China: Aluminium Hydroxide Market 2023

Aluminium Hydroxide Market Size in China

The Chinese aluminium hydroxide market expanded modestly to $X in 2022, increasing by 3.8% against the previous year. In general, the total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +7.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -2.6% against 2020 indices. As a result, consumption attained the peak level of $X; afterwards, it flattened through to 2022.

Aluminium Hydroxide Production in China

In value terms, aluminium hydroxide production amounted to $X in 2022 estimated in export price. Overall, the total production indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +8.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -5.0% against 2020 indices. The growth pace was the most rapid in 2020 when the production volume increased by 25%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Aluminium Hydroxide Exports

Exports from China

Aluminium hydroxide exports from China expanded markedly to X tons in 2022, picking up by 7.4% against the previous year's figure. Over the period under review, total exports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -12.4% against 2020 indices. The pace of growth was the most pronounced in 2018 with an increase of 31%. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, aluminium hydroxide exports rose significantly to $X in 2022. Overall, exports posted a strong increase. The pace of growth was the most pronounced in 2018 when exports increased by 31%. Over the period under review, the exports reached the peak figure at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

South Korea (X tons) was the main destination for aluminium hydroxide exports from China, with a 46% share of total exports. Moreover, aluminium hydroxide exports to South Korea exceeded the volume sent to the second major destination, the United States (X tons), sevenfold. Japan (X tons) ranked third in terms of total exports with a 6.9% share.

From 2012 to 2022, the average annual growth rate of volume to South Korea totaled +3.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+1.5% per year) and Japan (+3.9% per year).

In value terms, South Korea ($X) remains the key foreign market for aluminium hydroxide exports from China, comprising 43% of total exports. The second position in the ranking was taken by the United States ($X), with an 8.9% share of total exports. It was followed by India, with a 6.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to South Korea stood at +5.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+5.1% per year) and India (+30.2% per year).

Export Prices by Country

The average aluminium hydroxide export price stood at $X per ton in 2022, approximately equating the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.3%. The most prominent rate of growth was recorded in 2020 an increase of 24%. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+4.8%), while the prices for the other major destinations experienced more modest paces of growth.

Aluminium Hydroxide Imports

Imports into China

In 2022, supplies from abroad of aluminium hydroxide decreased by -14.8% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +7.3% 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 +40.2% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 52%. As a result, imports reached the peak of X tons, and then contracted in the following year.

In value terms, aluminium hydroxide imports fell to $X in 2022. Over the period under review, imports, however, posted a buoyant increase. The pace of growth appeared the most rapid in 2021 with an increase of 101% against the previous year. As a result, imports reached the peak of $X, and then reduced modestly in the following year.

Imports by Country

Germany (X tons), the United States (X tons) and South Korea (X tons) were the main suppliers of aluminium hydroxide imports to China, together accounting for 75% of total imports. Japan, Indonesia, Denmark and the United Arab Emirates lagged somewhat behind, together accounting for a further 23%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of +232.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest aluminium hydroxide suppliers to China were the United States ($X), Germany ($X) and South Korea ($X), with a combined 74% share of total imports. Japan, Denmark, the United Arab Emirates and Indonesia lagged somewhat behind, together accounting for a further 24%.

In terms of the main suppliers, Indonesia, with a CAGR of +167.0%, recorded 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 2022, the average aluminium hydroxide import price amounted to $X per ton, picking up by 13% against the previous year. In general, import price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, aluminium hydroxide import price increased by +82.1% against 2016 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by 32% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+8.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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