ASEAN: Iron Oxide Pigment Market 2024

Iron Oxide Pigment Market Size in ASEAN

For the fifth consecutive year, the ASEAN iron oxide pigment market recorded growth in sales value, which increased by less than X% to $X in 2022. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked in 2022 and is expected to retain growth in the near future.

Iron Oxide Pigment Production in ASEAN

In value terms, iron oxide pigment production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Iron Oxide Pigment Exports

Exports in ASEAN

After three years of growth, overseas shipments of iron oxide pigments decreased by X% to X tons in 2022. In general, exports recorded a pronounced shrinkage. The pace of growth appeared the most rapid in 2013 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, iron oxide pigment exports fell markedly to $X in 2022. Over the period under review, exports recorded a drastic downturn. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Thailand (X tons) and Vietnam (X tons) represented roughly X% of total exports in 2022. Indonesia (X tons) took the next position in the ranking, followed by Malaysia (X tons) and Singapore (X tons). All these countries together held approx. X% share of total exports.

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

In value terms, Vietnam ($X) remains the largest iron oxide pigment supplier in ASEAN, comprising X% of total exports. The second position in the ranking was held by Singapore ($X), with a X% share of total exports. It was followed by Thailand, with a X% share.

In Vietnam, iron oxide pigment exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (X% per year) and Thailand (X% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, with an increase of X% against the previous year. Overall, the export price, however, recorded a perceptible curtailment. The pace of growth appeared the most rapid in 2014 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced a decline in the export price figures.

Iron Oxide Pigment Imports

Imports in ASEAN

In 2022, supplies from abroad of iron oxide pigments decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports saw a mild slump. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, iron oxide pigment imports rose sharply to $X in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

Imports by Country

The purchases of the five major importers of iron oxide pigments, namely Malaysia, Vietnam, Thailand, Indonesia and the Philippines, represented more than two-thirds of total import. Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of X%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest iron oxide pigment importing markets in ASEAN were Vietnam ($X), Malaysia ($X) and Thailand ($X), together comprising X% of total imports.

Vietnam, with a CAGR of X%, recorded 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 mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, jumping by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. 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 Singapore ($X per ton), while Malaysia ($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 (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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