Malaysia: Silicates Market 2024

Silicates Market Size in Malaysia

The Malaysian silicates market plummeted to $X in 2021, falling by -20.4% against the previous year. Overall, consumption continues to indicate a perceptible setback. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Silicates Production in Malaysia

In value terms, silicates production declined markedly to $X in 2021 estimated in export price. Overall, production saw a deep contraction. The most prominent rate of growth was recorded in 2020 when the production volume increased by 134% against the previous year. Silicates production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Silicates Exports

Exports from Malaysia

In 2021, overseas shipments of silicates, commercial alkali metal silicates increased by 57% to X tons, rising for the third consecutive year after two years of decline. Over the period under review, total exports indicated prominent growth from 2012 to 2021: its volume increased at an average annual rate of +8.0% 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 +106.0% against 2018 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, silicates exports expanded sharply to $X in 2021. In general, exports showed tangible growth. The pace of growth was the most pronounced in 2020 when exports increased by 118%. The exports peaked in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

Singapore (X tons) was the main destination for silicates exports from Malaysia, accounting for a 36% share of total exports. Moreover, silicates exports to Singapore exceeded the volume sent to the second major destination, Indonesia (X tons), threefold. The third position in this ranking was held by India (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Singapore was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+25.7% per year) and India (+128.6% per year).

In value terms, Singapore ($X), Indonesia ($X) and Thailand ($X) appeared to be the largest markets for silicates exported from Malaysia worldwide, together accounting for 42% of total exports. These countries were followed by Australia, India, Taiwan (Chinese), China and Pakistan, which together accounted for a further 27%.

In terms of the main countries of destination, Pakistan, with a CAGR of +108.9%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average silicates export price stood at $X per ton in 2021, declining by -27% against the previous year. Over the period under review, the export price showed a abrupt contraction. The most prominent rate of growth was recorded in 2018 when the average export price increased by 78%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Singapore ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+0.2%), while the prices for the other major destinations experienced a decline.

Silicates Imports

Imports into Malaysia

In 2021, approx. X tons of silicates, commercial alkali metal silicates were imported into Malaysia; with an increase of 45% compared with the previous year. Over the period under review, imports continue to indicate resilient growth. The pace of growth was the most pronounced in 2013 with an increase of 232%. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in the near future.

In value terms, silicates imports surged to $X in 2021. In general, total imports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +11.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 93% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the near future.

Imports by Country

Indonesia (X tons), South Korea (X tons) and China (X tons) were the main suppliers of silicates imports to Malaysia, with a combined 94% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +65.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), China ($X) and South Korea ($X) constituted the largest silicates suppliers to Malaysia, together accounting for 71% of total imports.

Indonesia, with a CAGR of +64.8%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average silicates import price amounted to $X per ton, surging by 14% against the previous year. Overall, the import price, however, showed a deep slump. The pace of growth was the most pronounced in 2018 when the average import price increased by 20%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, 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 Taiwan (Chinese) ($X per ton), while the price for South Korea ($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 (+4.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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