Malaysia: Ferro-Silicon Market 2024

Ferro-Silicon Market Size in Malaysia

The Malaysian ferro-silicon market shrank remarkably to $X in 2022, dropping by -50.7% against the previous year. In general, consumption, however, recorded a significant expansion. As a result, consumption attained the peak level of $X, and then declined sharply in the following year.

Ferro-Silicon Production in Malaysia

In value terms, ferro-silicon production shrank to $X in 2022 estimated in export price. Over the period under review, production, however, recorded strong growth. The most prominent rate of growth was recorded in 2016 when the production volume increased by 83%. Ferro-silicon production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Ferro-Silicon Exports

Exports from Malaysia

In 2022, overseas shipments of ferro-silicon were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports continue to indicate significant growth. The pace of growth was the most pronounced in 2015 when exports increased by 6,631%. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, ferro-silicon exports declined to $X in 2022. Over the period under review, exports saw a significant expansion. The pace of growth was the most pronounced in 2015 when exports increased by 5,491% against the previous year. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Japan (X tons) was the main destination for ferro-silicon exports from Malaysia, accounting for a 35% share of total exports. Moreover, ferro-silicon exports to Japan exceeded the volume sent to the second major destination, South Korea (X tons), threefold. Vietnam (X tons) ranked third in terms of total exports with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan totaled +168.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (+234.6% per year) and Vietnam (+100.2% per year).

In value terms, Japan ($X) emerged as the key foreign market for ferro-silicon exports from Malaysia, comprising 37% of total exports. The second position in the ranking was taken by the United States ($X), with a 17% share of total exports. It was followed by Vietnam, with a 6.2% share.

From 2012 to 2022, the average annual growth rate of value to Japan amounted to +192.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+133.8% per year) and Vietnam (+96.5% per year).

Export Prices by Country

The average ferro-silicon export price stood at $X per ton in 2022, falling by -23.8% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average export price increased by 70%. As a result, the export price attained the peak level of $X per ton, and then contracted sharply in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to South Korea ($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 the United States (+12.1%), while the prices for the other major destinations experienced more modest paces of growth.

Ferro-Silicon Imports

Imports into Malaysia

In 2022, supplies from abroad of ferro-silicon decreased by -21.8% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports, however, posted a strong increase. The pace of growth was the most pronounced in 2021 when imports increased by 77% against the previous year. As a result, imports reached the peak of X tons, and then contracted remarkably in the following year.

In value terms, ferro-silicon imports reduced remarkably to $X in 2022. In general, imports, however, showed buoyant growth. The most prominent rate of growth was recorded in 2021 with an increase of 191% against the previous year. As a result, imports attained the peak of $X, and then shrank significantly in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of ferro-silicon to Malaysia, with a 64% share of total imports. Moreover, ferro-silicon imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), sevenfold. Russia (X tons) ranked third in terms of total imports with a 5.5% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +28.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (-0.6% per year) and Russia (+39.3% per year).

In value terms, China ($X) constituted the largest supplier of ferro-silicon to Malaysia, comprising 62% of total imports. The second position in the ranking was held by Vietnam ($X), with a 7% share of total imports. It was followed by South Korea, with a 4.3% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +25.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (-4.0% per year) and South Korea (+51.7% per year).

Import Prices by Country

In 2022, the average ferro-silicon import price amounted to $X per ton, with a decrease of -14.1% against the previous year. Overall, the import price recorded a perceptible decrease. The growth pace was the most rapid in 2021 an increase of 64% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+2.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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