Asia: Plaster Article Market 2024

Plaster Article Market Size in Asia

After three years of growth, the Asian plaster article market decreased by -2.6% to $X in 2021. The market value increased at an average annual rate of +4.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2020, and then dropped in the following year.

Plaster Article Production in Asia

In value terms, plaster article production shrank slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 with an increase of 15% against the previous year. The level of production peaked at $X in 2020, and then reduced slightly in the following year.

Plaster Article Exports

Exports in Asia

In 2021, overseas shipments of articles of plaster or of compositions based on plaster increased by 3.7% to X tons for the first time since 2018, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +3.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 with an increase of 13% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, plaster article exports amounted to $X in 2021. The total export value increased at an average annual rate of +1.6% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 15% against the previous year. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The shipments of the three major exporters of articles of plaster or of compositions based on plaster, namely Turkey, China and Thailand, represented more than half of total export. Saudi Arabia (X tons) took a 9.9% share (based on physical terms) of total exports, which put it in second place, followed by Oman (9.9%) and the United Arab Emirates (4.6%). Japan (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Oman (with a CAGR of +35.8%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), Turkey ($X) and Thailand ($X) constituted the countries with the highest levels of exports in 2021, with a combined 68% share of total exports. Saudi Arabia, Oman, the United Arab Emirates and Japan lagged somewhat behind, together accounting for a further 21%.

In terms of the main exporting countries, Oman, with a CAGR of +27.2%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, with an increase of 6.9% against the previous year. Over the period under review, the export price, however, saw a mild curtailment. Over the period under review, the export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was China ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.1%), while the other leaders experienced mixed trends in the export price figures.

Plaster Article Imports

Imports in Asia

In 2021, approx. X tons of articles of plaster or of compositions based on plaster were imported in Asia; surging by 11% on the year before. Total imports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +8.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +102.2% against 2012 indices. The growth pace was the most rapid in 2014 with an increase of 28%. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, plaster article imports expanded sharply to $X in 2021. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 7.9% against the previous year. The level of import peaked at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Palestine dominates imports structure, accounting for X tons, which was near 50% of total imports in 2021. It was distantly followed by India (X tons), making up a 6.9% share of total imports. Iraq (X tons), Singapore (X tons), Hong Kong SAR (X tons), Kazakhstan (X tons), the United Arab Emirates (X tons), Qatar (X tons), Vietnam (X tons), Cambodia (X tons), the Philippines (X tons), Mongolia (X tons) and Kuwait (X tons) followed a long way behind the leaders.

Palestine was also the fastest-growing in terms of the articles of plaster or of compositions based on plaster imports, with a CAGR of +23.8% from 2012 to 2021. At the same time, Kuwait (+22.2%), India (+16.1%), Mongolia (+6.6%), Qatar (+4.1%), Hong Kong SAR (+3.6%), Kazakhstan (+2.8%), Cambodia (+2.1%), the United Arab Emirates (+1.3%) and Iraq (+1.1%) displayed positive paces of growth. By contrast, Vietnam (-3.1%), the Philippines (-5.0%) and Singapore (-5.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Palestine and India increased by +35 and +3.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest plaster article importing markets in Asia were India ($X), Hong Kong SAR ($X) and Singapore ($X), with a combined 23% share of total imports. These countries were followed by Iraq, Vietnam, the Philippines, the United Arab Emirates, Kazakhstan, Qatar, Cambodia, Kuwait, Mongolia and Palestine, which together accounted for a further 38%.

In terms of the main importing countries, Kuwait, with a CAGR of +16.2%, 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

In 2021, the import price in Asia amounted to $X per ton, shrinking by -2.9% against the previous year. Over the period under review, the import price showed a abrupt contraction. The most prominent rate of growth was recorded in 2015 an increase of 0.2%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the Philippines ($X per ton), while Palestine ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+9.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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