Malaysia: Lithium Battery Market 2024

Lithium Battery Market Size in Malaysia

The Malaysian lithium battery market soared to $X in 2021, rising by 23% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a pronounced expansion. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Lithium Battery Exports

Exports from Malaysia

After five years of growth, overseas shipments of lithium cells ans batteries decreased by -28.8% to X tons in 2021. In general, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 176% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2020, and then fell sharply in the following year.

In value terms, lithium battery exports contracted significantly to $X in 2021. Overall, exports, however, recorded a strong increase. The pace of growth was the most pronounced in 2013 when exports increased by 172%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Singapore (X tons) was the main destination for lithium battery exports from Malaysia, accounting for a 47% share of total exports. Moreover, lithium battery exports to Singapore exceeded the volume sent to the second major destination, Hungary (X tons), twofold. The third position in this ranking was taken by the United States (X tons), with a 14% share.

From 2012 to 2021, the average annual growth rate of volume to Singapore stood at +25.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (+263.4% per year) and the United States (+11.7% per year).

In value terms, Singapore ($X) emerged as the key foreign market for lithium cells ans batteries exports from Malaysia, comprising 47% of total exports. The second position in the ranking was held by Hungary ($X), with a 19% share of total exports. It was followed by the United States, with a 14% share.

From 2012 to 2021, the average annual growth rate of value to Singapore stood at +21.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (+253.3% per year) and the United States (+8.8% per year).

Export Prices by Country

In 2021, the average lithium battery export price amounted to $X per ton, surging by 14% against the previous year. Over the period under review, the export price, however, showed a perceptible setback. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2021, the countries with the highest prices were Vietnam ($X per ton) and Belgium ($X per ton), while the average price for exports to Mexico ($X per ton) and Singapore ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (-2.6%), while the prices for the other major destinations experienced a decline.

Lithium Battery Imports

Imports into Malaysia

Lithium battery imports into Malaysia expanded remarkably to X tons in 2021, with an increase of 7.5% compared with 2020 figures. In general, imports continue to indicate a buoyant increase. The pace of growth was the most pronounced in 2019 with an increase of 138%. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, lithium battery imports stood at $X in 2021. Over the period under review, imports enjoyed a pronounced expansion. The pace of growth was the most pronounced in 2019 with an increase of 68% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Singapore (X tons), China (X tons) and the United States (X tons) were the main suppliers of lithium battery imports to Malaysia, together comprising 77% of total imports. These countries were followed by South Korea, Vietnam, Japan, Indonesia and Hong Kong SAR, which together accounted for a further 19%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +110.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest lithium battery suppliers to Malaysia were Singapore ($X), China ($X) and the United States ($X), together comprising 77% of total imports. These countries were followed by South Korea, Vietnam, Japan, Indonesia and Hong Kong SAR, which together accounted for a further 19%.

Vietnam, with a CAGR of +96.7%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average lithium battery import price stood at $X per ton in 2021, dropping by -3% against the previous year. Over the period under review, the import price continues to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2018 when the average import price increased by 13% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, the highest price was recorded for prices from Vietnam ($X per ton) and Japan ($X per ton), while the price for Singapore ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (-5.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform