ASEAN: Market for Polystyrene In Primary Forms (Excluding Expansible Polystyrene) 2025

Market Size for Polystyrene In Primary Forms (Excluding Expansible Polystyrene) in ASEAN

In 2021, the ASEAN polystyrene in primary forms market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. The market value increased at an average annual rate of +1.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Production of Polystyrene In Primary Forms (Excluding Expansible Polystyrene) in ASEAN

In value terms, polystyrene in primary forms production stood at $X in 2021 estimated in export price. In general, production, however, continues to indicate a mild slump. The pace of growth appeared the most rapid in 2017 when the production volume increased by 34% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Exports of Polystyrene In Primary Forms (Excluding Expansible Polystyrene)

Exports in ASEAN

In 2021, shipments abroad of polystyrene in primary forms (excluding expansible polystyrene) decreased by -7.7% to X tons, falling for the second consecutive year after three years of growth. Total exports indicated perceptible growth from 2012 to 2021: its volume increased at an average annual rate of +2.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -18.2% against 2019 indices. The growth pace was the most rapid in 2018 when exports increased by 57% 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, polystyrene in primary forms exports amounted to $X in 2021. Over the period under review, exports showed a perceptible setback. The pace of growth appeared the most rapid in 2018 when exports increased by 47% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Malaysia represented the largest exporter of polystyrene in primary forms (excluding expansible polystyrene) in ASEAN, with the volume of exports finishing at X tons, which was approx. 45% of total exports in 2021. Thailand (X tons) ranks second in terms of the total exports with a 21% share, followed by Singapore (17%), Vietnam (7.8%) and Indonesia (7%). The Philippines (X tons) held a little share of total exports.

From 2012 to 2021, average annual rates of growth with regard to polystyrene in primary forms exports from Malaysia stood at +18.9%. At the same time, the Philippines (+38.8%), Indonesia (+21.8%) and Vietnam (+21.1%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +38.8% from 2012-2021. By contrast, Thailand (-2.5%) and Singapore (-9.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Malaysia, Vietnam and Indonesia increased by +34, +6.1 and +5.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X), Singapore ($X) and Thailand ($X) appeared to be the countries with the highest levels of exports in 2021, together accounting for 86% of total exports. These countries were followed by Vietnam, Indonesia and the Philippines, which together accounted for a further 14%.

The Philippines, with a CAGR of +21.5%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, jumping by 23% against the previous year. In general, the export price, however, showed a noticeable slump. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: 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 (-0.1%), while the other leaders experienced a decline in the export price figures.

Imports of Polystyrene In Primary Forms (Excluding Expansible Polystyrene)

Imports in ASEAN

For the fourth year in a row, ASEAN recorded growth in purchases abroad of polystyrene in primary forms (excluding expansible polystyrene), which increased by 5.8% to X tons in 2021. Overall, imports saw a strong increase. The growth pace was the most rapid in 2019 when imports increased by 31% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, polystyrene in primary forms imports soared to $X in 2021. The total import value increased at an average annual rate of +3.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Malaysia represented the largest importing country with an import of about X tons, which recorded 42% of total imports. It was distantly followed by Vietnam (X tons), Indonesia (X tons), the Philippines (X tons) and Thailand (X tons), together comprising a 55% share of total imports. Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for the Philippines (with a CAGR of +14.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest polystyrene in primary forms importing markets in ASEAN were Vietnam ($X), Malaysia ($X) and Indonesia ($X), together comprising 71% of total imports. These countries were followed by Thailand, the Philippines and Singapore, which together accounted for a further 28%.

Among the main importing countries, the Philippines, with a CAGR of +17.2%, recorded 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

The import price in ASEAN stood at $X per ton in 2021, with an increase of 30% against the previous year. In general, the import price, however, continues to indicate a perceptible contraction. Over the period under review, import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+2.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform