South-Eastern Asia: Sulphur Market 2024

Sulphur Market Size in South-Eastern Asia

The Southeast Asian sulphur market soared to $X in 2022, jumping by 52% against the previous year. The total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +74.9% against 2017 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Sulphur Production in South-Eastern Asia

In value terms, sulphur production expanded sharply to $X in 2022 estimated in export price. In general, production, however, recorded a noticeable downturn. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Sulphur Exports

Exports in South-Eastern Asia

In 2022, approx. X tons of sulphur were exported in South-Eastern Asia; waning by -24.3% compared with the previous year's figure. In general, exports, however, continue to indicate mild growth. The growth pace was the most rapid in 2021 when exports increased by 126%. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, sulphur exports skyrocketed to $X in 2022. Overall, exports, however, showed slight growth. The pace of growth appeared the most rapid in 2021 when exports increased by 105% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Exports by Country

Singapore (X tons) and Malaysia (X tons) dominates exports structure, together comprising 93% of total exports. It was distantly followed by the Philippines (X tons), committing a 4.8% share of total exports. Vietnam (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Vietnam (with a CAGR of +9.2%), while the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) emerged as the largest sulphur supplier in South-Eastern Asia, comprising 63% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 24% share of total exports. It was followed by Vietnam, with a 12% share.

In Singapore, sulphur exports expanded at an average annual rate of +1.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Malaysia (-0.9% per year) and Vietnam (+47.2% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, picking up by 74% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the Philippines ($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 (+34.8%), while the other leaders experienced mixed trends in the export price figures.

Sulphur Imports

Imports in South-Eastern Asia

In 2022, approx. X tons of sulphur were imported in South-Eastern Asia; picking up by 52% against 2021. Over the period under review, imports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2015 when imports increased by 63%. The volume of import peaked in 2022 and is likely to see steady growth in years to come.

In value terms, sulphur imports surged to $X in 2022. In general, imports enjoyed prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Indonesia dominates imports structure, finishing at X tons, which was near 80% of total imports in 2022. It was distantly followed by Vietnam (X tons) and Malaysia (X tons), together generating an 11% share of total imports. Thailand (X tons), Myanmar (X tons) and the Philippines (X tons) took a minor share of total imports.

Imports into Indonesia increased at an average annual rate of +18.5% from 2012 to 2022. At the same time, Myanmar (+45.3%) and Malaysia (+14.0%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +45.3% from 2012-2022. By contrast, Vietnam (-2.4%), Thailand (-2.5%) and the Philippines (-5.0%) illustrated a downward trend over the same period. While the share of Indonesia (+34 p.p.) and Myanmar (+2.9 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the Philippines (-8 p.p.), Thailand (-11.2 p.p.) and Vietnam (-17.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) constitutes the largest market for imported sulphur in South-Eastern Asia, comprising 79% of total imports. The second position in the ranking was held by Thailand ($X), with a 6% share of total imports. It was followed by Vietnam, with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Indonesia amounted to +18.7%. The remaining importing countries recorded the following average annual rates of imports growth: Thailand (+2.1% per year) and Vietnam (-2.2% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2022, with an increase of 75% against the previous year. Over the period under review, 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 2022, amid the top importers, the country with the highest price was the Philippines ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+8.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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