Indonesia: Sulphuric Acid Market 2023

Sulphuric Acid Market Size in Indonesia

The Indonesian sulphuric acid market declined to $X in 2021, approximately equating the previous year. In general, the total consumption indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +14.7% against 2015 indices. Sulphuric acid consumption peaked at $X in 2020, and then contracted modestly in the following year.

Sulphuric Acid Production in Indonesia

In value terms, sulphuric acid production declined to $X in 2021 estimated in export price. Over the period under review, production, however, saw strong growth. The growth pace was the most rapid in 2015 with an increase of 47%. Over the period under review, production attained the maximum level at $X in 2020, and then contracted in the following year.

Sulphuric Acid Exports

Exports from Indonesia

In 2021, approx. X tons of sulphuric acid and oleum were exported from Indonesia; with an increase of 65% compared with 2020. Overall, exports, however, continue to indicate a perceptible decrease. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, sulphuric acid exports surged to $X in 2021. Over the period under review, exports posted resilient growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The Philippines (X tons) was the main destination for sulphuric acid exports from Indonesia, with a approx. 99.9% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to the Philippines amounted to +7.4%.

In value terms, the Philippines ($X) also remains the key foreign market for sulphuric acid and oleum exports from Indonesia.

From 2012 to 2021, the average annual growth rate of value to the Philippines stood at +19.9%.

Export Prices by Country

In 2021, the average sulphuric acid export price amounted to $X per ton, shrinking by -16.7% against the previous year. Over the period under review, the export price, however, continues to indicate significant growth. The growth pace was the most rapid in 2013 an increase of 193%. The export price peaked at $X per ton in 2020, and then shrank significantly in the following year.

As there is only one major export destination, the average price level is determined by prices for the Philippines.

From 2012 to 2021, the rate of growth in terms of prices for the Philippines amounted to +11.6% per year.

Sulphuric Acid Imports

Imports into Indonesia

After two years of decline, purchases abroad of sulphuric acid and oleum increased by 340% to X tons in 2021. Overall, imports, however, showed a noticeable reduction. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, sulphuric acid imports skyrocketed to $X in 2021. In general, imports, however, saw a deep slump. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest sulphuric acid supplier to Indonesia, with a 49% share of total imports. Moreover, sulphuric acid imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), threefold. The third position in this ranking was taken by Japan (X tons), with a 17% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +22.7%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-17.1% per year) and Japan (-2.3% per year).

In value terms, China ($X) constituted the largest supplier of sulphuric acid and oleum to Indonesia, comprising 45% of total imports. The second position in the ranking was taken by South Korea ($X), with a 17% share of total imports. It was followed by Japan, with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +16.0%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-19.2% per year) and Japan (-1.0% per year).

Import Prices by Country

The average sulphuric acid import price stood at $X per ton in 2021, shrinking by -13.7% against the previous year. Over the period under review, the import price saw a noticeable descent. The pace of growth was the most pronounced in 2018 when the average import price increased by 74%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were the Philippines ($X per ton) and Japan ($X per ton), while the price for China ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+1.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

Frequently Asked Questions (FAQ) :