ASEAN: Market for Carnallite, Sylvite and Other Crude Natural Potassium Salts, Potassium Magnesium Sulphate and Mixtures of Potassic Fertilisers 2024

Market Size for Carnallite, Sylvite and Other Crude Natural Potassium Salts, Potassium Magnesium Sulphate and Mixtures of Potassic Fertilisers in ASEAN

In 2023, after two years of growth, there was significant decline in the ASEAN market for carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers, when its value decreased by X% to $X. Overall, consumption continues to indicate a deep downturn. As a result, consumption attained the peak level of $X, and then reduced remarkably in the following year.

Production of Carnallite, Sylvite and Other Crude Natural Potassium Salts, Potassium Magnesium Sulphate and Mixtures of Potassic Fertilisers in ASEAN

In value terms, production of carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers shrank modestly to $X in 2023 estimated in export price. Overall, production continues to indicate a temperate increase. The pace of growth appeared the most rapid in 2013 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2023, production stood at a somewhat lower figure.

Exports of Carnallite, Sylvite and Other Crude Natural Potassium Salts, Potassium Magnesium Sulphate and Mixtures of Potassic Fertilisers

Exports in ASEAN

In 2023, approx. X tons of carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers were exported in ASEAN; increasing by X% on the previous year's figure. Over the period under review, exports continue to indicate a resilient expansion. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. The volume of export peaked in 2023 and is likely to see gradual growth in the near future.

In value terms, exports of carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers skyrocketed to $X in 2023. In general, exports enjoyed measured growth. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports of hit record highs in 2023 and are likely to continue growth in the immediate term.

Exports by Country

Malaysia was the main exporter of carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers in ASEAN, with the volume of exports reaching X tons, which was near X% of total exports in 2023. It was distantly followed by Indonesia (X tons) and Vietnam (X tons), together constituting a X% share of total exports. The following exporters - Lao People's Democratic Republic (X tons) and Thailand (X tons) - each amounted to an X% share of total exports.

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

In value terms, Malaysia ($X) remains the largest carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers supplier in ASEAN, comprising X% of total exports. The second position in the ranking was taken by Vietnam ($X), with an X% share of total exports. It was followed by Indonesia, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Malaysia stood at X%. In the other countries, the average annual rates were as follows: Vietnam (X% per year) and Indonesia (X% per year).

Export Prices by Country

In 2023, the export price in ASEAN amounted to $X per ton, rising by X% against the previous year. Overall, the export price, however, recorded a mild decline. The growth pace was the most rapid in 2022 an increase of X%. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2023, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

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

Imports of Carnallite, Sylvite and Other Crude Natural Potassium Salts, Potassium Magnesium Sulphate and Mixtures of Potassic Fertilisers

Imports in ASEAN

In 2023, after two years of growth, there was significant decline in purchases abroad of carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers, when their volume decreased by X% to X tons. Over the period under review, imports showed a abrupt shrinkage. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2022, and then dropped significantly in the following year.

In value terms, imports of carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers declined rapidly to $X in 2023. In general, imports saw a abrupt decline. The most prominent rate of growth was recorded in 2022 with an increase of X%. As a result, imports reached the peak of $X, and then contracted sharply in the following year.

Imports by Country

In 2023, Malaysia (X tons) represented the main importer of carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers, creating X% of total imports. Indonesia (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Cambodia (X%), Vietnam (X%), the Philippines (X%) and Myanmar (X%). Lao People's Democratic Republic (X tons) took a little share of total imports.

Imports into Malaysia decreased at an average annual rate of X% from 2012 to 2023. At the same time, Lao People's Democratic Republic (X%), Myanmar (X%), the Philippines (X%) and Cambodia (X%) displayed positive paces of growth. Moreover, Lao People's Democratic Republic emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2023. By contrast, Vietnam (X%) and Indonesia (X%) illustrated a downward trend over the same period. Cambodia (X p.p.), the Philippines (X p.p.), Indonesia (X p.p.), Myanmar (X p.p.), Vietnam (X p.p.) and Lao People's Democratic Republic (X p.p.) significantly strengthened its position in terms of the total imports, while Malaysia saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, Malaysia ($X) constitutes the largest market for imported carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers in ASEAN, comprising X% of total imports. The second position in the ranking was taken by Indonesia ($X), with a X% share of total imports. It was followed by Vietnam, with a X% share.

In Malaysia, imports of carnallite, sylvite and other crude natural potassium salts, potassium magnesium sulphate and mixtures of potassic fertilisers contracted by 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: Indonesia (X% per year) and Vietnam (X% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2023, remaining constant against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when the import price increased by X%. As a result, import price reached the peak level of $X per ton, leveling off in the following year.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform