Asia: Hydrogen Chloride Market 2023

Hydrogen Chloride Market Size in Asia

The Asian hydrogen chloride market expanded to $X in 2021, with an increase of 2.4% against the previous year. Overall, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Hydrogen Chloride Production in Asia

In value terms, hydrogen chloride production rose slightly to $X in 2021 estimated in export price. In general, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 11% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2021, production growth remained at a lower figure.

Hydrogen Chloride Exports

Exports in Asia

In 2021, exports of hydrogen chloride (hydrochloric acid) in Asia surged to X tons, increasing by 32% compared with 2020. In general, exports continue to indicate a relatively flat trend pattern. The volume of export peaked at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, hydrogen chloride exports surged to $X in 2021. Total exports indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +75.5% against 2015 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

India represented the largest exporter of hydrogen chloride (hydrochloric acid) in Asia, with the volume of exports finishing at X tons, which was approx. 39% of total exports in 2021. Saudi Arabia (X tons) took a 13% share (based on physical terms) of total exports, which put it in second place, followed by Singapore (6.3%), Pakistan (6.1%), Thailand (5.4%), the United Arab Emirates (5.3%) and China (5.2%). Japan (X tons), South Korea (X tons), Malaysia (X tons), Kuwait (X tons) and Taiwan (Chinese) (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to hydrogen chloride exports from India stood at +7.6%. At the same time, the United Arab Emirates (+44.4%), Singapore (+17.0%), Taiwan (Chinese) (+14.5%), Thailand (+6.6%), China (+3.2%) and Saudi Arabia (+1.9%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in Asia, with a CAGR of +44.4% from 2012-2021. Japan experienced a relatively flat trend pattern. By contrast, Pakistan (-4.9%), Kuwait (-6.7%), Malaysia (-14.4%) and South Korea (-17.4%) illustrated a downward trend over the same period. India (+18 p.p.), the United Arab Emirates (+5.1 p.p.), Singapore (+4.7 p.p.), Thailand (+2.3 p.p.), Saudi Arabia (+1.8 p.p.) and Taiwan (Chinese) (+1.8 p.p.) significantly strengthened its position in terms of the total exports, while Kuwait, Pakistan, Malaysia and South Korea saw its share reduced by -2.4%, -3.6%, -9.3% and -16.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) remains the largest hydrogen chloride supplier in Asia, comprising 41% of total exports. The second position in the ranking was held by India ($X), with an 11% share of total exports. It was followed by Taiwan (Chinese), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Japan stood at +5.1%. In the other countries, the average annual rates were as follows: India (+3.2% per year) and Taiwan (Chinese) (+17.0% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, falling by -2.3% against the previous year. Export price indicated a perceptible increase from 2012 to 2021: its price increased at an average annual rate of +2.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, hydrogen chloride export price increased by +51.0% against 2015 indices. The pace of growth was the most pronounced in 2020 when the export price increased by 29% against the previous year. As a result, the export price attained the peak level of $X per ton, and then shrank in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+14.1%), while the other leaders experienced more modest paces of growth.

Hydrogen Chloride Imports

Imports in Asia

In 2021, the amount of hydrogen chloride (hydrochloric acid) imported in Asia rose sharply to X tons, with an increase of 9% compared with the previous year. The total import volume increased at an average annual rate of +1.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 with an increase of 14% against the previous year. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, hydrogen chloride imports expanded markedly to $X in 2021. The total import value increased at an average annual rate of +2.7% over the period 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 2019 when imports increased by 12%. The level of import peaked in 2021 and is expected to retain growth in the immediate term.

Imports by Country

In 2021, Malaysia (X tons), distantly followed by South Korea (X tons), Kuwait (X tons), Vietnam (X tons) and Nepal (X tons) were the major importers of hydrogen chloride (hydrochloric acid), together committing 66% of total imports. Kazakhstan (X tons), China (X tons), Syrian Arab Republic (X tons), Cambodia (X tons), Azerbaijan (X tons), Taiwan (Chinese) (X tons), Indonesia (X tons) and Jordan (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Cambodia (with a CAGR of +39.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Taiwan (Chinese) ($X) and South Korea ($X) were the countries with the highest levels of imports in 2021, with a combined 59% share of total imports. These countries were followed by Kuwait, Malaysia, Vietnam, Azerbaijan, Kazakhstan, Cambodia, Jordan, Nepal, Syrian Arab Republic and Indonesia, which together accounted for a further 22%.

Among the main importing countries, Kuwait, with a CAGR of +37.1%, saw the highest growth rate of the value of imports, 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, dropping by -3% against the previous year. Over the last nine years, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2020 when the import price increased by 40% against the previous year. As a result, import price reached the peak level of $X per ton, and then fell in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while Nepal ($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 (+17.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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