Asia-Pacific: Plaster Article Market 2024

Plaster Article Market Size in Asia-Pacific

In 2021, the Asia-Pacific plaster article market decreased by -2.1% to $X for the first time since 2017, thus ending a three-year rising trend. The market value increased at an average annual rate of +3.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $X in 2020, and then dropped in the following year.

Plaster Article Production in Asia-Pacific

In value terms, plaster article production declined to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when the production volume increased by 14% against the previous year. Over the period under review, production reached the peak level at $X in 2020, and then reduced in the following year.

Plaster Article Exports

Exports in Asia-Pacific

In 2021, shipments abroad of articles of plaster or of compositions based on plaster decreased by -4.9% to X tons, falling for the third year in a row after two years of growth. In general, exports recorded a mild decline. The pace of growth was the most pronounced in 2014 when exports increased by 12% against the previous year. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, plaster article exports totaled $X in 2021. Overall, exports saw a mild shrinkage. The pace of growth was the most pronounced in 2013 with an increase of 14% against the previous year. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) and Thailand (X tons) prevails in exports structure, together comprising 85% of total exports. Japan (X tons), India (X tons) and Indonesia (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 India (with a CAGR of +44.0%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest plaster article supplier in Asia-Pacific, comprising 59% of total exports. The second position in the ranking was taken by Thailand ($X), with a 23% share of total exports. It was followed by Japan, with a 2.8% share.

From 2012 to 2021, the average annual growth rate of value in China totaled -1.6%. In the other countries, the average annual rates were as follows: Thailand (+1.6% per year) and Japan (-0.8% per year).

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per ton, surging by 6.7% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the export price increased by 10% against the previous year. The level of export peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was China ($X per ton), while Indonesia ($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-Pacific

After three years of decline, overseas purchases of articles of plaster or of compositions based on plaster increased by 13% to X tons in 2021. Total imports indicated temperate growth from 2012 to 2021: its volume increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -27.4% against 2017 indices. The growth pace was the most rapid in 2014 with an increase of 25%. The volume of import peaked at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, plaster article imports soared to $X in 2021. The total import value increased at an average annual rate of +3.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 with an increase of 17%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, India (X tons) represented the key importer of articles of plaster or of compositions based on plaster, achieving 26% of total imports. Singapore (X tons) took the second position in the ranking, followed by Hong Kong SAR (X tons), Vietnam (X tons), Cambodia (X tons), the Philippines (X tons), Malaysia (X tons) and Myanmar (X tons). All these countries together took near 49% share of total imports. The following importers - Nepal (X tons), Taiwan (Chinese) (X tons), New Zealand (X tons), Australia (X tons) and Lao People's Democratic Republic (X tons) - together made up 15% of total imports.

Imports into India increased at an average annual rate of +16.1% from 2012 to 2021. At the same time, Nepal (+23.2%), Lao People's Democratic Republic (+20.1%), New Zealand (+13.3%), Australia (+10.3%), Myanmar (+9.9%), Taiwan (Chinese) (+9.8%), Malaysia (+8.2%), Hong Kong SAR (+3.6%) and Cambodia (+2.1%) displayed positive paces of growth. Moreover, Nepal emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +23.2% from 2012-2021. By contrast, Vietnam (-3.1%), the Philippines (-5.0%) and Singapore (-5.4%) illustrated a downward trend over the same period. India (+18 p.p.), Nepal (+2.9 p.p.), Malaysia (+2.2 p.p.), Myanmar (+2.2 p.p.), New Zealand (+2.1 p.p.) and Taiwan (Chinese) (+1.6 p.p.) significantly strengthened its position in terms of the total imports, while Vietnam, the Philippines and Singapore saw its share reduced by -4.4%, -6.3% and -10.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X), Hong Kong SAR ($X) and Singapore ($X) constituted the countries with the highest levels of imports in 2021, with a combined 37% share of total imports. These countries were followed by Vietnam, the Philippines, Cambodia, New Zealand, Australia, Myanmar, Malaysia, Nepal, Taiwan (Chinese) and Lao People's Democratic Republic, which together accounted for a further 45%.

Nepal, with a CAGR of +23.3%, saw the highest growth rate of the value of imports, in terms of 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

In 2021, the import price in Asia-Pacific amounted to $X per ton, surging by 3% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 15%. Over the period under review, import prices hit record highs in 2021 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was the Philippines ($X per ton), while Malaysia ($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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