South-Eastern Asia: Market for Zirconium Ores and Concentrates 2024

Market Size for Zirconium Ores and Concentrates in South-Eastern Asia

In 2023, the Southeast Asian zirconium ore and concentrate market increased by X% to $X, rising for the third consecutive year after two years of decline. Overall, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Zirconium Ores and Concentrates in South-Eastern Asia

In value terms, zirconium ore and concentrate production rose markedly to $X in 2023 estimated in export price. In general, production, however, recorded a notable increase. The pace of growth was the most pronounced in 2018 with an increase of X%. The level of production peaked at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.

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Exports of Zirconium Ores and Concentrates

Exports in South-Eastern Asia

In 2023, overseas shipments of zirconium ores and concentrates decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Overall, exports, however, recorded a modest expansion. The pace of growth was the most pronounced in 2022 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons, and then contracted dramatically in the following year.

In value terms, zirconium ore and concentrate exports fell dramatically to $X in 2023. Over the period under review, exports, however, showed tangible growth. The pace of growth appeared the most rapid in 2022 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X, and then plummeted in the following year.

Exports by Country

Indonesia was the main exporter of zirconium ores and concentrates in South-Eastern Asia, with the volume of exports resulting at X tons, which was approx. X% of total exports in 2023. Malaysia (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (X%). Thailand (X tons) followed a long way behind the leaders.

Exports from Indonesia increased at an average annual rate of X% from 2012 to 2023. At the same time, Malaysia (X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of X% from 2012-2023. By contrast, Thailand (X%) and Vietnam (X%) illustrated a downward trend over the same period. While the share of Malaysia (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Thailand (X p.p.) and Vietnam (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) remains the largest zirconium ore and concentrate supplier in South-Eastern Asia, comprising X% of total exports. The second position in the ranking was held by Malaysia ($X), with a X% share of total exports. It was followed by Vietnam, with an X% share.

In Indonesia, zirconium ore and concentrate exports increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Malaysia (X% per year) and Vietnam (X% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2023, picking up by X% against the previous year. Export price indicated a moderate increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, zirconium ore and concentrate export price decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2017 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2023, the export prices remained at a somewhat lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other leaders experienced more modest paces of growth.

Imports of Zirconium Ores and Concentrates

Imports in South-Eastern Asia

In 2023, imports of zirconium ores and concentrates in South-Eastern Asia expanded markedly to X tons, rising by X% compared with the previous year. In general, imports posted a mild increase. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2023, imports failed to regain momentum.

In value terms, zirconium ore and concentrate imports skyrocketed to $X in 2023. Overall, imports enjoyed a measured expansion. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports reached the maximum in 2023 and are likely to continue growth in years to come.

Imports by Country

Malaysia dominates imports structure, resulting at X tons, which was approx. X% of total imports in 2023. Vietnam (X tons) ranks second in terms of the total imports with a X% share, followed by Thailand (X%) and Singapore (X%). Indonesia (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to zirconium ore and concentrate imports into Malaysia stood at X%. At the same time, Singapore (X%) and Vietnam (X%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of X% from 2012-2023. By contrast, Thailand (X%) and Indonesia (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Malaysia, Vietnam and Singapore increased by X, X and X percentage points, respectively.

In value terms, Malaysia ($X) constitutes the largest market for imported zirconium ores and concentrates in South-Eastern Asia, comprising X% of total imports. The second position in the ranking was held by Vietnam ($X), with a X% share of total imports. It was followed by Thailand, with an X% share.

In Malaysia, zirconium ore and concentrate imports expanded at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Thailand (X% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2023, growing by X% against the previous year. Overall, the import price continues to indicate a mild expansion. The most prominent rate of growth was recorded in 2017 when the import price increased by X% against the previous year. The level of import peaked in 2023 and is likely to continue growth in the near future.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform