Peroxides Of Sodium Market

The article discusses the downward trend in the global market for peroxides of sodium, with a forecasted decline in consumption and production over the next eight years. Various countries, such as Democratic Peoples Republic of Korea, Taiwan, and Jordan, play a significant role in consumption and production. The United States is a major exporter of peroxides of sodium, while China is the largest supplier. The average export price has shown fluctuations over the years, with some countries experiencing growth in prices while others have seen a decline.

Market Forecast

Depressed by shrinking demand for peroxides of sodium worldwide, the market is expected to continue its downward consumption trend over the next eight years. The performance of the market is forecast to contract with an anticipated CAGR of -1.9% for the period from 2022 to 2030, which is projected to depress the market volume to 18K tons by the end of 2030.

In value terms, the market is forecast to contract with an anticipated CAGR of +0.0% for the period from 2022 to 2030, which is projected to bring the market value to $113M (in nominal prices) by the end of 2030.

Consumption

World Consumption of Peroxides Of Sodium Or Potassium

In 2022, consumption of peroxides of sodium or potassium increased by 2.1% to 21K tons, rising for the second year in a row after three years of decline. Over the period under review, consumption, however, continues to indicate a slight decline. As a result, consumption reached the peak volume of 38K tons. From 2014 to 2022, the growth of the global consumption remained at a lower figure.

The global peroxides of sodium market value fell modestly to $113M in 2022, remaining stable against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a relatively flat trend pattern. Global consumption peaked at $137M in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Democratic People's Republic of Korea (3.9K tons), Taiwan (Chinese) (3K tons) and Jordan (2.4K tons), together comprising 44% of global consumption.

From 2012 to 2022, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +35.9%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest peroxides of sodium markets worldwide were Democratic People's Republic of Korea ($28M), Russia ($26M) and Jordan ($15M), together comprising 61% of the global market. Taiwan (Chinese), Israel, Malaysia, the United States, South Africa, Singapore, India, Democratic Republic of the Congo, Kuwait and Cote d'Ivoire lagged somewhat behind, together comprising a further 20%.

Taiwan (Chinese), with a CAGR of +34.9%, saw the highest rates of growth with regard to market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of peroxides of sodium per capita consumption in 2022 were Jordan (230 kg per 1000 persons), Democratic People's Republic of Korea (152 kg per 1000 persons) and Israel (145 kg per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Taiwan (Chinese) (with a CAGR of +35.6%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Peroxides Of Sodium Or Potassium

In 2022, after five years of growth, there was decline in production of peroxides of sodium or potassium, when its volume decreased by -1% to 20K tons. The total output volume increased at an average annual rate of +1.0% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 4.6% against the previous year. Over the period under review, global production attained the maximum volume at 21K tons in 2021, and then fell modestly in the following year.

In value terms, peroxides of sodium production declined to $103M in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 15%. As a result, production reached the peak level of $125M. From 2015 to 2022, global production growth remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were Democratic People's Republic of Korea (3.9K tons), Taiwan (Chinese) (3K tons) and Jordan (2.4K tons), together accounting for 45% of global production. The United States, Israel, Russia, South Africa, Kuwait, the Netherlands, India, Singapore and Cote d'Ivoire lagged somewhat behind, together accounting for a further 42%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Russia (with a CAGR of +6.1%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Peroxides Of Sodium Or Potassium

In 2022, overseas purchases of peroxides of sodium or potassium increased by 28% to 4.7K tons, rising for the second year in a row after three years of decline. Over the period under review, imports, however, showed a abrupt setback. The most prominent rate of growth was recorded in 2013 when imports increased by 60%. As a result, imports attained the peak of 24K tons. From 2014 to 2022, the growth of global imports remained at a lower figure.

In value terms, peroxides of sodium imports totaled $17M in 2022. Overall, imports, however, showed a deep setback. The pace of growth appeared the most rapid in 2021 with an increase of 39% against the previous year. Global imports peaked at $40M in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports By Country

In 2022, Malaysia (1.2K tons) was the major importer of peroxides of sodium or potassium, committing 26% of total imports. Democratic Republic of the Congo (375 tons) held an 8% share (based on physical terms) of total imports, which put it in second place, followed by Slovakia (6.7%), the Philippines (6.4%), Canada (6.2%), Iraq (5.7%) and the United States (4.7%). The following importers - Senegal (201 tons), Togo (143 tons), Cyprus (136 tons), Spain (128 tons) and Denmark (81 tons) - together made up 15% of total imports.

