Asia-Pacific: Salt Market 2024

Salt Market Size in Asia-Pacific

In 2022, the Asia-Pacific salt market increased by X% to $X, rising for the seventh consecutive year after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when the market value increased by X% against the previous year. The level of consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

Salt Production in Asia-Pacific

In value terms, salt production fell modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2021 when the production volume increased by X%. As a result, production attained the peak level of $X, and then reduced slightly in the following year.

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Salt Exports

Exports in Asia-Pacific

In 2022, shipments abroad of salt and pure sodium chloride was finally on the rise to reach X tons after three years of decline. Over the period under review, exports showed buoyant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, salt exports rose significantly to $X in 2022. In general, exports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The level of export peaked in 2022 and is likely to continue growth in the near future.

Exports by Country

India dominates exports structure, resulting at X tons, which was near X% of total exports in 2022. It was distantly followed by China (X tons) and Australia (X tons), together achieving a X% share of total exports. The following exporters - Pakistan (X tons) and Thailand (X tons) - each recorded a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to salt exports from India stood at X%. At the same time, Australia (X%), Thailand (X%) and Pakistan (X%) displayed positive paces of growth. Moreover, Australia emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2022. China experienced a relatively flat trend pattern. While the share of India (X p.p.) and Australia (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of China (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest salt supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was held by China ($X), with a X% share of total exports. It was followed by Pakistan, with an X% share.

From 2012 to 2022, the average annual growth rate of value in India stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: China (X% per year) and Pakistan (X% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, falling by X% against the previous year. Over the period under review, the export price continues to indicate a pronounced descent. The pace of growth appeared the most rapid in 2021 an increase of X%. As a result, the export price reached the peak level of $X per ton, and then fell notably in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (X%), while the other leaders experienced mixed trends in the export price figures.

Salt Imports

Imports in Asia-Pacific

In 2022, purchases abroad of salt and pure sodium chloride increased by X% to X tons, rising for the second year in a row after three years of decline. In general, imports showed a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, salt imports skyrocketed to $X in 2022. Total imports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Japan (X tons) and Indonesia (X tons) represented roughly X% of total imports in 2022. South Korea (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Taiwan (Chinese) (X%), China (X%) and Vietnam (X%). The Philippines (X tons) took a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Vietnam (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and South Korea ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Taiwan (Chinese), Indonesia, Vietnam and the Philippines lagged somewhat behind, together accounting for a further X%.

Vietnam, with a CAGR of X%, recorded 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-Pacific amounted to $X per ton, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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