ASEAN: Market for Pure Polyvinyl Chloride in Primary Forms 2024

Market Size for Pure Polyvinyl Chloride in Primary Forms in ASEAN

The ASEAN market for pure polyvinyl chloride in primary forms reduced notably to $X in 2022, declining by -15.1% against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then dropped dramatically in the following year.

Production of Pure Polyvinyl Chloride in Primary Forms in ASEAN

In value terms, production of pure polyvinyl chloride in primary forms declined to $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 28% against the previous year. Over the period under review, production of attained the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Pure Polyvinyl Chloride in Primary Forms

Exports in ASEAN

In 2022, overseas shipments of pure polyvinyl chloride in primary forms increased by 21% to X tons, rising for the third year in a row after two years of decline. Total exports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +6.2% 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 +47.6% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of pure polyvinyl chloride in primary forms rose markedly to $X in 2022. Over the period under review, exports continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 76%. Over the period under review, the exports of hit record highs in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Thailand (X tons) and Indonesia (X tons) prevails in forms structure, together mixing up 87% of total exports. It was distantly followed by Malaysia (X tons), constituting a 5.2% share of total exports. The following exporters - Vietnam (X tons) and the Philippines (X tons) - together made up 7.4% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by the Philippines (with a CAGR of +67.5%), while the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Thailand ($X) and Malaysia ($X) constituted the countries with the highest levels of exports in 2022, with a combined 93% share of total exports. Vietnam and the Philippines lagged somewhat behind, together accounting for a further 7.2%.

The Philippines, with a CAGR of +65.8%, recorded the highest rates of growth with regard to the value of exports, among 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

In 2022, the export price in ASEAN amounted to $X per ton, with a decrease of -8.3% against the previous year. Export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for pure polyvinyl chloride in primary forms increased by +43.8% against 2020 indices. The pace of growth was the most pronounced in 2021 an increase of 57% against the previous year. As a result, the export price reached the peak level of $X per ton, and then dropped in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Indonesia ($X per ton) and Malaysia ($X per ton), while Thailand ($X per ton) and the Philippines ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+4.6%), while the other leaders experienced more modest paces of growth.

Imports of Pure Polyvinyl Chloride in Primary Forms

Imports in ASEAN

After three years of growth, supplies from abroad of pure polyvinyl chloride in primary forms decreased by -9.1% to X tons in 2022. Total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +7.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +21.1% against 2018 indices. The pace of growth was the most pronounced in 2016 with an increase of 29% against the previous year. The volume of import peaked at X tons in 2021, and then dropped in the following year.

In value terms, imports of pure polyvinyl chloride in primary forms dropped markedly to $X in 2022. In general, imports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2021 when imports increased by 68%. As a result, imports reached the peak of $X, and then shrank sharply in the following year.

Imports by Country

Vietnam represented the main importing country with an import of around X tons, which resulted at 53% of total imports. Malaysia (X tons) ranks second in terms of the total imports with an 18% share, followed by Cambodia (8.5%), Thailand (7%) and Indonesia (5.7%). The following importers - Myanmar (X tons) and Singapore (X tons) - together made up 5.1% of total imports.

Imports into Vietnam increased at an average annual rate of +17.4% from 2012 to 2022. At the same time, Cambodia (+56.2%), Myanmar (+13.5%) and Malaysia (+4.8%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +56.2% from 2012-2022. By contrast, Thailand (-2.5%), Indonesia (-3.1%) and Singapore (-6.3%) illustrated a downward trend over the same period. Vietnam (+30 p.p.) and Cambodia (+8.3 p.p.) significantly strengthened its position in terms of the total imports, while Malaysia, Singapore, Indonesia and Thailand saw its share reduced by -6.2%, -7.5%, -11% and -12.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) constitutes the largest market for imported pure polyvinyl chloride in primary forms in ASEAN, comprising 52% of total imports. The second position in the ranking was held by Malaysia ($X), with a 17% share of total imports. It was followed by Thailand, with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Vietnam stood at +16.5%. In the other countries, the average annual rates were as follows: Malaysia (+6.5% per year) and Thailand (-2.0% per year).

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, reducing by -11.7% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by 48%. As a result, import price reached the peak level of $X per ton, and then fell in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Indonesia ($X per ton), while Myanmar ($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 (+3.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform