ASEAN: Ethylene Polymer Bag Market 2024

Ethylene Polymer Bag Market Size in ASEAN

The ASEAN ethylene polymer bag market fell modestly to $X in 2022, dropping by -2.4% against the previous year. The market value increased at an average annual rate of +4.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Ethylene Polymer Bag Production in ASEAN

In value terms, ethylene polymer bag production fell modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 with an increase of 12% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Ethylene Polymer Bag Exports

Exports in ASEAN

In 2022, the amount of sacks and bags of polymers of ethylene exported in ASEAN reached X tons, with an increase of 3.8% against 2021 figures. Total exports indicated a pronounced expansion from 2012 to 2022: its volume increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -3.4% against 2020 indices. The pace of growth was the most pronounced in 2019 when exports increased by 20% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2020; afterwards, it flattened through to 2022.

In value terms, ethylene polymer bag exports rose slightly to $X in 2022. Total exports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +4.2% 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 +41.7% against 2016 indices. The growth pace was the most rapid in 2019 when exports increased by 18%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

Vietnam was the major exporter of sacks and bags of polymers of ethylene in ASEAN, with the volume of exports reaching X tons, which was near 49% of total exports in 2022. Thailand (X tons) took the second position in the ranking, distantly followed by Malaysia (X tons) and Indonesia (X tons). All these countries together held approx. 47% share of total exports. The Philippines (X tons) followed a long way behind the leaders.

Vietnam was also the fastest-growing in terms of the sacks and bags of polymers of ethylene exports, with a CAGR of +11.5% from 2012 to 2022. At the same time, Thailand (+1.5%) displayed positive paces of growth. Indonesia experienced a relatively flat trend pattern. By contrast, Malaysia (-2.2%) and the Philippines (-3.2%) illustrated a downward trend over the same period. While the share of Vietnam (+24 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the Philippines (-1.7 p.p.), Indonesia (-3 p.p.), Thailand (-6.4 p.p.) and Malaysia (-13 p.p.) displayed negative dynamics.

In value terms, Vietnam ($X), Thailand ($X) and Malaysia ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 87% share of total exports.

Vietnam, with a CAGR of +11.1%, saw 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 -2% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 14% against the previous year. As a result, the export price attained the peak level of $X per ton, and then reduced in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+3.2%), while the other leaders experienced more modest paces of growth.

Ethylene Polymer Bag Imports

Imports in ASEAN

In 2022, supplies from abroad of sacks and bags of polymers of ethylene increased by 3.9% to X tons, rising for the third year in a row after two years of decline. Overall, imports posted strong growth. The most prominent rate of growth was recorded in 2016 when imports increased by 26%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, ethylene polymer bag imports stood at $X in 2022. Total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +8.2% 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 +119.1% against 2012 indices. The most prominent rate of growth was recorded in 2021 with an increase of 21%. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in years to come.

Imports by Country

Vietnam (X tons), Thailand (X tons), Singapore (X tons), Indonesia (X tons), Cambodia (X tons), the Philippines (X tons), Malaysia (X tons), Lao People's Democratic Republic (X tons) and Myanmar (X tons) represented roughly 99% of total imports in 2022.

From 2012 to 2022, the biggest increases were recorded for Lao People's Democratic Republic (with a CAGR of +38.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Vietnam ($X) and Indonesia ($X) constituted the countries with the highest levels of imports in 2022, with a combined 53% share of total imports. Thailand, the Philippines, Cambodia, Malaysia, Lao People's Democratic Republic and Myanmar lagged somewhat behind, together comprising a further 46%.

Among the main importing countries, Lao People's Democratic Republic, with a CAGR of +31.7%, saw 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 2022, therefore, remained relatively stable against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 15% against the previous year. Over the period under review, import prices attained the peak figure 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 the Philippines ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+6.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform