Asia-Pacific: Ethylene Market 2024

Ethylene Market Size in Asia-Pacific

The Asia-Pacific ethylene market dropped to $X in 2021, therefore, remained relatively stable against the previous year. In general, consumption continues to indicate a mild contraction. 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-Pacific

In value terms, ethylene production reached $X in 2021 estimated in export price. Overall, production recorded a mild curtailment. The growth pace was the most rapid in 2013 with an increase of 14%. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Ethylene Exports

Exports in Asia-Pacific

In 2021, ethylene exports in Asia-Pacific soared to X tons, picking up by 17% against 2020. The total export volume increased at an average annual rate of +4.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 25%. The volume of export peaked at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, ethylene exports surged to $X in 2021. Total exports indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of export peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

South Korea represented the largest exporting country with an export of about X tons, which amounted to 38% of total exports. Japan (X tons) ranks second in terms of the total exports with a 22% share, followed by Singapore (10%), Malaysia (9.4%) and China (6.3%). The following exporters - India (X tons) and Taiwan (Chinese) (X tons) - each resulted at a 7.5% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main 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, the largest ethylene supplying countries in Asia-Pacific were South Korea ($X), Japan ($X) and Singapore ($X), together accounting for 71% of total exports. Malaysia, China, Taiwan (Chinese) and India lagged somewhat behind, together comprising a further 23%.

India, with a CAGR of +206.4%, saw the highest growth rate of the value of exports, in terms of 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

The export price in Asia-Pacific stood at $X per ton in 2021, with an increase of 41% against the previous year. Overall, the export price, however, recorded a pronounced slump. Over the period under review, the export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Taiwan (Chinese) ($X per ton) and Singapore ($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-Pacific

In 2021, purchases abroad of ethylene increased by 0.1% to X tons for the first time since 2018, thus ending a two-year declining trend. 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 throughout the analyzed period. The pace of growth was the most pronounced in 2016 when imports increased by 21%. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

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 +1.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

China represented the main importing country with an import of about X tons, which amounted to 54% of total imports. It was distantly followed by Indonesia (X tons), Taiwan (Chinese) (X tons) and South Korea (X tons), together constituting a 38% share of total imports. The following importers - Japan (X tons), India (X tons) and Pakistan (X tons) - each reached a 5.7% share of total imports.

Imports into China increased at an average annual rate of +4.2% from 2012 to 2021. At the same time, India (+13.9%), Japan (+12.9%), South Korea (+5.2%), Taiwan (Chinese) (+2.4%) and Indonesia (+1.6%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +13.9% from 2012-2021. Pakistan experienced a relatively flat trend pattern. China (+6.5 p.p.) significantly strengthened its position in terms of the total imports, while Indonesia saw its share reduced by -2.4% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported ethylene in Asia-Pacific, comprising 55% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 22% share of total imports. It was followed by Taiwan (Chinese), with a 9.8% share.

From 2012 to 2021, the average annual growth rate of value in China totaled +2.3%. In the other countries, the average annual rates were as follows: Indonesia (-0.3% per year) and Taiwan (Chinese) (+2.9% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, with an increase of 36% against the previous year. In general, the import price, however, showed a slight curtailment. Over the period under review, import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Pakistan ($X per ton) and China ($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 Pakistan (+1.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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