Asia: Ethylene Market 2024

Ethylene Market Size in Asia

In 2021, the Asian ethylene market was finally on the rise to reach $X after three years of decline. In general, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Ethylene Production in Asia

In value terms, ethylene production totaled $X in 2021 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 14%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Ethylene Exports

Exports in Asia

In 2021, exports of ethylene in Asia expanded rapidly to X tons, increasing by 14% compared with the year before. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when exports increased by 15%. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, ethylene exports soared to $X in 2021. In general, exports, however, recorded a mild curtailment. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, South Korea (X tons), distantly followed by Japan (X tons), Singapore (X tons), Malaysia (X tons), China (X tons) and the United Arab Emirates (X tons) represented the main exporters of ethylene, together constituting 83% of total exports. India (X tons) took a relatively small share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by India (with a CAGR of +238.3%), while the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Japan ($X) and Singapore ($X) constituted the countries with the highest levels of exports in 2021, together accounting for 64% of total exports. These countries were followed by Malaysia, the United Arab Emirates, China and India, which together accounted for a further 23%.

India, with a CAGR of +206.4%, 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 2021, the export price in Asia amounted to $X per ton, growing by 39% against the previous year. Over the period under review, the export price, however, continues to indicate a mild downturn. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in the United Arab Emirates ($X per ton) and Singapore ($X per ton), while India ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (-1.7%), while the other leaders experienced a decline in the export price figures.

Ethylene Imports

Imports in Asia

In 2021, purchases abroad of ethylene was finally on the rise to reach X tons after two years of decline. The total import volume increased at an average annual rate of +2.8% over the period 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 2016 when imports increased by 23% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, ethylene imports skyrocketed to $X in 2021. Total imports indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) was the key importer of ethylene, committing 53% of total imports. Indonesia (X tons) held the second position in the ranking, distantly followed by Taiwan (Chinese) (X tons) and South Korea (X tons). All these countries together held approx. 37% share of total imports. The following importers - Qatar (X tons), Japan (X tons) and India (X tons) - each finished at a 6% share of total imports.

Imports into China increased at an average annual rate of +4.2% from 2012 to 2021. At the same time, Qatar (+20.3%), India (+13.9%), Japan (+12.9%), South Korea (+5.2%), Taiwan (Chinese) (+2.4%) and Indonesia (+1.6%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in Asia, with a CAGR of +20.3% from 2012-2021. From 2012 to 2021, the share of China and Qatar increased by +6.1 and +2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported ethylene in Asia, comprising 54% of total imports. The second position in the ranking was held by Indonesia ($X), with a 21% share of total imports. It was followed by Taiwan (Chinese), with a 9.6% share.

In China, ethylene imports increased at an average annual rate of +2.3% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Indonesia (-0.3% per year) and Taiwan (Chinese) (+2.9% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, growing by 36% against the previous year. In general, the import price, however, saw a mild shrinkage. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Qatar ($X per ton) and China ($X per ton), while Taiwan (Chinese) ($X per ton) and India ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+0.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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