Other Carbonates Market

The article provides an in-depth analysis of the other carbonates market worldwide, outlining expected trends from 2022 to 2030. The forecast includes a projected increase in consumption volume and value, with key insights on major consuming countries such as China, the United States, and India. Production and import data indicate significant growth, particularly in countries like China and South Korea. Export trends are also covered, with Chile emerging as the largest exporter of other carbonates. Price variations and growth rates across different countries are highlighted, showing a positive outlook for the market in the immediate term.

Market Forecast

Driven by increasing demand for other carbonates worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.2% for the period from 2022 to 2030, which is projected to bring the market volume to 7.6M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.6% for the period from 2022 to 2030, which is projected to bring the market value to $13.1B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Other Carbonates

In 2022, consumption of other carbonates increased by 22% to 7.4M tons, rising for the second year in a row after three years of decline. The total consumption volume increased at an average annual rate of +3.1% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. As a result, consumption reached the peak volume and is likely to continue growth in the immediate term.

The global other carbonates market revenue soared to $10.7B in 2022, surging by 24% 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). The market value increased at an average annual rate of +4.3% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Consumption By Country

China (2.6M tons) constituted the country with the largest volume of other carbonates consumption, comprising approx. 36% of total volume. Moreover, other carbonates consumption in China exceeded the figures recorded by the second-largest consumer, the United States (644K tons), fourfold. India (617K tons) ranked third in terms of total consumption with an 8.3% share.

From 2012 to 2022, the average annual growth rate of volume in China totaled +7.3%. The remaining consuming countries recorded the following average annual rates of consumption growth: the United States (-0.8% per year) and India (+4.5% per year).

In value terms, China ($2.4B), South Korea ($1.3B) and the United States ($825M) constituted the countries with the highest levels of market value in 2022, together accounting for 43% of the global market.

In terms of the main consuming countries, South Korea, with a CAGR of +20.9%, recorded the highest rates of growth with regard to market size 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 other carbonates per capita consumption in 2022 were South Korea (5 kg per person), Poland (4.9 kg per person) and Japan (3 kg per person).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Poland (with a CAGR of +11.3%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Other Carbonates

In 2022, production of other carbonates increased by 15% to 7.2M tons, rising for the second consecutive year after three years of decline. The total output volume increased at an average annual rate of +2.1% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. As a result, production reached the peak volume and is likely to continue growth in the immediate term.

In value terms, other carbonates production fell modestly to $8.4B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.7% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2017 when the production volume increased by 11% against the previous year. Over the period under review, global production attained the peak level at $9.9B in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were China (2M tons), Chile (1.2M tons) and the United States (548K tons), with a combined 52% share of global production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Chile (with a CAGR of +29.7%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Other Carbonates

In 2022, approx. 3.2M tons of other carbonates were imported worldwide; jumping by 96% on 2021 figures. In general, imports enjoyed a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, other carbonates imports skyrocketed to $12.6B in 2022. Over the period under review, imports recorded significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports By Country

China represented the key importing country with an import of about 1.1M tons, which amounted to 35% of total imports. South Korea (304K tons) took a 9.5% share (based on physical terms) of total imports, which put it in second place, followed by Japan (6.6%) and the United States (6%). India (118K tons), Thailand (84K tons), Poland (77K tons), Spain (73K tons), France (64K tons), the Netherlands (63K tons), Russia (61K tons), Germany (60K tons) and Italy (58K tons) held a relatively small share of total imports.

China was also the fastest-growing in terms of the other carbonates imports, with a CAGR of +46.2% from 2012 to 2022. At the same time, South Korea (+17.3%), Japan (+14.4%), the United States (+11.7%), Russia (+9.5%), Thailand (+7.9%), India (+7.8%), the Netherlands (+7.7%), Poland (+5.6%), France (+5.4%), Germany (+2.6%) and Italy (+2.5%) displayed positive paces of growth. Spain experienced a relatively flat trend pattern. While the share of China (+33 p.p.), South Korea (+4.6 p.p.) and Japan (+2.2 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of Italy (-1.8 p.p.), Germany (-1.9 p.p.) and Spain (-3.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($6.8B) constitutes the largest market for imported other carbonates worldwide, comprising 54% of global imports. The second position in the ranking was held by South Korea ($1.8B), with a 15% share of global imports. It was followed by Japan, with a 9.4% share.

In China, other carbonates imports expanded at an average annual rate of +54.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: South Korea (+32.3% per year) and Japan (+24.6% per year).

Import Prices By Country

In 2022, the average other carbonates import price amounted to $3,956 per ton, surging by 112% against the previous year. In general, the import price showed a strong expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($6,107 per ton), while Thailand ($555 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+16.8%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Other Carbonates

In 2022, shipments abroad of other carbonates increased by 63% to 3M tons, rising for the second year in a row after two years of decline. Over the period under review, total exports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +77.3% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, other carbonates exports soared to $12B in 2022. In general, exports posted a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports By Country

Chile represented the largest exporting country with an export of about 1.1M tons, which accounted for 39% of total exports. It was distantly followed by China (463K tons), Poland (243K tons), Germany (234K tons) and South Korea (210K tons), together committing a 39% share of total exports. Belgium (101K tons), the United States (97K tons), Russia (78K tons), Argentina (63K tons) and France (46K tons) followed a long way behind the leaders.

Exports from Chile increased at an average annual rate of +35.6% from 2012 to 2022. At the same time, France (+37.1%), Argentina (+21.0%), Belgium (+18.5%), South Korea (+10.1%), Russia (+3.9%), the United States (+3.5%), Germany (+2.2%) and China (+1.4%) displayed positive paces of growth. Moreover, France emerged as the fastest-growing exporter exported in the world, with a CAGR of +37.1% from 2012-2022. By contrast, Poland (-5.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Chile, Belgium, South Korea and Argentina increased by +35, +2.3, +2 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Chile ($7.8B) remains the largest other carbonates supplier worldwide, comprising 65% of global exports. The second position in the ranking was taken by China ($1.1B), with a 9.6% share of global exports. It was followed by Argentina, with a 5.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Chile amounted to +41.6%. In the other countries, the average annual rates were as follows: China (+14.4% per year) and Argentina (+31.3% per year).

Export Prices By Country

In 2022, the average other carbonates export price amounted to $4,045 per ton, rising by 148% against the previous year. Overall, the export price saw a resilient increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Argentina ($10,719 per ton), while Poland ($461 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+12.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform