Eastern Asia: Salt Market Overview 2020

Salt Market Size in Eastern Asia

In 2019, the East Asian salt market increased by X% to $X, rising for the third consecutive year after three years of decline. The market value increased at an average annual rate of +X% from 2007 to 2019; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2008 when the market value increased by X% year-to-year. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2019, consumption failed to regain the momentum.

Salt Production in Eastern Asia

In value terms, salt production expanded slightly to $X in 2019 estimated in export prices. The total production indicated a moderate expansion from 2007 to 2019: its value increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, production increased by +X% against 2016 indices. The most prominent rate of growth was recorded in 2008 with an increase of X% y-o-y. The level of production peaked at $X in 2013; however, from 2014 to 2019, production remained at a lower figure.

Production By Country in Eastern Asia

The country with the largest volume of salt production was China (X tonnes), accounting for X% of total volume.

In China, salt production remained relatively stable over the period from 2007-2019.

Salt Exports

Exports in Eastern Asia

In 2019, overseas shipments of salt and pure sodium chloride increased by X% to X tonnes, rising for the third consecutive year after three years of decline. Total exports indicated buoyant growth from 2007 to 2019: its volume increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, exports increased by +X% against 2016 indices. The pace of growth was the most pronounced in 2009 with an increase of X% y-o-y. Over the period under review, exports attained the maximum in 2019 and are likely to see gradual growth in the immediate term.

In value terms, salt exports expanded notably to $X in 2019. In general, exports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2008 with an increase of X% against the previous year. The level of export peaked in 2019 and is expected to retain growth in the near future.

Exports by Country

China dominates salt exports structure, reaching X tonnes, which was near X% of total exports in 2019. The following exporters - South Korea (X tonnes) and Taiwan, Chinese (X tonnes) - each accounted for a X% share of total exports.

Exports from China increased at an average annual rate of +X% from 2007 to 2019. At the same time, Taiwan, Chinese (+X%) and South Korea (+X%) displayed positive paces of growth. Moreover, Taiwan, Chinese emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +X% from 2007-2019. From 2007 to 2019, the share of China and Taiwan, Chinese increased by +X% and +X% percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest salt supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was occupied by South Korea ($X), with a X% share of total exports.

In China, salt exports increased at an average annual rate of +X% over the period from 2007-2019. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (+X% per year) and Taiwan, Chinese (+X% per year).

Export Prices by Country

In 2019, the salt export price in Eastern Asia amounted to $X per tonne, surging by X% against the previous year. Over the last twelve-year period, it increased at an average annual rate of +X%. The pace of growth appeared the most rapid in 2008 when the export price increased by X% year-to-year. Over the period under review, export prices attained the peak figure at $X per tonne in 2012; however, from 2013 to 2019, export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2019, the country with the highest price was South Korea ($X per tonne), while China ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by South Korea, while the other leaders experienced mixed trends in the export price figures.

Salt Imports

Imports in Eastern Asia

In 2019, purchases abroad of salt and pure sodium chloride increased by X% to X tonnes, rising for the third consecutive year after three years of decline. Total imports indicated a notable expansion from 2007 to 2019: its volume increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, imports increased by +X% against 2016 indices. The pace of growth appeared the most rapid in 2010 with an increase of X% y-o-y. Over the period under review, imports attained the peak figure in 2019 and are expected to retain growth in years to come.

In value terms, salt imports expanded sharply to $X in 2019. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2010 with an increase of X% y-o-y. The level of import peaked at $X in 2013; however, from 2014 to 2019, imports stood at a somewhat lower figure.

Imports by Country

China was the key importing country with an import of about X tonnes, which finished at X% of total imports. Japan (X tonnes) ranks second in terms of the total imports with a X% share, followed by South Korea (X%) and Taiwan, Chinese (X%).

China was also the fastest-growing in terms of the salt and pure sodium chloride imports, with a CAGR of +X% from 2007 to 2019. At the same time, South Korea (+X%) displayed positive paces of growth. By contrast, Japan (-X%) and Taiwan, Chinese (-X%) illustrated a downward trend over the same period. From 2007 to 2019, the share of China and South Korea increased by +X% and +X% percentage points, while Taiwan, Chinese (-X p.p.) and Japan (-X p.p.) saw their share reduced.

In value terms, China ($X) constitutes the largest market for imported salt and pure sodium chloride in Eastern Asia, comprising X% of total imports. The second position in the ranking was occupied by South Korea ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

In China, salt imports expanded at an average annual rate of +X% over the period from 2007-2019. In the other countries, the average annual rates were as follows: South Korea (+X% per year) and Japan (-X% per year).

Import Prices by Country

The salt import price in Eastern Asia stood at $X per tonne in 2019, surging by X% against the previous year. Over the period under review, the import price, however, continues to indicate a mild descent. The most prominent rate of growth was recorded in 2010 an increase of X% y-o-y. Over the period under review, import prices hit record highs at $X per tonne in 2008; however, from 2009 to 2019, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2019, the country with the highest price was South Korea ($X per tonne), while Taiwan, Chinese ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by South Korea, while the other leaders experienced a decline in the import price figures.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for salt and pure sodium chloride in Eastern Asia?

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China (77M tonnes) constituted the country with the largest volume of salt consumption, comprising approx. 88% of total volume. Moreover, salt consumption in China exceeded the figures recorded by the second-largest consumer, Japan (5.1M tonnes), more than tenfold.

What are the largest producers of salt and pure sodium chloride in Eastern Asia?

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The country with the largest volume of salt production was China (68M tonnes), comprising approx. 98% of total volume.

What are the leading exporters of salt and pure sodium chloride in Eastern Asia?

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In value terms, China ($117M) remains the largest salt supplier in Eastern Asia, comprising 87% of total exports. The second position in the ranking was occupied by South Korea ($11M), with a 8.1% share of total exports.

What are the leading importers of salt and pure sodium chloride in Eastern Asia?

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In value terms, China ($419M) constitutes the largest market for imported salt and pure sodium chloride in Eastern Asia, comprising 59% of total imports. The second position in the ranking was occupied by South Korea ($167M), with a 23% share of total imports. It was followed by Japan, with a 13% share.

What is the average export price for salt and pure sodium chloride in Eastern Asia?

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In 2019, the salt export price in Eastern Asia amounted to $76 per tonne, with an increase of 3.9% against the previous year.

What is the average import price for salt and pure sodium chloride in Eastern Asia?

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The salt import price in Eastern Asia stood at $34 per tonne in 2019, with an increase of 4.8% against the previous year.