ASEAN: Market for Rigid Tubes, Pipes and Hoses of Polymers of Vinyl Chloride 2024

Market Size for Rigid Tubes, Pipes and Hoses of Polymers of Vinyl Chloride in ASEAN

The ASEAN market for rigid tubes, pipes and hoses of polymers of vinyl chloride stood at $X in 2022, stabilizing at the previous year. The market value increased at an average annual rate of +4.0% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Production of Rigid Tubes, Pipes and Hoses of Polymers of Vinyl Chloride in ASEAN

In value terms, vinyl chloride polymer rigid pipes production rose to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.0% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when the production volume increased by 25%. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Exports of Rigid Tubes, Pipes and Hoses of Polymers of Vinyl Chloride

Exports in ASEAN

In 2022, shipments abroad of rigid tubes, pipes and hoses of polymers of vinyl chloride increased by 6.1% to X tons, rising for the second consecutive year after two years of decline. Total exports indicated notable growth from 2012 to 2022: its volume increased at an average annual rate of +4.6% 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 +28.9% against 2020 indices. The pace of growth appeared the most rapid in 2017 with an increase of 25% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, vinyl chloride polymer rigid pipes exports rose significantly to $X in 2022. Total exports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +7.1% 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 +73.2% against 2016 indices. The most prominent rate of growth was recorded in 2013 with an increase of 24%. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Exports by Country

Malaysia (X tons) and the Philippines (X tons) were the main exporters of rigid tubes, pipes and hoses of polymers of vinyl chloride in 2022, finishing at approx. 47% and 33% of total exports, respectively. Thailand (X tons) took the next position in the ranking, followed by Vietnam (X tons). All these countries together took near 16% share of total exports. Singapore (X tons) followed a long way behind the leaders.

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 +102.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest vinyl chloride polymer rigid pipes supplying countries in ASEAN were the Philippines ($X), Malaysia ($X) and Thailand ($X), with a combined 88% share of total exports.

The Philippines, with a CAGR of +106.9%, saw the highest growth rate of 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, leveling off at the previous year. Export price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vinyl chloride polymer rigid pipes export price increased by +61.7% against 2018 indices. The pace of growth was the most pronounced in 2020 when the export price increased by 26% against the previous year. Over the period under review, the export prices reached the maximum in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+3.6%), while the other leaders experienced more modest paces of growth.

Imports of Rigid Tubes, Pipes and Hoses of Polymers of Vinyl Chloride

Imports in ASEAN

In 2022, the amount of rigid tubes, pipes and hoses of polymers of vinyl chloride imported in ASEAN amounted to X tons, growing by 5.2% on 2021. Total imports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +8.8% 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 +34.7% against 2017 indices. The growth pace was the most rapid in 2015 when imports increased by 33% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, vinyl chloride polymer rigid pipes imports expanded notably to $X in 2022. Total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.8% 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 +63.0% against 2017 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 29% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

Singapore was the largest importing country with an import of about X tons, which resulted at 35% of total imports. Indonesia (X tons) ranks second in terms of the total imports with an 11% share, followed by Vietnam (10%), Thailand (9.9%), Myanmar (9.1%), Lao People's Democratic Republic (8.2%), Cambodia (5.8%) and Malaysia (5.8%).

From 2012 to 2022, average annual rates of growth with regard to vinyl chloride polymer rigid pipes imports into Singapore stood at +4.1%. At the same time, Lao People's Democratic Republic (+64.7%), Myanmar (+24.8%), Indonesia (+16.7%), Cambodia (+15.7%), Vietnam (+9.4%), Thailand (+8.9%) and Malaysia (+2.8%) displayed positive paces of growth. Moreover, Lao People's Democratic Republic emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +64.7% from 2012-2022. While the share of Lao People's Democratic Republic (+8.1 p.p.), Myanmar (+6.8 p.p.), Indonesia (+5.8 p.p.) and Cambodia (+2.7 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Malaysia (-4.3 p.p.) and Singapore (-19.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) constitutes the largest market for imported rigid tubes, pipes and hoses of polymers of vinyl chloride in ASEAN, comprising 30% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 14% share of total imports. It was followed by Vietnam, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Singapore stood at +3.4%. The remaining importing countries recorded the following average annual rates of imports growth: Indonesia (+17.3% per year) and Vietnam (+7.0% per year).

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, picking up by 5% against the previous year. Over the period under review, the import price, however, showed a noticeable decrease. The growth pace was the most rapid in 2021 an increase of 6.5% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Malaysia ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cambodia (+3.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform