generating an 8.8% share of total exports.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +12.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest caustic soda supplying countries in Eastern Asia were China ($X), Japan ($X) and Taiwan (Chinese) ($X), with a combined 86% share of total exports. These countries were followed by South Korea, which accounted for a further 14%.

Among the main exporting countries, South Korea, with a CAGR of +12.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, rising by 27% against the previous year. Overall, the export price, however, recorded a perceptible downturn. The most prominent rate of growth was recorded in 2017 when the export price increased by 43% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while Taiwan (Chinese) ($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 (+0.4%), while the other leaders experienced a decline in the export price figures.

Caustic Soda Imports

Imports in Eastern Asia

In 2021, the amount of caustic soda imported in Eastern Asia soared to X tons, jumping by 17% compared with 2020. Total imports indicated a tangible increase from 2012 to 2021: its volume increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +78.4% against 2015 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 24%. Over the period under review, imports reached the peak figure in 2021 and are likely to see steady growth in the immediate term.

In value terms, caustic soda imports soared to $X in 2021. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 26%. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Taiwan (Chinese) was the key importing country with an import of around X tons, which resulted at 59% of total imports. China (X tons) took a 19% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (13%) and Japan (4.7%). Hong Kong SAR (X tons) took a minor share of total imports.

Imports into Taiwan (Chinese) increased at an average annual rate of +8.0% from 2012 to 2021. At the same time, China (+19.1%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +19.1% from 2012-2021. By contrast, Hong Kong SAR (-2.7%), South Korea (-6.7%) and Japan (-9.5%) illustrated a downward trend over the same period. While the share of Taiwan (Chinese) (+19 p.p.) and China (+14 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Hong Kong SAR (-2 p.p.), Japan (-10.9 p.p.) and South Korea (-19.6 p.p.) displayed negative dynamics.

In value terms, the largest caustic soda importing markets in Eastern Asia were Taiwan (Chinese) ($X), China ($X) and South Korea ($X), with a combined 86% share of total imports.

Among the main importing countries, China, with a CAGR of +8.7%, recorded 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

In 2021, the import price in Eastern Asia amounted to $X per ton, growing by 2.9% against the previous year. In general, the import price, however, recorded a perceptible descent. The most prominent rate of growth was recorded in 2018 when the import price increased by 21%. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while Taiwan (Chinese) ($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 (+3.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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