From 2012 to 2022, average annual rates of growth with regard to peroxides of sodium imports into Malaysia stood at +8.5%. At the same time, the Philippines (+65.4%), Togo (+28.1%), the United States (+22.1%), Iraq (+19.2%), Denmark (+19.0%), Spain (+18.6%), Democratic Republic of the Congo (+12.8%) and Slovakia (+9.0%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in the world, with a CAGR of +65.4% from 2012-2022. Cyprus experienced a relatively flat trend pattern. By contrast, Canada (-6.7%) and Senegal (-7.9%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Malaysia, Democratic Republic of the Congo, the Philippines, Slovakia, Iraq, the United States, Togo, Cyprus, Spain, Canada and Denmark increased by +22, +7.3, +6.4, +5.9, +5.4, +4.5, +3, +2.9, +2.6, +2.4 and +1.6 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest peroxides of sodium importing markets worldwide were the United States ($2.4M), Malaysia ($1.3M) and Canada ($913K), with a combined 28% share of global imports. Democratic Republic of the Congo, the Philippines, Senegal, Iraq, Spain, Slovakia, Cyprus, Denmark and Togo lagged somewhat behind, together comprising a further 12%.

Among the main importing countries, the Philippines, with a CAGR of +57.9%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average peroxides of sodium import price amounted to $3,588 per ton, with a decrease of -17.9% against the previous year. In general, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 an increase of 88%. Global import price peaked at $4,370 per ton in 2021, and then shrank significantly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($11,128 per ton), while Slovakia ($325 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+17.5%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Peroxides Of Sodium Or Potassium

In 2022, approx. 4.2K tons of peroxides of sodium or potassium were exported worldwide; with an increase of 9.7% on the year before. In general, exports, however, showed a drastic downturn. The most prominent rate of growth was recorded in 2016 when exports increased by 98% against the previous year. The global exports peaked at 8.4K tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, peroxides of sodium exports contracted to $12M in 2022. Over the period under review, exports, however, showed a deep slump. The pace of growth appeared the most rapid in 2016 when exports increased by 42% against the previous year. Over the period under review, the global exports reached the peak figure at $21M in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports By Country

The United States was the major exporter of peroxides of sodium or potassium in the world, with the volume of exports resulting at 1.6K tons, which was near 38% of total exports in 2022. It was distantly followed by the Netherlands (748 tons), Kuwait (489 tons), Zambia (265 tons) and South Africa (241 tons), together generating a 41% share of total exports. The United Arab Emirates (172 tons), China (112 tons) and Ghana (70 tons) took a little share of total exports.

The United States experienced a relatively flat trend pattern with regard to volume of exports of peroxides of sodium or potassium. At the same time, Zambia (+81.8%), the United Arab Emirates (+54.2%), Kuwait (+35.6%), Ghana (+4.7%) and China (+2.2%) displayed positive paces of growth. Moreover, Zambia emerged as the fastest-growing exporter exported in the world, with a CAGR of +81.8% from 2012-2022. By contrast, South Africa (-3.5%) and the Netherlands (-8.6%) illustrated a downward trend over the same period. While the share of the United States (+21 p.p.), Kuwait (+12 p.p.), Zambia (+6.2 p.p.), the United Arab Emirates (+4 p.p.), Ghana (+1.6 p.p.), South Africa (+1.6 p.p.) and China (+1.6 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of the Netherlands (-4.3 p.p.) displayed negative dynamics.

In value terms, China ($3.1M) remains the largest peroxides of sodium supplier worldwide, comprising 25% of global exports. The second position in the ranking was taken by the United States ($1.3M), with an 11% share of global exports. It was followed by the Netherlands, with a 3.4% share.

In China, peroxides of sodium exports expanded at an average annual rate of +6.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (-11.1% per year) and the Netherlands (-15.1% per year).

Export Prices By Country

In 2022, the average peroxides of sodium export price amounted to $2,878 per ton, with a decrease of -15.7% against the previous year. Overall, export price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, peroxides of sodium export price increased by +41.5% against 2020 indices. The growth pace was the most rapid in 2021 when the average export price increased by 68%. The global export price peaked at $3,990 per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($27,262 per ton), while Kuwait ($208 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.5%), while the other global leaders experienced a decline in the export price figures.

Source: IndexBox Market Intelligence Platform