Asia: Plaster Market 2024

Plaster Market Size in Asia

The Asian plaster market amounted to $X in 2022, approximately equating the previous year. The total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +61.6% against 2012 indices. The level of consumption peaked in 2022 and is likely to see gradual growth in the near future.

Plaster Production in Asia

In value terms, plaster production reduced modestly to $X in 2022 estimated in export price. In general, production, however, recorded prominent growth. The pace of growth appeared the most rapid in 2018 when the production volume increased by 35%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Plaster Exports

Exports in Asia

After five years of growth, overseas shipments of plaster decreased by -13.6% to X tons in 2022. Total exports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when exports increased by 20%. Over the period under review, the exports reached the maximum at X tons in 2021, and then shrank in the following year.

In value terms, plaster exports reduced to $X in 2022. Total exports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +4.8% 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 +67.4% against 2016 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 36% against the previous year. As a result, the exports reached the peak of $X, and then reduced in the following year.

Exports by Country

Turkey was the largest exporter of plaster in Asia, with the volume of exports finishing at X tons, which was approx. 48% of total exports in 2022. It was distantly followed by Thailand (X tons), the United Arab Emirates (X tons) and Iran (X tons), together generating a 40% share of total exports. The following exporters - Uzbekistan (X tons), China (X tons) and Saudi Arabia (X tons) - each recorded a 6.5% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to plaster exports from Turkey stood at +1.9%. At the same time, the United Arab Emirates (+53.2%), Iran (+14.4%), Saudi Arabia (+6.0%) and Uzbekistan (+4.1%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in Asia, with a CAGR of +53.2% from 2012-2022. Thailand experienced a relatively flat trend pattern. By contrast, China (-6.1%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+13 p.p.), Iran (+3.8 p.p.) and Uzbekistan (+2.2 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of China (-3.7 p.p.), Thailand (-7.4 p.p.) and Turkey (-9.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest plaster supplier in Asia, comprising 48% of total exports. The second position in the ranking was held by Thailand ($X), with a 24% share of total exports. It was followed by China, with an 8.4% share.

In Turkey, plaster exports increased at an average annual rate of +4.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Thailand (+3.2% per year) and China (+6.3% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, rising by 9.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The pace of growth appeared the most rapid in 2021 when the export price increased by 30% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+13.2%), while the other leaders experienced more modest paces of growth.

Plaster Imports

Imports in Asia

In 2022, plaster imports in Asia surged to X tons, increasing by 23% compared with the year before. Over the period under review, imports saw a remarkable increase. The pace of growth was the most pronounced in 2021 when imports increased by 39%. The volume of import peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, plaster imports rose significantly to $X in 2022. The total import value increased at an average annual rate of +5.0% 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 2021 with an increase of 36%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

In 2022, South Korea (X tons), distantly followed by India (X tons), China (X tons) and Malaysia (X tons) represented the largest importers of plaster, together generating 75% of total imports. Georgia (X tons), Iraq (X tons), Armenia (X tons), Vietnam (X tons) and Israel (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by South Korea (with a CAGR of +42.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest plaster importing markets in Asia were India ($X), South Korea ($X) and China ($X), together accounting for 47% of total imports.

Among the main importing countries, India, with a CAGR of +25.7%, recorded the highest growth rate of 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 2022, the import price in Asia amounted to $X per ton, shrinking by -8.4% against the previous year. In general, the import price saw a pronounced setback. The pace of growth appeared the most rapid in 2018 when the import price increased by 35% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 Israel ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+1.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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