South-Eastern Asia: Carbonate Market 2024

Carbonate Market Size in South-Eastern Asia

After two years of decline, the Southeast Asian carbonate market increased by 9.8% to $X in 2021. In general, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Carbonate Production in South-Eastern Asia

In value terms, carbonate production amounted to $X in 2021 estimated in export price. Over the period under review, production, however, saw a perceptible downturn. The most prominent rate of growth was recorded in 2018 with an increase of 17%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Carbonate Exports

Exports in South-Eastern Asia

In 2021, overseas shipments of carbonates and peroxocarbonates decreased by -2.5% to X tons, falling for the third consecutive year after seven years of growth. Total exports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +8.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -18.9% against 2018 indices. The growth pace was the most rapid in 2013 when exports increased by 45% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, carbonate exports skyrocketed to $X in 2021. Total exports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +7.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 22% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Vietnam (X tons) was the largest exporter of carbonates and peroxocarbonates, creating 55% of total exports. Malaysia (X tons) ranks second in terms of the total exports with a 24% share, followed by Thailand (14%) and Singapore (4.7%). Indonesia (X tons) took a relatively small share of total exports.

Exports from Vietnam increased at an average annual rate of +19.4% from 2012 to 2021. At the same time, Singapore (+24.0%) and Thailand (+6.5%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +24.0% from 2012-2021. Malaysia experienced a relatively flat trend pattern. By contrast, Indonesia (-6.6%) illustrated a downward trend over the same period. Vietnam (+32 p.p.) and Singapore (+3.3 p.p.) significantly strengthened its position in terms of the total exports, while Thailand, Indonesia and Malaysia saw its share reduced by -2.5%, -7.6% and -25.2% from 2012 to 2021, respectively.

In value terms, Vietnam ($X) remains the largest carbonate supplier in South-Eastern Asia, comprising 44% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 20% share of total exports. It was followed by Thailand, with a 17% share.

In Vietnam, carbonate exports expanded at an average annual rate of +16.0% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (-1.1% per year) and Thailand (+4.9% per year).

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per ton, with an increase of 20% against the previous year. Over the period under review, the export price, however, showed a slight downturn. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+5.0%), while the other leaders experienced a decline in the export price figures.

Carbonate Imports

Imports in South-Eastern Asia

In 2021, imports of carbonates and peroxocarbonates in South-Eastern Asia expanded notably to X tons, increasing by 6.2% compared with 2020 figures. The total import volume increased at an average annual rate of +3.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when imports increased by 15% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, carbonate imports rose notably to $X in 2021. Total imports indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -6.1% against 2019 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 23% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the four major importers of carbonates and peroxocarbonates, namely Indonesia, Thailand, Vietnam and Malaysia, represented more than two-thirds of total import. It was distantly followed by the Philippines (X tons), achieving a 7.5% share of total imports. The following importers - Myanmar (X tons) and Singapore (X tons) - each amounted to a 3.7% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Myanmar (with a CAGR of +15.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest carbonate importing markets in South-Eastern Asia were Indonesia ($X), Thailand ($X) and Vietnam ($X), together comprising 71% of total imports. These countries were followed by Malaysia, the Philippines, Singapore and Myanmar, which together accounted for a further 28%.

Among the main importing countries, Malaysia, with a CAGR of +11.2%, saw the highest rates of growth with regard to the value of imports, 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 2021, picking up by 5.7% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the import price increased by 11%. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Singapore ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+1.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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