ASEAN: Lithium Carbonate Market 2024

Lithium Carbonate Market Size in ASEAN

After two years of growth, the ASEAN lithium carbonate market decreased by X% to $X in 2023. In general, consumption, however, saw a perceptible descent. The level of consumption peaked at $X in 2018; however, from 2019 to 2023, consumption failed to regain momentum.

Lithium Carbonate Production in ASEAN

In value terms, lithium carbonate production shrank significantly to $X in 2023 estimated in export price. Over the period under review, production, however, saw a prominent expansion. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2023, production growth remained at a somewhat lower figure.

Lithium Carbonate Exports

Exports in ASEAN

In 2023, the amount of lithium carbonates exported in ASEAN contracted remarkably to X tons, with a decrease of X% on the year before. In general, exports, however, enjoyed a significant expansion. The pace of growth appeared the most rapid in 2016 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2017 to 2023, the growth of the exports failed to regain momentum.

In value terms, lithium carbonate exports reduced rapidly to $X in 2023. Over the period under review, exports, however, saw strong growth. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

In 2023, Malaysia (X tons) was the major exporter of lithium carbonates, committing X% of total exports. It was distantly followed by Thailand (X tons), committing a X% share of total exports. Singapore (X tons) held a relatively small 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%) 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, Singapore (X%) illustrated a downward trend over the same period. Malaysia (X p.p.) and Thailand (X p.p.) significantly strengthened its position in terms of the total exports, while Singapore saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, the largest lithium carbonate supplying countries in ASEAN were Malaysia ($X), Thailand ($X) and Singapore ($X), with a combined X% share of total exports.

Thailand, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2023, the export price in ASEAN amounted to $X per ton, stabilizing at the previous year. Over the period under review, the export price showed a abrupt downturn. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2013; however, from 2014 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 Thailand (X%), while the other leaders experienced mixed trends in the export price figures.

Lithium Carbonate Imports

Imports in ASEAN

In 2023, supplies from abroad of lithium carbonates increased by X% to X tons, rising for the third year in a row after two years of decline. In general, imports, however, saw a perceptible contraction. The growth pace was the most rapid in 2014 with an increase of X%. The volume of import peaked at X tons in 2015; however, from 2016 to 2023, imports remained at a lower figure.

In value terms, lithium carbonate imports reduced to $X in 2023. Overall, imports continue to indicate a strong expansion. The growth pace was the most rapid in 2014 with an increase of X%. The level of import peaked at $X in 2018; however, from 2019 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, Vietnam (X tons), Singapore (X tons) and Malaysia (X tons) represented the key importer of lithium carbonates in ASEAN, constituting X% of total import. It was distantly followed by Indonesia (X tons), mixing up a X% share of total imports. Thailand (X tons) followed a long way behind the leaders.

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

In value terms, the largest lithium carbonate importing markets in ASEAN were Malaysia ($X), Vietnam ($X) and Singapore ($X), with a combined X% share of total imports.

Singapore, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main importing countries 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 ASEAN amounted to $X per ton, shrinking by X% against the previous year. In general, the import price, however, showed a resilient increase. 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 at $X per ton in 2018; however, from 2019 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Thailand ($X per ton), while Singapore ($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