South-Eastern Asia: Baking Soda Market 2024

Baking Soda Market Size in South-Eastern Asia

In 2021, the Southeast Asian baking soda market increased by 3% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +1.4% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Baking Soda Production in South-Eastern Asia

In value terms, baking soda production dropped to $X in 2021 estimated in export price. Overall, production, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by 60% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Baking Soda Exports

Exports in South-Eastern Asia

Baking soda exports was estimated at X tons in 2021, flattening at 2020. Overall, exports recorded a significant increase. The most prominent rate of growth was recorded in 2016 when exports increased by 735%. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, baking soda exports expanded notably to $X in 2021. Over the period under review, exports enjoyed significant growth. The pace of growth was the most pronounced in 2016 when exports increased by 308% against the previous year. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Thailand was the main exporting country with an export of around X tons, which recorded 60% of total exports. It was distantly followed by Singapore (X tons), mixing up a 39% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Thailand (with a CAGR of +84.6%).

In value terms, the largest baking soda supplying countries in South-Eastern Asia were Thailand ($X) and Singapore ($X).

Among the main exporting countries, Thailand, with a CAGR of +69.3%, recorded the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per ton, growing by 5.5% against the previous year. In general, the export price, however, recorded a deep reduction. The growth pace was the most rapid in 2019 when the export price increased by 22% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Thailand amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (-8.3%).

Baking Soda Imports

Imports in South-Eastern Asia

Baking soda imports rose rapidly to X tons in 2021, surging by 6.7% compared with the previous year. The total import volume increased at an average annual rate of +5.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 13% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in years to come.

In value terms, baking soda imports surged to $X in 2021. Total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +11.7% against 2018 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Indonesia represented the major importer of baking soda in South-Eastern Asia, with the volume of imports recording X tons, which was near 42% of total imports in 2021. Vietnam (X tons) took an 18% share (based on physical terms) of total imports, which put it in second place, followed by Thailand (18%), Malaysia (9.1%) and the Philippines (7.4%). Singapore (X tons) and Myanmar (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to baking soda imports into Indonesia stood at +3.9%. At the same time, Vietnam (+18.2%), Singapore (+15.7%), Myanmar (+10.7%), the Philippines (+10.0%) and Malaysia (+3.0%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +18.2% from 2012-2021. Thailand experienced a relatively flat trend pattern. From 2012 to 2021, the share of Vietnam, the Philippines and Singapore increased by +12, +2.4 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X), Vietnam ($X) and Thailand ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 75% of total imports.

Among the main importing countries, Vietnam, with a CAGR of +22.7%, 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

The import price in South-Eastern Asia stood at $X per ton in 2021, with an increase of 16% against the previous year. In general, the import price recorded a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 (+3.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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