ASEAN: Market for Zirconium Ores and Concentrates 2024

Market Size for Zirconium Ores and Concentrates in ASEAN

In 2023, the ASEAN zirconium ore and concentrate market increased by X% to $X, rising for the third consecutive year after two years of decline. Overall, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Zirconium Ores and Concentrates in ASEAN

In value terms, zirconium ore and concentrate production stood at $X in 2023 estimated in export price. In general, production, however, recorded a notable expansion. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.

Exports of Zirconium Ores and Concentrates

Exports in ASEAN

After two years of growth, overseas shipments of zirconium ores and concentrates decreased by X% to X tons in 2023. In general, exports, however, saw a mild increase. The pace of growth appeared the most rapid in 2022 when exports increased by X%. As a result, the exports attained the peak of X tons, and then contracted markedly in the following year.

In value terms, zirconium ore and concentrate exports dropped significantly to $X in 2023. Overall, exports, however, showed noticeable growth. The most prominent rate of growth was recorded in 2022 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X, and then shrank significantly in the following year.

Exports by Country

In 2023, Indonesia (X tons) represented the largest exporter of zirconium ores and concentrates, achieving X% of total exports. Malaysia (X tons) took the second position in the ranking, followed by Vietnam (X tons). All these countries together held near X% share of total exports. Thailand (X tons) took a little share of total exports.

From 2012 to 2023, average annual rates of growth with regard to zirconium ore and concentrate exports from Indonesia stood at X%. At the same time, Malaysia (X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2023. By contrast, Thailand (X%) and Vietnam (X%) illustrated a downward trend over the same period. Malaysia (X p.p.) significantly strengthened its position in terms of the total exports, while Thailand and Vietnam saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) remains the largest zirconium ore and concentrate supplier in ASEAN, comprising X% of total exports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total exports. It was followed by Vietnam, with an X% share.

In Indonesia, zirconium ore and concentrate exports increased at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (X% per year) and Vietnam (X% per year).

Export Prices by Country

In 2023, the export price in ASEAN amounted to $X per ton, growing by X% against the previous year. Export price indicated pronounced growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, zirconium ore and concentrate export price decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2023, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other leaders experienced more modest paces of growth.

Imports of Zirconium Ores and Concentrates

Imports in ASEAN

In 2023, the amount of zirconium ores and concentrates imported in ASEAN expanded notably to X tons, increasing by X% on the year before. Overall, imports saw modest growth. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2023, imports remained at a lower figure.

In value terms, zirconium ore and concentrate imports skyrocketed to $X in 2023. In general, imports saw pronounced growth. The pace of growth appeared the most rapid in 2021 with an increase of X%. The level of import peaked in 2023 and is expected to retain growth in the near future.

Imports by Country

Malaysia prevails in imports structure, recording X tons, which was approx. X% of total imports in 2023. Vietnam (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Thailand (X%) and Singapore (X%). Indonesia (X tons) held a relatively small share of total imports.

From 2012 to 2023, average annual rates of growth with regard to zirconium ore and concentrate imports into Malaysia stood at X%. At the same time, Singapore (X%) and Vietnam (X%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2023. By contrast, Thailand (X%) and Indonesia (X%) illustrated a downward trend over the same period. While the share of Malaysia (X p.p.), Vietnam (X p.p.) and Singapore (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Thailand (X p.p.) and Indonesia (X p.p.) displayed negative dynamics.

In value terms, Malaysia ($X) constitutes the largest market for imported zirconium ores and concentrates in ASEAN, comprising X% of total imports. The second position in the ranking was held by Vietnam ($X), with a X% share of total imports. It was followed by Thailand, with an X% share.

From 2012 to 2023, the average annual growth rate of value in Malaysia amounted to X%. In the other countries, the average annual rates were as follows: Vietnam (X% per year) and Thailand (X% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2023, increasing by X% against the previous year. Overall, the import price posted a mild increase. The most prominent rate of growth was recorded in 2017 when the import price increased by X% against the previous year. The level of import peaked in 2023 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Malaysia ($X per ton), while Singapore ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform