Asia: Expansible Polystyrene Market 2024

Expansible Polystyrene Market Size in Asia

In 2021, the Asian expansible polystyrene market increased by 7% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, recorded a noticeable curtailment. The most prominent rate of growth was recorded in 2017 when the market value increased by 9%. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Expansible Polystyrene Production in Asia

In value terms, expansible polystyrene production rose rapidly to $X in 2021 estimated in export price. In general, production, however, showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2017 when the production volume increased by 10% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Expansible Polystyrene Exports

Exports in Asia

In 2021, after three years of decline, there was significant growth in overseas shipments of expansible polystyrene in primary forms, when their volume increased by 19% to X tons. Over the period under review, exports, however, recorded a slight slump. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, expansible polystyrene exports soared to $X in 2021. Overall, exports, however, showed a mild downturn. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Taiwan (Chinese) represented the key exporter of expansible polystyrene in primary forms in Asia, with the volume of exports amounting to X tons, which was approx. 38% of total exports in 2021. China (X tons) ranks second in terms of the total exports with a 21% share, followed by Turkey (21%) and South Korea (9.2%). Saudi Arabia (X tons), Japan (X tons) and Thailand (X tons) held a minor share of total exports.

From 2012 to 2021, the biggest increases were recorded for Saudi Arabia (with a CAGR of +26.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X), Turkey ($X) and China ($X) constituted the countries with the highest levels of exports in 2021, with a combined 79% share of total exports. These countries were followed by South Korea, Saudi Arabia, Thailand and Japan, which together accounted for a further 15%.

Among the main exporting countries, Saudi Arabia, with a CAGR of +26.6%, saw 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 43% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+1.6%), while the other leaders experienced a decline in the export price figures.

Expansible Polystyrene Imports

Imports in Asia

For the third consecutive year, Asia recorded decline in supplies from abroad of expansible polystyrene in primary forms, which decreased by -2.6% to X tons in 2021. Over the period under review, imports recorded a pronounced downturn. The most prominent rate of growth was recorded in 2018 when imports increased by 18% against the previous year. Over the period under review, imports reached the maximum at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, expansible polystyrene imports skyrocketed to $X in 2021. Overall, imports showed a noticeable decline. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Vietnam (X tons), distantly followed by Indonesia (X tons), Malaysia (X tons), Thailand (X tons), China (X tons), Turkey (X tons), Saudi Arabia (X tons) and South Korea (X tons) represented the major importers of expansible polystyrene in primary forms, together mixing up 67% of total imports. The Philippines (X tons), Israel (X tons), Kazakhstan (X tons), Bangladesh (X tons) and Hong Kong SAR (X tons) followed a long way behind the leaders.

Imports into Vietnam increased at an average annual rate of +7.9% from 2012 to 2021. At the same time, South Korea (+33.1%), Bangladesh (+19.2%), Saudi Arabia (+18.9%), Indonesia (+8.5%), Malaysia (+7.9%), Israel (+5.3%), Thailand (+3.6%), the Philippines (+3.4%) and Kazakhstan (+1.7%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Asia, with a CAGR of +33.1% from 2012-2021. By contrast, Hong Kong SAR (-5.3%), China (-7.6%) and Turkey (-15.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Vietnam, Indonesia, Malaysia, Saudi Arabia, South Korea, Thailand, Israel, Bangladesh and the Philippines increased by +12, +6.1, +4.9, +4.4, +4.3, +3.4, +2, +1.9 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X), Indonesia ($X) and Thailand ($X) were the countries with the highest levels of imports in 2021, with a combined 36% share of total imports. These countries were followed by China, Malaysia, Turkey, Saudi Arabia, Israel, the Philippines, South Korea, Hong Kong SAR, Kazakhstan and Bangladesh, which together accounted for a further 46%.

South Korea, with a CAGR of +29.3%, saw the highest growth rate of the value of imports, among the main importing countries 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 Asia stood at $X per ton in 2021, picking up by 36% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while South Korea ($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 (+2.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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