South-Eastern Asia: Carbides Market 2024

Carbides Market Size in South-Eastern Asia

The Southeast Asian carbides market fell to $X in 2022, which is down by -3.9% against the previous year. In general, consumption continues to indicate a abrupt curtailment. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Carbides Production in South-Eastern Asia

In value terms, carbides production dropped slightly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a abrupt descent. The growth pace was the most rapid in 2021 when the production volume increased by 10%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Carbides Exports

Exports in South-Eastern Asia

In 2022, shipments abroad of carbides increased by 2% to X tons, rising for the second year in a row after two years of decline. Total exports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +8.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +25.5% against 2020 indices. The growth pace was the most rapid in 2014 when exports increased by 57% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the immediate term.

In value terms, carbides exports surged to $X in 2022. In general, exports continue to indicate a resilient increase. The pace of growth was the most pronounced in 2018 when exports increased by 48% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

Vietnam prevails in exports structure, resulting at X tons, which was near 88% of total exports in 2022. It was distantly followed by Indonesia (X tons), committing an 8% share of total exports. Singapore (X tons) held a minor share of total exports.

Vietnam was also the fastest-growing in terms of the carbides exports, with a CAGR of +36.1% from 2012 to 2022. At the same time, Indonesia (+23.3%) displayed positive paces of growth. By contrast, Singapore (-10.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Vietnam and Indonesia increased by +80 and +5.8 percentage points, respectively.

In value terms, Vietnam ($X) remains the largest carbides supplier in South-Eastern Asia, comprising 91% of total exports. The second position in the ranking was held by Indonesia ($X), with a 6.8% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Vietnam stood at +32.3%. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (+27.9% per year) and Singapore (-15.8% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, with an increase of 40% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.7%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+3.8%), while the other leaders experienced a decline in the export price figures.

Carbides Imports

Imports in South-Eastern Asia

In 2022, supplies from abroad of carbides increased by 2.5% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, imports, however, continue to indicate a mild slump. The most prominent rate of growth was recorded in 2021 when imports increased by 14% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, carbides imports rose modestly to $X in 2022. In general, imports, however, showed a mild curtailment. The growth pace was the most rapid in 2021 with an increase of 48% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Thailand (X tons), the Philippines (X tons), Singapore (X tons), Malaysia (X tons), Vietnam (X tons) and Indonesia (X tons) represented roughly 98% of total imports in 2022.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Malaysia (with a CAGR of +10.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Singapore ($X) and Malaysia ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 69% share of total imports.

Thailand, with a CAGR of +5.0%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2022, rising by 2% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by 29% against the previous year. The level of import peaked at $X per ton in 2012; afterwards, it flattened through to 2022.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+4.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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