Eastern Asia: Market for Scouring Pastes And Powders 2024

Market Size for Scouring Pastes And Powders in Eastern Asia

The East Asian scouring pastes and powders market fell to $X in 2021, which is down by -8.9% against the previous year. The market value increased at an average annual rate of +1.5% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. Over the period under review, the market reached the peak level at $X in 2020, and then shrank in the following year.

Production of Scouring Pastes And Powders in Eastern Asia

In value terms, scouring pastes and powders production contracted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 16% against the previous year. Over the period under review, production reached the peak level at $X in 2020, and then shrank in the following year.

Exports of Scouring Pastes And Powders

Exports in Eastern Asia

In 2021, shipments abroad of scouring pastes and powders increased by 14% to X tons, rising for the sixth consecutive year after three years of decline. Total exports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +87.3% against 2015 indices. The pace of growth was the most pronounced in 2020 when exports increased by 20%. The volume of export peaked in 2021 and is likely to see gradual growth in the near future.

In value terms, scouring pastes and powders exports soared to $X in 2021. Over the period under review, exports recorded buoyant growth. The pace of growth was the most pronounced in 2020 with an increase of 24% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Japan represented the key exporter of scouring pastes and powders in Eastern Asia, with the volume of exports recording X tons, which was near 82% of total exports in 2021. It was distantly followed by South Korea (X tons), achieving a 14% share of total exports. China (X tons) held a minor share of total exports.

Exports from Japan increased at an average annual rate of +6.0% from 2012 to 2021. At the same time, South Korea (+18.2%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +18.2% from 2012-2021. By contrast, China (-5.4%) illustrated a downward trend over the same period. South Korea (+8.7 p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by -6.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) remains the largest scouring pastes and powders supplier in Eastern Asia, comprising 86% of total exports. The second position in the ranking was held by South Korea ($X), with a 12% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Japan amounted to +7.3%. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (+19.9% per year) and China (-3.6% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, picking up by 3.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.6%. The most prominent rate of growth was recorded in 2018 when the export price increased by 5.8%. The level of export peaked in 2021 and is expected to retain 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 China (+1.9%), while the other leaders experienced more modest paces of growth.

Imports of Scouring Pastes And Powders

Imports in Eastern Asia

In 2021, scouring pastes and powders imports in Eastern Asia shrank modestly to X tons, waning by -3.8% on 2020. In general, imports saw a slight curtailment. The pace of growth appeared the most rapid in 2016 when imports increased by 46%. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, scouring pastes and powders imports skyrocketed to $X in 2021. Overall, imports continue to indicate a pronounced descent. The pace of growth was the most pronounced in 2017 when imports increased by 23% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, South Korea (X tons) represented the key importer of scouring pastes and powders, comprising 79% of total imports. It was distantly followed by Japan (X tons), committing a 15% share of total imports. The following importers - Hong Kong SAR (X tons) and China (X tons) - each amounted to a 4.6% share of total imports.

Imports into South Korea decreased at an average annual rate of -1.9% from 2012 to 2021. At the same time, Japan (+2.6%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +2.6% from 2012-2021. China experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (-4.9%) illustrated a downward trend over the same period. Japan (+4.6 p.p.) significantly strengthened its position in terms of the total imports, while South Korea saw its share reduced by -4.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X) constitutes the largest market for imported scouring pastes and powders in Eastern Asia, comprising 77% of total imports. The second position in the ranking was taken by Japan ($X), with an 18% share of total imports. It was followed by China, with a 3.4% share.

From 2012 to 2021, the average annual growth rate of value in South Korea totaled -3.6%. In the other countries, the average annual rates were as follows: Japan (-3.4% per year) and China (-3.7% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, rising by 22% against the previous year. In general, the import price, however, recorded a perceptible curtailment. Over the period under review, import prices attained the maximum at $X per ton in 2015; however, from 2016 to 2021, 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 ($X per ton), while Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+0.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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