South-Eastern Asia: Chromates Market 2024

Chromates Market Size in South-Eastern Asia

The Southeast Asian chromates market skyrocketed to $X in 2022, with an increase of 31% against the previous year. Overall, consumption recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Chromates Production in South-Eastern Asia

In value terms, chromates production expanded remarkably to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.4% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2015 when the production volume increased by 38%. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Chromates Exports

Exports in South-Eastern Asia

Chromates exports shrank rapidly to X tons in 2022, falling by -20.8% on the year before. Overall, exports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2014 when exports increased by 224% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, chromates exports declined rapidly to $X in 2022. Over the period under review, exports continue to indicate a pronounced descent. The pace of growth appeared the most rapid in 2014 when exports increased by 267% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, Malaysia (X tons) represented the key exporter of chromates, dichromates and peroxochromates, constituting 65% of total exports. It was distantly followed by Singapore (X tons) and Indonesia (X tons), together generating a 32% share of total exports. Thailand (X tons) took a little share of total exports.

Exports from Malaysia decreased at an average annual rate of -2.2% from 2012 to 2022. At the same time, Indonesia (+10.5%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +10.5% from 2012-2022. By contrast, Singapore (-11.8%) and Thailand (-15.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Malaysia and Indonesia increased by +19 and +11 percentage points, respectively.

In value terms, the largest chromates supplying countries in South-Eastern Asia were Singapore ($X), Malaysia ($X) and Indonesia ($X), with a combined 96% share of total exports.

Malaysia, with a CAGR of -1.9%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, waning by -15% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the export price increased by 39% against the previous year. The level of export peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+6.7%), while the other leaders experienced more modest paces of growth.

Chromates Imports

Imports in South-Eastern Asia

For the third year in a row, South-Eastern Asia recorded growth in supplies from abroad of chromates, dichromates and peroxochromates, which increased by 46% to X tons in 2022. Overall, imports continue to indicate a perceptible increase. The pace of growth was the most pronounced in 2020 with an increase of 53%. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, chromates imports skyrocketed to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 38% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Thailand represented the largest importing country with an import of about X tons, which finished at 73% of total imports. Indonesia (X tons) held the second position in the ranking, followed by Vietnam (X tons) and Malaysia (X tons). All these countries together took approx. 24% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to chromates imports into Thailand stood at +3.7%. At the same time, Vietnam (+6.0%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +6.0% from 2012-2022. Indonesia experienced a relatively flat trend pattern. By contrast, Malaysia (-1.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Thailand and Vietnam increased by +11 and +2.3 percentage points, respectively.

In value terms, Thailand ($X) constitutes the largest market for imported chromates, dichromates and peroxochromates in South-Eastern Asia, comprising 54% of total imports. The second position in the ranking was held by Indonesia ($X), with a 17% share of total imports. It was followed by Vietnam, with a 13% share.

In Thailand, chromates imports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Indonesia (+2.9% per year) and Vietnam (+4.2% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2022, which is down by -6% against the previous year. Overall, the import price showed a noticeable descent. The most prominent rate of growth was recorded in 2019 an increase of 25% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the import prices remained at a lower figure.

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 Vietnam ($X per ton), while Thailand ($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 (+2.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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