Eastern Asia: Market for Caustic Soda in the Solid Form 2024

Exports of Caustic Soda in the Solid Form

Exports in Eastern Asia

For the third year in a row, Eastern Asia recorded decline in overseas shipments of caustic soda in the solid form, which decreased by -29.2% to X tons in 2021. Over the period under review, exports saw a pronounced contraction. The most prominent rate of growth was recorded in 2013 when exports increased by 46% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports of failed to regain momentum.

In value terms, exports of caustic soda in the solid form declined rapidly to $X in 2021. In general, exports saw a abrupt setback. The most prominent rate of growth was recorded in 2013 with an increase of 30%. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

China represented the main exporter of caustic soda in the solid form in Eastern Asia, with the volume of exports recording X tons, which was near 85% of total exports in 2021. It was distantly followed by Taiwan (Chinese) (X tons), committing a 12% share of total exports. Japan (X tons) followed a long way behind the leaders.

Exports from China decreased at an average annual rate of -2.8% from 2012 to 2021. At the same time, Japan (+5.6%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +5.6% from 2012-2021. By contrast, Taiwan (Chinese) (-4.0%) illustrated a downward trend over the same period. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest caustic soda in the solid form supplier in Eastern Asia, comprising 79% of total exports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 16% share of total exports.

In China, exports of caustic soda in the solid form decreased by an average annual rate of -6.6% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Taiwan (Chinese) (-5.1% per year) and Japan (+2.4% per year).

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, rising by 8.4% against the previous year. Overall, the export price, however, showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2017 when the export price increased by 24% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

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 ($X per ton), while China ($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) (-1.1%), while the other leaders experienced a decline in the export price figures.

Imports of Caustic Soda in the Solid Form

Imports in Eastern Asia

In 2021, the amount of caustic soda in the solid form imported in Eastern Asia skyrocketed to X tons, rising by 15% against 2020. Overall, imports saw a relatively flat trend pattern. Over the period under review, imports of caustic soda in solid form reached the peak figure at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of caustic soda in the solid form surged to $X in 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when imports increased by 25% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports of failed to regain momentum.

Imports by Country

In 2021, South Korea (X tons) was the key importer of caustic soda in the solid form, committing 41% of total imports. China (X tons) took a 21% share (based on physical terms) of total imports, which put it in second place, followed by Japan (18%), Democratic People's Republic of Korea (7.7%) and Hong Kong SAR (7.6%). Taiwan (Chinese) (X tons) followed a long way behind the leaders.

South Korea was also the fastest-growing in terms of the caustic soda in the solid form imports, with a CAGR of +6.1% from 2012 to 2021. At the same time, Taiwan (Chinese) (+3.7%) and Hong Kong SAR (+1.4%) displayed positive paces of growth. China and Democratic People's Republic of Korea experienced a relatively flat trend pattern. By contrast, Japan (-6.2%) illustrated a downward trend over the same period. While the share of South Korea (+16 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Japan (-15.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), South Korea ($X) and Japan ($X) constituted the countries with the highest levels of imports in 2021, together comprising 81% of total imports.

In terms of the main importing countries, China, with a CAGR of +2.9%, recorded 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

In 2021, the import price in Eastern Asia amounted to $X per ton, approximately reflecting the previous year. Over the period under review, the import price, however, saw a mild contraction. The growth pace was the most rapid in 2017 when the import price increased by 23% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while South Korea ($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 (+2.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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