Asia: Salt Market Overview 2021

Salt Market Size in Asia

In 2020, the Asian salt market increased by X% to $X, rising for the fifth year in a row after two years of decline. The market value increased at an average annual rate of +X% over the period from 2007 to 2020; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2008 with an increase of X% year-to-year. The level of consumption peaked at $X in 2013; however, from 2014 to 2020, consumption failed to regain the momentum.

Salt Production in Asia

In value terms, salt production totaled $X in 2020 estimated in export prices. The total output value increased at an average annual rate of +X% over the period from 2007 to 2020; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2008 with an increase of X% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2020, production stood at a somewhat lower figure.

Production By Country in Asia

The country with the largest volume of salt production was China (X tonnes), accounting for X% of total volume. Moreover, salt production in China exceeded the figures recorded by the second-largest producer, India (X tonnes), twofold. The third position in this ranking was occupied by Turkey (X tonnes), with a X% share.

In China, salt production remained relatively stable over the period from 2007-2020. The remaining producing countries recorded the following average annual rates of production growth: India (+X% per year) and Turkey (+X% per year).

Salt Exports

Exports in Asia

In 2020, shipments abroad of salt and pure sodium chloride decreased by -X% to X tonnes, falling for the second consecutive year after two years of growth. Over the period under review, exports, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2010 with an increase of X% against the previous year. Over the period under review, exports hit record highs at X tonnes in 2018; however, from 2019 to 2020, exports failed to regain the momentum.

In value terms, salt exports declined sharply to $X in 2020. Overall, exports, however, enjoyed a buoyant increase. The growth pace was the most rapid in 2010 with an increase of X% against the previous year. Over the period under review, exports hit record highs at $X in 2018; however, from 2019 to 2020, exports failed to regain the momentum.

Exports by Country

India represented the largest exporting country with an export of around X tonnes, which accounted for X% of total exports. It was distantly followed by China (X tonnes), committing a X% share of total exports. The following exporters - Pakistan (X tonnes) and Turkey (X tonnes) - together made up X% of total exports.

From 2007 to 2020, average annual rates of growth with regard to salt exports from India stood at +X%. At the same time, Pakistan (+X%), Turkey (+X%) and China (+X%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing exporter exported in Asia, with a CAGR of +X% from 2007-2020. While the share of India (+X p.p.) increased significantly in terms of the total exports from 2007-2020, 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, the largest salt supplying countries in Asia were India ($X), China ($X) and Pakistan ($X), with a combined X% share of total exports.

In terms of the main exporting countries, Pakistan 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

In 2020, the salt export price in Asia amounted to $X per tonne, which is down by -X% against the previous year. Over the period under review, the export price recorded a pronounced shrinkage. The most prominent rate of growth was recorded in 2011 when the export price increased by X% year-to-year. As a result, export price reached the peak level of $X per tonne. From 2012 to 2020, the growth in terms of the export prices failed to regain the momentum.

Prices varied noticeably by the country of origin; the country with the highest price was Pakistan ($X per tonne), while India ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Pakistan, while the other leaders experienced more modest paces of growth.

Salt Imports

Imports in Asia

In 2020, imports of salt and pure sodium chloride in Asia shrank to X tonnes, declining by -X% compared with 2019 figures. Over the period under review, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X% y-o-y. The volume of import peaked at X tonnes in 2008; however, from 2009 to 2020, imports failed to regain the momentum.

In value terms, salt imports reduced to $X in 2020. Total imports indicated a measured expansion from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, imports decreased by -X% against 2018 indices. The growth pace was the most rapid in 2011 with an increase of X% year-to-year. The level of import peaked at $X in 2018; however, from 2019 to 2020, imports failed to regain the momentum.

Imports by Country

Japan represented the largest importing country with an import of around X tonnes, which resulted at X% of total imports. Indonesia (X tonnes) occupied a X% share (based on tonnes) of total imports, which put it in second place, followed by Taiwan (Chinese) (X%), South Korea (X%) and China (X%). Bangladesh (X tonnes) followed a long way behind the leaders.

From 2007 to 2020, average annual rates of growth with regard to salt imports into Japan stood at -X%. At the same time, China (+X%), Bangladesh (+X%) and Indonesia (+X%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Asia, with a CAGR of +X% from 2007-2020. Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, South Korea (-X%) illustrated a downward trend over the same period. Indonesia (+X p.p.), China (+X p.p.) and Bangladesh (+X p.p.) significantly strengthened its position in terms of the total imports, while South Korea and Japan saw its share reduced by -X% and -X% from 2007 to 2020, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest salt importing markets in Asia were Japan ($X), China ($X) and South Korea ($X), with a combined X% share of total imports.

China recorded the highest growth rate of the value of imports, among 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

The salt import price in Asia stood at $X per tonne in 2020, waning by -X% against the previous year. Over the period from 2007 to 2020, it increased at an average annual rate of +X%. The growth pace was the most rapid in 2013 an increase of X% y-o-y. Over the period under review, import prices attained the maximum at $X per tonne in 2015; however, from 2016 to 2020, import prices failed to regain the momentum.

There were significant differences in the average prices amongst the major importing countries. In 2020, the country with the highest price was China ($X per tonne), while Bangladesh ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by South Korea, while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox AI Platform