Eastern Asia: Sodium Phosphates Market 2024

Sodium Phosphates Market Size in Eastern Asia

The East Asian sodium phosphates market contracted markedly to $X in 2021, waning by -46.6% against the previous year. Over the period under review, consumption recorded a abrupt setback. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Sodium Phosphates Production in Eastern Asia

In value terms, sodium phosphates production shrank to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the production volume increased by 47% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Sodium Phosphates Exports

Exports in Eastern Asia

In 2021, shipments abroad of phosphates of mono- or di-sodium was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Total exports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +7.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the exports reached the maximum at X tons in 2018; afterwards, it flattened through to 2021.

In value terms, sodium phosphates exports soared to $X in 2021. Total exports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +8.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China dominates exports structure, resulting at X tons, which was near 96% of total exports in 2021. The following exporters - Japan (X tons) and Taiwan (Chinese) (X tons) - each amounted to a 3.4% share of total exports.

China was also the fastest-growing in terms of the phosphates of mono- or di-sodium exports, with a CAGR of +7.7% from 2012 to 2021. Taiwan (Chinese) experienced a relatively flat trend pattern. Japan (-4.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China increased by +4.6 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest sodium phosphates supplier in Eastern Asia, comprising 91% of total exports. The second position in the ranking was held by Japan ($X), with a 7.6% share of total exports.

From 2012 to 2021, the average annual growth rate of value in China stood at +10.0%. In the other countries, the average annual rates were as follows: Japan (+1.7% per year) and Taiwan (Chinese) (-3.6% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, rising by 9.9% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.6%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, 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 Japan (+6.2%), while the other leaders experienced mixed trends in the export price figures.

Sodium Phosphates Imports

Imports in Eastern Asia

In 2021, supplies from abroad of phosphates of mono- or di-sodium increased by 1.9% to X tons, rising for the second year in a row after two years of decline. Overall, imports showed a prominent increase. The pace of growth appeared the most rapid in 2017 with an increase of 131% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, sodium phosphates imports soared to $X in 2021. In general, imports posted a resilient increase. The most prominent rate of growth was recorded in 2014 with an increase of 69%. The level of import peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

South Korea represented the key importing country with an import of around X tons, which amounted to 62% of total imports. Taiwan (Chinese) (X tons) took a 15% share (based on physical terms) of total imports, which put it in second place, followed by Japan (14%) and China (7.3%).

South Korea was also the fastest-growing in terms of the phosphates of mono- or di-sodium imports, with a CAGR of +24.6% from 2012 to 2021. At the same time, China (+11.6%) and Taiwan (Chinese) (+7.0%) displayed positive paces of growth. Japan experienced a relatively flat trend pattern. While the share of South Korea (+38 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Taiwan (Chinese) (-8.2 p.p.) and Japan (-28.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest sodium phosphates importing markets in Eastern Asia were South Korea ($X), China ($X) and Taiwan (Chinese) ($X), together comprising 88% of total imports.

In terms of the main importing countries, South Korea, with a CAGR of +21.6%, saw the highest growth rate of 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

The import price in Eastern Asia stood at $X per ton in 2021, surging by 17% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the import price increased by 35% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2021, the import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+2.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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