ASEAN: Iron Oxide Pigment Market 2024

Iron Oxide Pigment Market Size in ASEAN

The ASEAN iron oxide pigment market declined slightly to $X in 2023, falling by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2023, consumption stood at a somewhat lower figure.

Iron Oxide Pigment Production in ASEAN

In value terms, iron oxide pigment production stood at $X in 2023 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of X%. As a result, production attained the peak level of $X. From 2020 to 2023, production growth remained at a lower figure.

Iron Oxide Pigment Exports

Exports in ASEAN

In 2023, exports of iron oxide pigments in ASEAN declined modestly to X tons, reducing by X% on the year before. Overall, exports recorded a significant decline. The pace of growth was the most pronounced in 2021 with an increase of X%. The volume of export peaked at X tons in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

In value terms, iron oxide pigment exports stood at $X in 2023. Over the period under review, exports showed a abrupt curtailment. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Vietnam was the main exporting country with an export of around X tons, which amounted to X% of total exports. Indonesia (X tons) took the second position in the ranking, distantly followed by Malaysia (X tons) and Thailand (X tons). All these countries together held approx. X% share of total exports. Singapore (X tons) held a relatively small share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Vietnam (with a CAGR of X%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Vietnam ($X) remains the largest iron oxide pigment supplier in ASEAN, comprising X% of total exports. The second position in the ranking was taken by Thailand ($X), with a X% share of total exports. It was followed by Singapore, with a X% share.

In Vietnam, iron oxide pigment 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: Thailand (X% per year) and Singapore (X% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2023, picking up by X% against the previous year. Over the period under review, the export price showed a remarkable increase. The most prominent rate of growth was recorded in 2014 when the export price increased by X%. The level of export peaked at $X per ton in 2016; however, from 2017 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Malaysia ($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 export price figures.

Iron Oxide Pigment Imports

Imports in ASEAN

In 2023, overseas purchases of iron oxide pigments decreased by X% to X tons, falling for the second year in a row after two years of growth. In general, imports recorded a slight slump. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2023, imports remained at a lower figure.

In value terms, iron oxide pigment imports dropped to $X in 2023. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of import peaked at $X in 2022, and then declined in the following year.

Imports by Country

In 2023, Indonesia (X tons), Vietnam (X tons), Malaysia (X tons), Thailand (X tons) and the Philippines (X tons) was the key importer of iron oxide pigments in ASEAN, creating X% of total import.

From 2012 to 2023, the biggest increases were recorded for Vietnam (with a CAGR of X%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest iron oxide pigment importing markets in ASEAN were Vietnam ($X), Indonesia ($X) and Malaysia ($X), together comprising X% of total imports.

In terms of the main importing countries, Vietnam, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2023, approximately mirroring the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The growth pace was the most rapid in 2022 when the import price increased by X%. As a result, import price reached the peak level of $X per ton, and then reduced in the following year.

Average prices varied noticeably amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Vietnam ($X per ton) and Thailand ($X per ton), while Indonesia ($X per ton) and the Philippines ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform