Asia: Organo-Sulphur Compound Market 2023

Organo-Sulphur Compound Market Size in Asia

In 2022, after two years of growth, there was decline in the Asian organo-sulphur compound market, when its value decreased by -1.3% to $X. In general, consumption showed a slight decline. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

Organo-Sulphur Compound Production in Asia

In value terms, organo-sulphur compound production reached $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 12%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Organo-Sulphur Compound Exports

Exports in Asia

Organo-sulphur compound exports rose sharply to X tons in 2022, growing by 12% compared with the year before. Overall, exports recorded a strong expansion. The most prominent rate of growth was recorded in 2017 with an increase of 24% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, organo-sulphur compound exports skyrocketed to $X in 2022. In general, exports saw a resilient increase. The growth pace was the most rapid in 2021 when exports increased by 27%. The level of export peaked in 2022 and is likely to continue growth in years to come.

Exports by Country

In 2022, China (X tons) represented the key exporter of organo-sulphur compounds, generating 72% of total exports. It was distantly followed by Singapore (X tons) and Malaysia (X tons), together achieving a 16% share of total exports. The following exporters - Japan (X tons), India (X tons) and South Korea (X tons) - together made up 10% of total exports.

Exports from China increased at an average annual rate of +8.5% from 2012 to 2022. At the same time, Malaysia (+57.9%), India (+21.5%), Singapore (+20.5%) and South Korea (+9.3%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in Asia, with a CAGR of +57.9% from 2012-2022. By contrast, Japan (-6.2%) illustrated a downward trend over the same period. While the share of Singapore (+7 p.p.), Malaysia (+5.6 p.p.), China (+4.5 p.p.) and India (+2.4 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Japan (-13.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest organo-sulphur compound supplier in Asia, comprising 75% of total exports. The second position in the ranking was held by Singapore ($X), with a 5.6% share of total exports. It was followed by India, with a 5.5% share.

From 2012 to 2022, the average annual growth rate of value in China amounted to +10.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (-9.7% per year) and India (+17.9% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, with an increase of 13% against the previous year. Over the period under review, the export price, however, showed a mild reduction. The pace of growth appeared the most rapid in 2018 an increase of 13%. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+4.4%), while the other leaders experienced more modest paces of growth.

Organo-Sulphur Compound Imports

Imports in Asia

In 2022, after five years of growth, there was significant decline in supplies from abroad of organo-sulphur compounds, when their volume decreased by -17.2% to X tons. The total import volume increased at an average annual rate of +2.3% over the period 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 2017 when imports increased by 16% against the previous year. The volume of import peaked at X tons in 2021, and then fell markedly in the following year.

In value terms, organo-sulphur compound imports contracted modestly to $X in 2022. The total import value increased at an average annual rate of +1.9% 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 was the most pronounced in 2021 when imports increased by 20% against the previous year. Over the period under review, imports reached the peak figure at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

China represented the major importer of organo-sulphur compounds in Asia, with the volume of imports amounting to X tons, which was near 33% of total imports in 2022. India (X tons) took the second position in the ranking, followed by South Korea (X tons), Thailand (X tons), Indonesia (X tons) and Turkey (X tons). All these countries together held approx. 42% share of total imports. Vietnam (X tons), the Philippines (X tons) and Japan (X tons) took a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to organo-sulphur compound imports into China stood at +1.3%. At the same time, the Philippines (+11.6%), India (+6.9%), Vietnam (+6.8%), Turkey (+4.6%), South Korea (+3.7%), Japan (+3.4%), Indonesia (+2.5%) and Thailand (+2.4%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in Asia, with a CAGR of +11.6% from 2012-2022. From 2012 to 2022, the share of India and the Philippines increased by +4.8 and +2.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported organo-sulphur compounds in Asia, comprising 30% of total imports. The second position in the ranking was held by India ($X), with a 14% share of total imports. It was followed by South Korea, with a 13% share.

In China, organo-sulphur compound imports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+7.5% per year) and South Korea (+5.4% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, increasing by 19% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The level of import peaked at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+2.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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