Asia: Aluminium Hydroxide Market 2023

Aluminium Hydroxide Market Size in Asia

The Asian aluminium hydroxide market totaled $X in 2022, rising by 1.8% against the previous year. The market value increased at an average annual rate of +4.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Aluminium Hydroxide Production in Asia

In value terms, aluminium hydroxide production rose modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +5.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 16% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Aluminium Hydroxide Exports

Exports in Asia

In 2022, approx. X tons of aluminium hydroxide were exported in Asia; waning by -2.6% on 2021. The total export volume increased at an average annual rate of +2.4% 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 2018 when exports increased by 15%. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, aluminium hydroxide exports amounted to $X in 2022. Total exports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -6.2% against 2020 indices. The growth pace was the most rapid in 2018 with an increase of 28% against the previous year. The level of export peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

China dominates exports structure, recording X tons, which was near 60% of total exports in 2022. India (X tons) ranks second in terms of the total exports with a 9.5% share, followed by Indonesia (9.2%), South Korea (9.2%) and Vietnam (7.2%). Japan (X tons) took a relatively small share of total exports.

Exports from China increased at an average annual rate of +6.0% from 2012 to 2022. At the same time, Indonesia (+66.4%) and Vietnam (+54.2%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in Asia, with a CAGR of +66.4% from 2012-2022. South Korea experienced a relatively flat trend pattern. By contrast, India (-5.8%) and Japan (-14.6%) illustrated a downward trend over the same period. While the share of China (+18 p.p.), Indonesia (+9.1 p.p.) and Vietnam (+7 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of South Korea (-2.4 p.p.), India (-12.3 p.p.) and Japan (-18.4 p.p.) displayed negative dynamics.

In value terms, China ($X) remains the largest aluminium hydroxide supplier in Asia, comprising 62% of total exports. The second position in the ranking was held by South Korea ($X), with a 9.9% share of total exports. It was followed by Japan, with an 8.2% share.

In China, aluminium hydroxide exports increased at an average annual rate of +8.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (+5.5% per year) and Japan (-6.9% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, picking up by 4.6% against the previous year. Over the last decade, it increased at an average annual rate of +2.5%. The pace of growth was the most pronounced in 2018 when the export price increased by 11%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

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 Japan ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+9.0%), while the other leaders experienced more modest paces of growth.

Aluminium Hydroxide Imports

Imports in Asia

In 2022, approx. X tons of aluminium hydroxide were imported in Asia; approximately equating the previous year. The total import volume increased at an average annual rate of +2.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 22% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, aluminium hydroxide imports rose rapidly to $X in 2022. The total import value increased at an average annual rate of +4.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of 24%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

Japan was the major importing country with an import of about X tons, which resulted at 49% of total imports. It was distantly followed by South Korea (X tons), Turkey (X tons) and Thailand (X tons), together constituting a 33% share of total imports. The following importers - Malaysia (X tons), Taiwan (Chinese) (X tons) and China (X tons) - together made up 11% of total imports.

Imports into Japan increased at an average annual rate of +1.6% from 2012 to 2022. At the same time, Turkey (+11.7%), China (+7.3%), Taiwan (Chinese) (+4.3%) and South Korea (+3.4%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing importer imported in Asia, with a CAGR of +11.7% from 2012-2022. Malaysia and Thailand experienced a relatively flat trend pattern. From 2012 to 2022, the share of Turkey and South Korea increased by +3.6 and +2.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest aluminium hydroxide importing markets in Asia were Japan ($X), South Korea ($X) and China ($X), together comprising 71% of total imports. Turkey, Thailand, Taiwan (Chinese) and Malaysia lagged somewhat behind, together comprising a further 16%.

Turkey, with a CAGR of +10.7%, saw the highest rates of growth with regard to the value of imports, in terms of 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 Asia amounted to $X per ton, growing by 12% against the previous year. Over the last decade, it increased at an average annual rate of +2.4%. The most prominent rate of growth was recorded in 2021 when the import price increased by 17% against the previous year. Over the period under review, import prices attained the maximum in 2022 and is likely to see steady growth in years to come.

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 China ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+3.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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