ASEAN: Polyethylene Binder Market 2024

Polyethylene Binder Market Size in ASEAN

The ASEAN polyethylene binder market declined modestly to $X in 2022, with a decrease of -3.2% against the previous year. The total consumption indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +11.6% against 2020 indices. Over the period under review, the market attained the maximum level at $X in 2021, and then fell in the following year.

Polyethylene Binder Production in ASEAN

In value terms, polyethylene binder production reached $X in 2022 estimated in export price. The total production indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.4% against 2020 indices. The pace of growth appeared the most rapid in 2017 with an increase of 22%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Polyethylene Binder Exports

Exports in ASEAN

In 2022, after three years of growth, there was decline in overseas shipments of polyethylene or polypropylene binder or baler (agricultural) twines, when their volume decreased by -3.6% to X tons. In general, exports, however, continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2019 with an increase of 70% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2021, and then reduced slightly in the following year.

In value terms, polyethylene binder exports shrank to $X in 2022. Over the period under review, exports, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 47% against the previous year. The level of export peaked at $X in 2021, and then shrank in the following year.

Exports by Country

Vietnam represented the main exporter of polyethylene or polypropylene binder or baler (agricultural) twines in ASEAN, with the volume of exports resulting at X tons, which was near 81% of total exports in 2022. It was distantly followed by Thailand (X tons), comprising an 18% share of total exports.

Vietnam was also the fastest-growing in terms of the polyethylene or polypropylene binder or baler (agricultural) twines exports, with a CAGR of +20.9% from 2012 to 2022. Thailand (-3.4%) illustrated a downward trend over the same period. Vietnam (+51 p.p.) significantly strengthened its position in terms of the total exports, while Thailand saw its share reduced by -45.9% from 2012 to 2022, respectively.

In value terms, Vietnam ($X) remains the largest polyethylene binder supplier in ASEAN, comprising 78% of total exports. The second position in the ranking was held by Thailand ($X), with a 20% share of total exports.

In Vietnam, polyethylene binder exports expanded at an average annual rate of +19.1% over the period from 2012-2022.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, dropping by -9.1% against the previous year. Overall, the export price saw a slight slump. The most prominent rate of growth was recorded in 2021 when the export price increased by 17%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Vietnam totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+0.1%).

Polyethylene Binder Imports

Imports in ASEAN

In 2022, the amount of polyethylene or polypropylene binder or baler (agricultural) twines imported in ASEAN soared to X tons, rising by 72% against the year before. Over the period under review, imports continue to indicate a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, polyethylene binder imports skyrocketed to $X in 2022. Overall, imports continue to indicate a notable increase. The growth pace was the most rapid in 2013 when imports increased by 48% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Myanmar represented the key importer of polyethylene or polypropylene binder or baler (agricultural) twines in ASEAN, with the volume of imports amounting to X tons, which was approx. 46% of total imports in 2022. Cambodia (X tons) held the second position in the ranking, followed by Malaysia (X tons), Singapore (X tons), Thailand (X tons) and Indonesia (X tons). All these countries together took near 47% share of total imports. Vietnam (X tons) followed a long way behind the leaders.

Myanmar was also the fastest-growing in terms of the polyethylene or polypropylene binder or baler (agricultural) twines imports, with a CAGR of +61.5% from 2012 to 2022. At the same time, Thailand (+29.3%), Indonesia (+22.1%), Cambodia (+7.4%) and Malaysia (+3.4%) displayed positive paces of growth. By contrast, Singapore (-4.3%) and Vietnam (-15.0%) illustrated a downward trend over the same period. Myanmar (+46 p.p.), Thailand (+5.3 p.p.) and Indonesia (+4.6 p.p.) significantly strengthened its position in terms of the total imports, while Malaysia, Singapore and Vietnam saw its share reduced by -4.7%, -13.8% and -31.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Myanmar ($X), Cambodia ($X) and Malaysia ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 67% of total imports.

Myanmar, with a CAGR of +55.1%, saw the highest rates of growth with regard to 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

The import price in ASEAN stood at $X per ton in 2022, waning by -16.5% against the previous year. In general, the import price continues to indicate a noticeable curtailment. The growth pace was the most rapid in 2014 an increase of 15%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+1.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform