Myanmar: Carbonate Market 2024

Carbonate Market Size in Myanmar

The Myanmar's carbonate market declined to $X in 2021, shrinking by -6.3% against the previous year. Overall, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Carbonate Production in Myanmar

In value terms, carbonate production fell to $X in 2021 estimated in export price. In general, production, however, continues to indicate a mild downturn. The growth pace was the most rapid in 2017 when the production volume increased by 46% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Carbonate Exports

Exports from Myanmar

In 2021, overseas shipments of carbonates and peroxocarbonates were finally on the rise to reach X tons after four years of decline. Over the period under review, exports, however, recorded a abrupt curtailment. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, carbonate exports surged to $X in 2021. Overall, exports enjoyed a pronounced expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons) was the main destination for carbonate exports from Myanmar, accounting for a 81% share of total exports. Moreover, carbonate exports to China exceeded the volume sent to the second major destination, India (X tons), sixfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to China totaled +22.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-25.9% per year) and Vietnam (0.0% per year).

In value terms, China ($X) remains the key foreign market for carbonates and peroxocarbonates exports from Myanmar, comprising 79% of total exports. The second position in the ranking was held by Vietnam ($X), with an 11% share of total exports.

From 2012 to 2021, the average annual growth rate of value to China stood at +31.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (0.0% per year) and India (-22.1% per year).

Export Prices by Country

In 2021, the average carbonate export price amounted to $X per ton, with an increase of 29% against the previous year. Overall, the export price enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2017 when the average export price increased by 29% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to India ($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 (+7.3%).

Carbonate Imports

Imports into Myanmar

In 2021, purchases abroad of carbonates and peroxocarbonates decreased by -22.9% to X tons, falling for the second consecutive year after eight years of growth. In general, imports, however, saw a remarkable increase. The pace of growth was the most pronounced in 2013 when imports increased by 73%. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, carbonate imports contracted to $X in 2021. Over the period under review, total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +9.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -15.0% against 2019 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 77% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Vietnam (X tons), Malaysia (X tons) and China (X tons) were the main suppliers of carbonate imports to Myanmar, with a combined 67% share of total imports. Thailand, India, Turkey and Indonesia lagged somewhat behind, together comprising a further 22%.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +38.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest carbonate suppliers to Myanmar were Vietnam ($X), India ($X) and Malaysia ($X), together comprising 54% of total imports.

India, with a CAGR of +36.3%, recorded the highest rates of growth with regard to 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

In 2021, the average carbonate import price amounted to $X per ton, growing by 19% against the previous year. In general, the import price, however, continues to indicate a deep downturn. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 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 India ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+17.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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