Asia-Pacific: Market for Cellular Plates, Sheets and Films of Polyymers of Styrene 2024

Market Size for Cellular Plates, Sheets and Films of Polyymers of Styrene in Asia-Pacific

The Asia-Pacific market for cellular plates, sheets and films of polyymers of styrene expanded modestly to $X in 2022, rising by 1.5% against the previous year. The market value increased at an average annual rate of +3.1% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2018 when the market value increased by 8.4% against the previous year. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Cellular Plates, Sheets and Films of Polyymers of Styrene in Asia-Pacific

In value terms, production of cellular plates, sheets and films of polyymers of styrene rose slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.1% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when the production volume increased by 9.1% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production of growth failed to regain momentum.

Exports of Cellular Plates, Sheets and Films of Polyymers of Styrene

Exports in Asia-Pacific

In 2022, shipments abroad of cellular plates, sheets and films of polyymers of styrene increased by 9.8% to X tons, rising for the second year in a row after three years of decline. The total export volume increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of 23% against the previous year. Over the period under review, the exports of attained the maximum at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, exports of cellular plates, sheets and films of polyymers of styrene soared to $X in 2022. The total export value increased at an average annual rate of +5.3% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China dominates styrene structure, amounting to X tons, which was approx. 72% of total exports in 2022. Malaysia (X tons) ranks second in terms of the total exports with a 9.8% share, followed by South Korea (5.1%). Vietnam (X tons), Thailand (X tons) and Singapore (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to polystyrene cellular plates, sheets and films exports from China stood at +5.9%. At the same time, Vietnam (+11.1%), Thailand (+6.9%), Malaysia (+3.2%) and Singapore (+1.3%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +11.1% from 2012-2022. By contrast, South Korea (-11.8%) illustrated a downward trend over the same period. While the share of China (+24 p.p.) and Vietnam (+2.3 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of South Korea (-16.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest polystyrene cellular plates, sheets and films supplier in Asia-Pacific, comprising 77% of total exports. The second position in the ranking was taken by Thailand ($X), with a 5% share of total exports. It was followed by South Korea, with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +10.2%. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (+13.8% per year) and South Korea (-4.9% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, surging by 20% against the previous year. Over the last decade, it increased at an average annual rate of +3.5%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+7.8%), while the other leaders experienced more modest paces of growth.

Imports of Cellular Plates, Sheets and Films of Polyymers of Styrene

Imports in Asia-Pacific

In 2022, purchases abroad of cellular plates, sheets and films of polyymers of styrene decreased by -14.4% to X tons, falling for the fourth consecutive year after seven years of growth. In general, imports, however, saw a resilient expansion. The growth pace was the most rapid in 2018 with an increase of 30% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of cellular plates, sheets and films of polyymers of styrene dropped to $X in 2022. Total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +8.6% against 2020 indices. The growth pace was the most rapid in 2016 with an increase of 24% against the previous year. Over the period under review, imports of reached the maximum at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Vietnam represented the largest importer of cellular plates, sheets and films of polyymers of styrene in Asia-Pacific, with the volume of imports amounting to X tons, which was near 29% of total imports in 2022. Indonesia (X tons) took a 9.3% share (based on physical terms) of total imports, which put it in second place, followed by Singapore (9%), India (7.2%), Myanmar (6.9%), Thailand (6.3%), Australia (5.7%), Malaysia (5.6%) and the Philippines (4.6%).

Vietnam was also the fastest-growing in terms of the cellular plates, sheets and films of polyymers of styrene imports, with a CAGR of +38.1% from 2012 to 2022. At the same time, Indonesia (+18.7%), India (+17.4%), Malaysia (+6.3%), Thailand (+2.3%), Singapore (+2.2%) and Myanmar (+1.2%) displayed positive paces of growth. The Philippines experienced a relatively flat trend pattern. By contrast, Australia (-2.4%) illustrated a downward trend over the same period. While the share of Vietnam (+27 p.p.), Indonesia (+6.4 p.p.) and India (+4.7 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Thailand (-2.4 p.p.), Singapore (-3.5 p.p.), the Philippines (-3.6 p.p.), Myanmar (-3.8 p.p.) and Australia (-6.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) constitutes the largest market for imported cellular plates, sheets and films of polyymers of styrene in Asia-Pacific, comprising 28% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 9.5% share of total imports. It was followed by Malaysia, with a 7.9% share.

In Vietnam, imports of cellular plates, sheets and films of polyymers of styrene expanded at an average annual rate of +35.1% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Indonesia (+15.2% per year) and Malaysia (+4.3% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, growing by 9.3% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the import price increased by 24% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2012; afterwards, it flattened through to 2022.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Malaysia ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+16.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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