Asia: Salt Market 2024

Salt Market Size in Asia

In 2023, the Asian salt market decreased by X% to $X for the first time since 2019, thus ending a three-year rising trend. In general, consumption, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the market reached the maximum level at $X in 2022, and then reduced in the following year.

Salt Production in Asia

In value terms, salt production contracted to $X in 2023 estimated in export price. In general, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The level of production peaked at $X in 2022, and then reduced in the following year.

Salt Exports

Exports in Asia

In 2023, overseas shipments of salt and pure sodium chloride increased by X% to X tons for the first time since 2019, thus ending a three-year declining trend. Overall, exports showed strong growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, salt exports totaled $X in 2023. In general, exports posted resilient growth. The growth pace was the most rapid in 2017 when exports increased by X%. Over the period under review, the exports reached the maximum in 2023 and are likely to continue growth in the immediate term.

Exports by Country

India prevails in exports structure, recording X tons, which was approx. X% of total exports in 2023. It was distantly followed by China (X tons), making up an X% share of total exports. Kazakhstan (X tons), Turkey (X tons), Pakistan (X tons) and Thailand (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to salt exports from India stood at X%. At the same time, Turkey (X%), Kazakhstan (X%), Thailand (X%), Pakistan (X%) and China (X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2023. India (X p.p.), Kazakhstan (X p.p.) and Turkey (X p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest salt supplier in Asia, comprising X% of total exports. The second position in the ranking was held by China ($X), with a X% share of total exports. It was followed by Turkey, with a X% share.

In India, salt exports expanded at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: China (X% per year) and Turkey (X% per year).

Export Prices by Country

In 2023, the export price in Asia amounted to $X per ton, which is down by X% against the previous year. Over the period under review, the export price saw a slight shrinkage. The pace of growth appeared the most rapid in 2022 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then fell remarkably in the following year.

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 Pakistan ($X per ton), while India ($X per ton) was amongst the lowest.

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

Salt Imports

Imports in Asia

In 2023, imports of salt and pure sodium chloride in Asia surged to X tons, picking up by X% against the previous year's figure. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2023, imports remained at a lower figure.

In value terms, salt imports expanded significantly to $X in 2023. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, China (X tons), distantly followed by Japan (X tons), Indonesia (X tons) and South Korea (X tons) were the major importers of salt and pure sodium chloride, together comprising X% of total imports. The following importers - the Philippines (X tons), Qatar (X tons) and Taiwan (Chinese) (X tons) - together made up X% of total imports.

From 2012 to 2023, the biggest increases were recorded for China (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest salt importing markets in Asia were China ($X), Japan ($X) and Indonesia ($X), together comprising X% of total imports. South Korea, the Philippines, Taiwan (Chinese) and Qatar lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, the Philippines, 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 more modest paces of growth.

Import Prices by Country

In 2023, the import price in Asia amounted to $X per ton, declining by X% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. Over the period under review, import prices reached the maximum at $X per ton in 2022, and then reduced in the following year.

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

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

Source: IndexBox Platform