South-Eastern Asia: Sodium Triphosphate Market 2024

Sodium Triphosphate Market Size in South-Eastern Asia

In 2022, the Southeast Asian sodium triphosphate market increased by 18% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in the near future.

Sodium Triphosphate Production in South-Eastern Asia

In value terms, sodium triphosphate production dropped slightly to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 3%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Sodium Triphosphate Exports

Exports in South-Eastern Asia

In 2022, sodium triphosphate exports in South-Eastern Asia contracted dramatically to X tons, which is down by -19.2% compared with 2021. Total exports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 with an increase of 49% against the previous year. The volume of export peaked at X tons in 2021, and then reduced rapidly in the following year.

In value terms, sodium triphosphate exports stood at $X in 2022. In general, exports, however, recorded a buoyant increase. The pace of growth appeared the most rapid in 2017 when exports increased by 53%. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Exports by Country

Thailand dominates exports structure, accounting for X tons, which was near 96% of total exports in 2022. Indonesia (X tons) followed a long way behind the leaders.

Thailand was also the fastest-growing in terms of the sodium triphosphate (sodium tripolyphosphates) exports, with a CAGR of +4.9% from 2012 to 2022. Indonesia (-7.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Thailand increased by +11 percentage points.

In value terms, Thailand ($X) remains the largest sodium triphosphate supplier in South-Eastern Asia, comprising 97% of total exports. The second position in the ranking was held by Indonesia ($X), with a 1.1% share of total exports.

In Thailand, sodium triphosphate exports increased at an average annual rate of +9.3% over the period from 2012-2022.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, increasing by 33% against the previous year. Export price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sodium triphosphate export price increased by +62.5% against 2016 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 Indonesia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+4.2%).

Sodium Triphosphate Imports

Imports in South-Eastern Asia

In 2022, the amount of sodium triphosphate (sodium tripolyphosphates) imported in South-Eastern Asia reduced to X tons, with a decrease of -8.1% compared with 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 56% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, sodium triphosphate imports soared to $X in 2022. Total imports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +94.9% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 59%. The level of import peaked in 2022 and is likely to continue growth in the near future.

Imports by Country

Indonesia was the key importer of sodium triphosphate (sodium tripolyphosphates) in South-Eastern Asia, with the volume of imports finishing at X tons, which was near 44% of total imports in 2022. Thailand (X tons) ranks second in terms of the total imports with a 17% share, followed by the Philippines (14%), Vietnam (12%) and Malaysia (8.3%). Myanmar (X tons) took a minor share of total imports.

Imports into Indonesia increased at an average annual rate of +5.3% from 2012 to 2022. At the same time, Thailand (+6.3%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +6.3% from 2012-2022. Vietnam, Myanmar and the Philippines experienced a relatively flat trend pattern. By contrast, Malaysia (-11.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Indonesia and Thailand increased by +16 and +7.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X), Thailand ($X) and Vietnam ($X) constituted the countries with the highest levels of imports in 2022, with a combined 81% share of total imports.

Among the main importing countries, Thailand, with a CAGR of +10.9%, recorded 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 2022, with an increase of 33% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Thailand ($X per ton), while Myanmar ($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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