ASEAN: Market for Polyethylene in Primary Forms 2024

Market Size for Polyethylene in Primary Forms in ASEAN

In 2021, after two years of decline, there was significant growth in the ASEAN polyethylene in primary forms market, when its value increased by 23% to $X. Over the period under review, consumption, however, continues to indicate a slight setback. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Production of Polyethylene in Primary Forms in ASEAN

In value terms, polyethylene in primary forms production surged to $X in 2021 estimated in export price. In general, production recorded a deep reduction. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Exports of Polyethylene in Primary Forms

Exports in ASEAN

In 2021, overseas shipments of polyethylene in primary forms decreased by -14.2% to X tons, falling for the second consecutive year after three years of growth. The total export volume increased at an average annual rate of +1.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 16% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, polyethylene in primary forms exports rose significantly to $X in 2021. Over the period under review, exports showed a noticeable downturn. The most prominent rate of growth was recorded in 2018 with an increase of 23%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Thailand (X tons) and Singapore (X tons) represented roughly 75% of total exports in 2021. It was distantly followed by Malaysia (X tons), constituting a 19% share of total exports. Indonesia (X tons) held a minor share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Indonesia (with a CAGR of +6.9%), while the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) remains the largest polyethylene in primary forms supplier in ASEAN, comprising 62% of total exports. The second position in the ranking was held by Malaysia ($X), with a 30% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Singapore was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (+4.3% per year) and Indonesia (+5.2% per year).

Export Prices by Country

In 2021, the export price in ASEAN amounted to $X per ton, jumping by 28% against the previous year. Over the period under review, the export price, however, continues to indicate a deep setback. Over the period under review, the export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (-0.6%), while the other leaders experienced a decline in the export price figures.

Imports of Polyethylene in Primary Forms

Imports in ASEAN

In 2021, purchases abroad of polyethylene in primary forms decreased by -7.7% to X tons, falling for the second year in a row after six years of growth. Total imports indicated a notable increase from 2012 to 2021: its volume increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -20.9% against 2019 indices. The pace of growth appeared the most rapid in 2018 when imports increased by 18%. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, polyethylene in primary forms imports expanded sharply to $X in 2021. The total import value increased at an average annual rate of +1.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 25% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Vietnam (X tons) and Singapore (X tons) were the largest importers of polyethylene in primary forms in ASEAN, together making up 59% of total imports. Malaysia (X tons) held an 18% share (based on physical terms) of total imports, which put it in second place, followed by Indonesia (16%) and the Philippines (4.6%). Myanmar (X tons) held a relatively small share of total imports.

From 2012 to 2021, the biggest increases were recorded for Myanmar (with a CAGR of +34.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest polyethylene in primary forms importing markets in ASEAN were Vietnam ($X), Singapore ($X) and Indonesia ($X), together comprising 75% of total imports. Malaysia, the Philippines and Myanmar lagged somewhat behind, together accounting for a further 24%.

In terms of the main importing countries, Myanmar, with a CAGR of +27.2%, saw the highest growth rate of 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

The import price in ASEAN stood at $X per ton in 2021, growing by 22% against the previous year. In general, the import price, however, recorded a noticeable decrease. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Indonesia ($X per ton) and the Philippines ($X per ton), while Singapore ($X per ton) and Myanmar ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (-0.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform