Eastern Asia: Sodium Carbonate Market 2024

Sodium Carbonate Market Size in Eastern Asia

The East Asian sodium carbonate market shrank to $X in 2022, with a decrease of -7.1% against the previous year. In general, consumption continues to indicate a slight shrinkage. The most prominent rate of growth was recorded in 2021 when the market value increased by 7.5% against the previous year. The level of consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Sodium Carbonate Production in Eastern Asia

In value terms, sodium carbonate production shrank slightly to $X in 2022 estimated in export price. In general, production recorded a slight downturn. The pace of growth was the most pronounced in 2021 with an increase of 6.9% against the previous year. The level of production peaked at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Sodium Carbonate Exports

Exports in Eastern Asia

In 2022, shipments abroad of sodium carbonate increased by 185% to X tons for the first time since 2019, thus ending a two-year declining trend. Total exports indicated a moderate increase from 2012 to 2022: its volume increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The volume of export peaked at X tons in 2015; afterwards, it flattened through to 2022.

In value terms, sodium carbonate exports skyrocketed to $X in 2022. Over the period under review, exports continue to indicate strong growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons) represented roughly 100% of total exports in 2022.

China was also the fastest-growing in terms of the sodium carbonate exports, with a CAGR of +2.5% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest sodium carbonate supplier in Eastern Asia.

In China, sodium carbonate exports expanded at an average annual rate of +8.0% over the period from 2012-2022.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, rising by 42% against the previous year. Export price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sodium carbonate export price increased by +97.3% against 2020 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +5.3% per year.

Sodium Carbonate Imports

Imports in Eastern Asia

In 2022, supplies from abroad of sodium carbonate was finally on the rise to reach X tons after three years of decline. The total import volume increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2018 when imports increased by 16%. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, sodium carbonate imports soared to $X in 2022. The total import value increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

South Korea represented the largest importing country with an import of around X tons, which finished at 52% of total imports. Japan (X tons) held the second position in the ranking, followed by Taiwan (Chinese) (X tons) and China (X tons). All these countries together held near 46% share of total imports. Democratic People's Republic of Korea (X tons) followed a long way behind the leaders.

Imports into South Korea increased at an average annual rate of +3.2% from 2012 to 2022. At the same time, China (+13.9%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +13.9% from 2012-2022. By contrast, Taiwan (Chinese) (-1.5%), Democratic People's Republic of Korea (-2.2%) and Japan (-2.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of South Korea and China increased by +8.9 and +6.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest sodium carbonate importing markets in Eastern Asia were South Korea ($X), Japan ($X) and Taiwan (Chinese) ($X), with a combined 87% share of total imports. China and Democratic People's Republic of Korea lagged somewhat behind, together comprising a further 12%.

China, with a CAGR of +22.2%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, growing by 12% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by 13%. The level of import peaked in 2022 and is likely to see gradual growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Japan ($X per ton) and China ($X per ton), while Taiwan (Chinese) ($X per ton) and Democratic People's Republic of Korea ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :