Asia: Carbonate Market 2022

Carbonate Market Size in Asia

The Asian carbonate market expanded markedly to $X in 2021, rising by 5.4% against the previous year. The market value increased at an average annual rate of +2.9% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Carbonate Production in Asia

In value terms, carbonate production stood at $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.5% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 18% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Carbonate Exports

Exports in Asia

In 2021, the amount of carbonates and peroxocarbonates exported in Asia amounted to X tons, flattening at 2020. Total exports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -4.0% against 2019 indices. The pace of growth appeared the most rapid in 2018 with an increase of 19%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, carbonate exports rose sharply to $X in 2021. Total exports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of 27%. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in years to come.

Exports by Country

In 2021, Turkey (X tons) represented the key exporter of carbonates and peroxocarbonates, creating 53% of total exports. It was distantly followed by China (X tons) and Vietnam (X tons), together achieving a 28% share of total exports. India (X tons), Jordan (X tons), Malaysia (X tons) and South Korea (X tons) took a minor share of total exports.

Exports from Turkey increased at an average annual rate of +15.1% from 2012 to 2021. At the same time, Vietnam (+20.9%), India (+10.6%) and South Korea (+5.1%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia, with a CAGR of +20.9% from 2012-2021. Jordan and Malaysia experienced a relatively flat trend pattern. By contrast, China (-4.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Turkey and Vietnam increased by +29 and +5.2 percentage points, respectively. Malaysia (-1.6 p.p.), Jordan (-1.9 p.p.) and China (-27.9 p.p.) saw their shares reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X), China ($X) and South Korea ($X) constituted the countries with the highest levels of exports in 2021, together accounting for 78% of total exports.

In terms of the main exporting countries, Turkey, with a CAGR of +13.8%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, growing by 6.8% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 7% against the previous year. Over the period under review, the export prices hit record highs in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of origin: the country with the highest price was South Korea ($X per ton), while Jordan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+5.5%), while the other leaders experienced more modest paces of growth.

Carbonate Imports

Imports in Asia

In 2021, approx. X tons of carbonates and peroxocarbonates were imported in Asia; growing by 6.6% on the year before. The total import volume increased at an average annual rate of +3.9% from 2012 to 2021; 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 imports increased by 11%. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, carbonate imports soared to $X in 2021. Total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 23%. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, India (X tons), distantly followed by Indonesia (X tons), Thailand (X tons), South Korea (X tons), Vietnam (X tons), Saudi Arabia (X tons), Malaysia (X tons), China (X tons) and Bangladesh (X tons) represented the largest importers of carbonates and peroxocarbonates, together constituting 72% of total imports. The following importers - Kazakhstan (X tons), Japan (X tons), Taiwan (Chinese) (X tons) and the Philippines (X tons) - together made up 12% of total imports.

From 2012 to 2021, the biggest increases were in China (with a CAGR of +20.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), South Korea ($X) and India ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 45% of total imports.

China, with a CAGR of +22.6%, saw the highest growth rate of 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 2021, the import price in Asia amounted to $X per ton, surging by 14% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.4%. The level of import peaked at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was China ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+7.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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