South-Eastern Asia: Market for Carnallite, Sylvite and Other Crude Natural Potassium Salts, Potassium Magnesium Sulphate and Mixtures of Potassic Fertilisers 2024

Market Size for Carnallite, Sylvite and Other Crude Natural Potassium Salts, Potassium Magnesium Sulphate and Mixtures of Potassic Fertilisers in South-Eastern Asia

For the third year in a row, the Southeast Asian market for carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers recorded growth in sales value, which increased by 3.5% to $X in 2022. Over the period under review, consumption recorded a abrupt descent. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Production of Carnallite, Sylvite and Other Crude Natural Potassium Salts, Potassium Magnesium Sulphate and Mixtures of Potassic Fertilisers in South-Eastern Asia

In value terms, production of carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers totaled $X in 2022 estimated in export price. Overall, production saw a moderate expansion. The most prominent rate of growth was recorded in 2013 when the production volume increased by 334% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production of growth remained at a somewhat lower figure.

Exports of Carnallite, Sylvite and Other Crude Natural Potassium Salts, Potassium Magnesium Sulphate and Mixtures of Potassic Fertilisers

Exports in South-Eastern Asia

In 2022, after two years of growth, there was significant decline in overseas shipments of carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers, when their volume decreased by -12.7% to X tons. Over the period under review, exports, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2017 when exports increased by 337% against the previous year. Over the period under review, the exports of attained the peak figure at X tons in 2021, and then fell in the following year.

In value terms, exports of carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers declined to $X in 2022. Overall, exports continue to indicate a noticeable decline. The pace of growth appeared the most rapid in 2017 when exports increased by 222%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia was the main exporter of carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers in South-Eastern Asia, with the volume of exports accounting for X tons, which was approx. 59% of total exports in 2022. It was distantly followed by Vietnam (X tons), Indonesia (X tons) and Lao People's Democratic Republic (X tons), together mixing up a 38% share of total exports. Thailand (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers exports from Malaysia stood at +7.2%. At the same time, Lao People's Democratic Republic (+12.4%), Thailand (+9.1%), Indonesia (+4.0%) and Vietnam (+2.5%) displayed positive paces of growth. Moreover, Lao People's Democratic Republic emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +12.4% from 2012-2022. From 2012 to 2022, the share of Malaysia and Lao People's Democratic Republic increased by +6.3 and +3.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X) remains the largest carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers supplier in South-Eastern Asia, comprising 56% of total exports. The second position in the ranking was taken by Vietnam ($X), with an 18% share of total exports. It was followed by Indonesia, with a 14% share.

From 2012 to 2022, the average annual growth rate of value in Malaysia stood at -3.6%. In the other countries, the average annual rates were as follows: Vietnam (-5.2% per year) and Indonesia (-0.3% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, with a decrease of -2.2% against the previous year. Overall, the export price saw a abrupt decrease. The pace of growth was the most pronounced in 2016 when the export price increased by 12% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lao People's Democratic Republic (+3.2%), while the other leaders experienced a decline in the export price figures.

Imports of Carnallite, Sylvite and Other Crude Natural Potassium Salts, Potassium Magnesium Sulphate and Mixtures of Potassic Fertilisers

Imports in South-Eastern Asia

In 2022, after two years of growth, there was significant decline in purchases abroad of carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers, when their volume decreased by -16% to X tons. In general, imports saw a noticeable setback. The most prominent rate of growth was recorded in 2021 when imports increased by 100%. Over the period under review, imports of attained the maximum at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, imports of carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers reduced to $X in 2022. Overall, imports continue to indicate a abrupt curtailment. The growth pace was the most rapid in 2021 when imports increased by 93%. Over the period under review, imports of reached the maximum at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Malaysia (X tons) was the main importer of carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers, achieving 59% of total imports. Indonesia (X tons) held a 21% share (based on physical terms) of total imports, which put it in second place, followed by Vietnam (5.6%) and Cambodia (5.4%). Thailand (X tons) and Lao People's Democratic Republic (X tons) took a little share of total imports.

Imports into Malaysia decreased at an average annual rate of -6.3% from 2012 to 2022. At the same time, Lao People's Democratic Republic (+30.1%), Cambodia (+21.7%), Thailand (+15.2%) and Indonesia (+1.1%) displayed positive paces of growth. Moreover, Lao People's Democratic Republic emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +30.1% from 2012-2022. By contrast, Vietnam (-2.0%) illustrated a downward trend over the same period. While the share of Indonesia (+8 p.p.), Cambodia (+4.8 p.p.), Lao People's Democratic Republic (+3.2 p.p.) and Thailand (+3 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Malaysia (-19.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X), Indonesia ($X) and Vietnam ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 85% share of total imports. Cambodia, Lao People's Democratic Republic and Thailand lagged somewhat behind, together accounting for a further 13%.

Among the main importing countries, Lao People's Democratic Republic, with a CAGR of +23.4%, recorded the highest growth rate of 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

In 2022, the import price in South-Eastern Asia amounted to $X per ton, with an increase of 13% against the previous year. In general, the import price, however, continues to indicate a perceptible descent. The most prominent rate of growth was recorded in 2019 when the import price increased by 18% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (-1.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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