Asia-Pacific: Plaster Market 2024

Plaster Market Size in Asia-Pacific

The Asia-Pacific plaster market rose slightly to $X in 2022, growing by 3.5% against the previous year. The total consumption indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.8% 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 +51.6% against 2015 indices. Over the period under review, the market hit record highs in 2022 and is likely to see steady growth in the immediate term.

Plaster Production in Asia-Pacific

In value terms, plaster production stood at $X in 2022 estimated in export price. The total production indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.2% against 2020 indices. The pace of growth appeared the most rapid in 2019 with an increase of 36%. The level of production peaked at $X in 2020; afterwards, it flattened through to 2022.

Plaster Exports

Exports in Asia-Pacific

In 2022, overseas shipments of plaster decreased by -2.2% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when exports increased by 17%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, plaster exports fell to $X in 2022. The total export value increased at an average annual rate of +3.7% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 25% against the previous year. As a result, the exports attained the peak of $X, and then declined modestly in the following year.

Exports by Country

Thailand prevails in exports structure, finishing at X tons, which was approx. 83% of total exports in 2022. It was distantly followed by China (X tons), committing an 8.6% share of total exports. The following exporters - India (X tons) and South Korea (X tons) - together made up 4.6% of total exports.

Thailand experienced a relatively flat trend pattern with regard to volume of exports of plaster. At the same time, India (+13.0%) and South Korea (+8.5%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +13.0% from 2012-2022. By contrast, China (-6.1%) illustrated a downward trend over the same period. Thailand (+5.8 p.p.) and India (+2.2 p.p.) significantly strengthened its position in terms of the total exports, while China saw its share reduced by -7.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest plaster supplier in Asia-Pacific, comprising 62% of total exports. The second position in the ranking was held by China ($X), with a 22% share of total exports. It was followed by South Korea, with a 5.3% share.

In Thailand, plaster exports expanded at an average annual rate of +3.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (+6.3% per year) and South Korea (+5.9% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, approximately equating the previous year. Over the last decade, it increased at an average annual rate of +3.8%. The most prominent rate of growth was recorded in 2019 an increase of 23%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the export prices failed to regain momentum.

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 South Korea ($X per ton), while India ($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 mixed trends in the export price figures.

Plaster Imports

Imports in Asia-Pacific

Plaster imports skyrocketed to X tons in 2022, picking up by 26% against 2021. Over the period under review, imports recorded a prominent expansion. The pace of growth was the most pronounced in 2021 with an increase of 52% against the previous year. The volume of import peaked in 2022 and is likely to continue growth in the immediate term.

In value terms, plaster imports expanded significantly to $X in 2022. Total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.0% 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 +58.7% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 41%. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

Imports by Country

South Korea represented the main importer of plaster in Asia-Pacific, with the volume of imports accounting for X tons, which was approx. 42% of total imports in 2022. India (X tons) held the second position in the ranking, distantly followed by China (X tons) and Malaysia (X tons). All these countries together held approx. 46% share of total imports. The following importers - Vietnam (X tons), Bangladesh (X tons) and Indonesia (X tons) - each reached a 5.5% share of total imports.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +42.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), South Korea ($X) and China ($X) were the countries with the highest levels of imports in 2022, together comprising 58% of total imports.

In terms of the main importing countries, India, with a CAGR of +25.7%, saw the highest rates of growth with regard to 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-Pacific amounted to $X per ton, declining by -10.7% against the previous year. Overall, the import price saw a abrupt downturn. The most prominent rate of growth was recorded in 2018 when the import price increased by 46%. Over the period under review, import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+14.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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