Malaysia: Carbides Market 2024

Carbides Market Size in Malaysia

The Malaysian carbides market shrank to $X in 2022, reducing by -3% against the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. Carbides consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Carbides Production in Malaysia

In value terms, carbides production reduced to $X in 2022 estimated in export price. In general, production continues to indicate a mild descent. The most prominent rate of growth was recorded in 2016 when the production volume increased by 26%. Carbides production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Carbides Exports

Exports from Malaysia

For the third year in a row, Malaysia recorded decline in shipments abroad of carbides, which decreased by -73.7% to X tons in 2022. In general, exports continue to indicate a precipitous decrease. The most prominent rate of growth was recorded in 2017 when exports increased by 23%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, carbides exports fell dramatically to $X in 2022. Over the period under review, exports continue to indicate a dramatic contraction. The most prominent rate of growth was recorded in 2017 when exports increased by 19%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Singapore (X tons), Australia (X tons) and Indonesia (X tons) were the main destinations of carbides exports from Malaysia, with a combined 75% share of total exports. Italy, Taiwan (Chinese), Oman and Bangladesh lagged somewhat behind, together accounting for a further 17%.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of -10.8%), while shipments for the other leaders experienced a decline.

In value terms, Singapore ($X), Australia ($X) and Indonesia ($X) constituted the largest markets for carbides exported from Malaysia worldwide, together accounting for 73% of total exports. Taiwan (Chinese), Oman, Bangladesh and Italy lagged somewhat behind, together accounting for a further 13%.

In terms of the main countries of destination, Taiwan (Chinese), with a CAGR of -5.2%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average carbides export price amounted to $X per ton, growing by 51% against the previous year. Over the period under review, the export price showed a strong expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bangladesh (+10.9%), while the prices for the other major destinations experienced more modest paces of growth.

Carbides Imports

Imports into Malaysia

In 2022, approx. X tons of carbides were imported into Malaysia; increasing by 13% on the year before. Over the period under review, imports recorded a prominent increase. The most prominent rate of growth was recorded in 2018 with an increase of 143%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, carbides imports stood at $X in 2022. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 56%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X tons) constituted the largest carbides supplier to Malaysia, accounting for a 81% share of total imports. Moreover, carbides imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), eightfold. Japan (X tons) ranked third in terms of total imports with a 4.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +17.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+18.2% per year) and Japan (+11.9% per year).

In value terms, China ($X) constituted the largest supplier of carbides to Malaysia, comprising 69% of total imports. The second position in the ranking was taken by Japan ($X), with a 15% share of total imports. It was followed by Vietnam, with a 3.7% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +14.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+1.1% per year) and Vietnam (+12.1% per year).

Import Prices by Country

In 2022, the average carbides import price amounted to $X per ton, which is down by -6% against the previous year. In general, the import price showed a abrupt setback. The most prominent rate of growth was recorded in 2021 when the average import price increased by 40% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-2.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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