Southern Asia: Carbon Dioxide Market 2024

Carbon Dioxide Market Size in Southern Asia

The South Asian carbon dioxide market fell modestly to $X in 2022, flattening at the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the market value increased by 7.3%. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Carbon Dioxide Production in Southern Asia

In value terms, carbon dioxide production fell modestly to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 7.2%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Carbon Dioxide Exports

Exports in Southern Asia

In 2022, overseas shipments of carbon dioxide increased by 75% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2013 when exports increased by 307%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the immediate term.

In value terms, carbon dioxide exports soared to $X in 2022. Overall, exports showed a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of 298% 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

India prevails in exports structure, amounting to X tons, which was approx. 93% of total exports in 2022. It was distantly followed by Pakistan (X tons), mixing up a 7.1% share of total exports.

India was also the fastest-growing in terms of the carbon dioxide exports, with a CAGR of +26.3% from 2012 to 2022. At the same time, Pakistan (+16.8%) displayed positive paces of growth. India (+7.2 p.p.) significantly strengthened its position in terms of the total exports, while Pakistan saw its share reduced by -7.2% from 2012 to 2022, respectively.

In value terms, India ($X) remains the largest carbon dioxide supplier in Southern Asia, comprising 94% of total exports. The second position in the ranking was taken by Pakistan ($X), with a 4.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in India amounted to +18.1%.

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, growing by 2.8% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 an increase of 7.2%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while Pakistan stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (-5.9%).

Carbon Dioxide Imports

Imports in Southern Asia

In 2022, supplies from abroad of carbon dioxide increased by 1.2% to X tons, rising for the second consecutive year after three years of decline. Overall, imports saw a remarkable increase. The most prominent rate of growth was recorded in 2016 when imports increased by 76%. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, carbon dioxide imports surged to $X in 2022. Over the period under review, imports showed a measured expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 128%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Nepal represented the main importer of carbon dioxide in Southern Asia, with the volume of imports recording X tons, which was near 47% of total imports in 2022. It was distantly followed by Sri Lanka (X tons), Bangladesh (X tons) and Bhutan (X tons), together making up a 46% share of total imports. The following importers - Afghanistan (X tons) and India (X tons) - together made up 6.8% of total imports.

Imports into Nepal increased at an average annual rate of +9.9% from 2012 to 2022. At the same time, Bangladesh (+70.3%), India (+37.5%), Sri Lanka (+18.7%), Bhutan (+14.1%) and Afghanistan (+6.0%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +70.3% from 2012-2022. From 2012 to 2022, the share of Bangladesh, Sri Lanka, Nepal, Bhutan and India increased by +18, +11, +4.4, +3.4 and +2.4 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X), Sri Lanka ($X) and Nepal ($X) were the countries with the highest levels of imports in 2022, with a combined 84% share of total imports.

India, with a CAGR of +44.5%, saw the highest growth rate of the value of imports, among the main importing countries 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 Southern Asia amounted to $X per ton, rising by 47% against the previous year. Overall, the import price, however, continues to indicate a noticeable slump. The pace of growth was the most pronounced in 2013 when the import price increased by 49%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was India ($X per ton), while Nepal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+5.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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