South-Eastern Asia: Sulphur Market 2024

Sulphur Market Size in South-Eastern Asia

The Southeast Asian sulphur market was finally on the rise to reach $X in 2021, after two years of decline. The market value increased at an average annual rate of +1.3% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Sulphur Production in South-Eastern Asia

In value terms, sulphur production rose sharply to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.7% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 19%. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Sulphur Exports

Exports in South-Eastern Asia

In 2021, shipments abroad of sulphur (sublimed or precipitated) and colloidal sulphur increased by 72% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports, however, recorded a abrupt curtailment. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, sulphur exports skyrocketed to $X in 2021. Overall, exports, however, recorded a abrupt descent. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Singapore represented the key exporter of sulphur (sublimed or precipitated) and colloidal sulphur in South-Eastern Asia, with the volume of exports reaching X tons, which was approx. 85% of total exports in 2021. It was distantly followed by Thailand (X tons), creating a 13% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to sulphur exports from Singapore stood at -9.1%. At the same time, Thailand (+213.6%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +213.6% from 2012-2021. While the share of Thailand (+13 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Singapore (-9.7 p.p.) displayed negative dynamics.

In value terms, Singapore ($X) remains the largest sulphur supplier in South-Eastern Asia, comprising 72% of total exports. The second position in the ranking was taken by Thailand ($X), with an 18% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Singapore amounted to -8.1%.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, picking up by 19% against the previous year. Export price indicated a slight increase from 2012 to 2021: its price increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, sulphur export price increased by +63.1% against 2019 indices. The most prominent rate of growth was recorded in 2020 an increase of 37%. The level of export peaked in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+1.1%).

Sulphur Imports

Imports in South-Eastern Asia

In 2021, after three years of decline, there was significant growth in purchases abroad of sulphur (sublimed or precipitated) and colloidal sulphur, when their volume increased by 6.8% to X tons. Over the period under review, imports, however, saw a abrupt downturn. The pace of growth was the most pronounced in 2017 with an increase of 18%. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, sulphur imports surged to $X in 2021. In general, imports, however, saw a abrupt contraction. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Indonesia was the main importing country with an import of around X tons, which amounted to 67% of total imports. It was distantly followed by Thailand (X tons), achieving a 30% share of total imports. Vietnam (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to sulphur imports into Indonesia stood at -14.5%. At the same time, Thailand (+19.2%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +19.2% from 2012-2021. By contrast, Vietnam (-6.3%) illustrated a downward trend over the same period. While the share of Thailand (+28 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Indonesia (-21.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) constitutes the largest market for imported sulphur (sublimed or precipitated) and colloidal sulphur in South-Eastern Asia, comprising 58% of total imports. The second position in the ranking was held by Thailand ($X), with a 20% share of total imports.

From 2012 to 2021, the average annual growth rate of value in Indonesia totaled -14.0%. In the other countries, the average annual rates were as follows: Thailand (+16.3% per year) and Vietnam (-7.1% per year).

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per ton, jumping by 25% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+0.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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