Asia-Pacific: Market for Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms 2024

Market Size for Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms in Asia-Pacific

In 2021, after four years of growth, there was decline in the Asia-Pacific market for polyethylene with a specific gravity of less than X, in primary forms, when its value decreased by -4.8% to $X. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. Over the period under review, the market reached the maximum level at $X in 2020, and then declined slightly in the following year.

Production of Polyethylene with a Specific Gravity of Less than X, in Primary Forms in Asia-Pacific

In value terms, production of polyethylene with a specific gravity of less than X, in primary forms shrank to $X in 2021 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 9.9%. The level of production peaked at $X in 2020, and then reduced slightly in the following year.

Exports of Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms

Exports in Asia-Pacific

In 2021, overseas shipments of polyethylene with a specific gravity of less than X, in primary forms decreased by -6.4% to X tons, falling for the second consecutive year after two years of growth. The total export volume increased at an average annual rate of +1.5% 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 2018 when exports increased by 36%. The volume of export peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, exports of polyethylene with a specific gravity of less than X, in primary forms surged to $X in 2021. The total export value increased at an average annual rate of +1.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 when exports increased by 32% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

The biggest shipments were from Singapore (X tons), Thailand (X tons), South Korea (X tons) and Malaysia (X tons), together reaching 76% of total export. It was distantly followed by Japan (X tons), mixing up a 6% share of total exports. India (X tons), China (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 leading exporting countries, was attained by India (with a CAGR of +22.5%), while the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), South Korea ($X) and Thailand ($X) constituted the countries with the highest levels of exports in 2021, together comprising 63% of total exports. These countries were followed by Malaysia, China, Japan, India and Indonesia, which together accounted for a further 31%.

India, with a CAGR of +20.2%, saw the highest rates of growth with regard to 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

In 2021, the export price in Asia-Pacific amounted to $X per ton, surging by 39% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. Over the period under review, the export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($X per ton), while Japan ($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 (+3.6%), while the other leaders experienced mixed trends in the export price figures.

Imports of Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms

Imports in Asia-Pacific

In 2021, overseas purchases of polyethylene with a specific gravity of less than X, in primary forms decreased by -5.8% to X tons, falling for the second consecutive year after three years of growth. Total imports indicated a pronounced expansion from 2012 to 2021: its volume increased at an average annual rate of +4.3% 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 -10.7% against 2019 indices. The pace of growth appeared the most rapid in 2018 when imports increased by 15% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, imports of polyethylene with a specific gravity of less than X, in primary forms soared to $X in 2021. The total import value increased at an average annual rate of +3.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) was the key importer of polyethylene with a specific gravity of less than X, in primary forms, comprising 37% of total imports. Singapore (X tons) held the second position in the ranking, followed by Vietnam (X tons), India (X tons), Indonesia (X tons) and Malaysia (X tons). All these countries together took approx. 41% share of total imports. The following importers - Pakistan (X tons), Taiwan (Chinese) (X tons), Thailand (X tons), Bangladesh (X tons) and South Korea (X tons) - together made up 16% of total imports.

Imports into China increased at an average annual rate of +7.7% from 2012 to 2021. At the same time, Pakistan (+10.0%), Bangladesh (+9.7%), Vietnam (+8.2%), South Korea (+7.5%), Indonesia (+3.6%), Malaysia (+3.4%), Thailand (+3.2%) and Taiwan (Chinese) (+1.6%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +10.0% from 2012-2021. Singapore experienced a relatively flat trend pattern. By contrast, India (-2.0%) illustrated a downward trend over the same period. China (+9.1 p.p.), Vietnam (+3 p.p.) and Pakistan (+1.6 p.p.) significantly strengthened its position in terms of the total imports, while Singapore and India saw its share reduced by -3.8% and -6.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported polyethylene with a specific gravity of less than X, in primary forms in Asia-Pacific, comprising 39% of total imports. The second position in the ranking was held by Vietnam ($X), with a 9.9% share of total imports. It was followed by India, with an 8.5% share.

In China, imports of polyethylene with a specific gravity of less than X, in primary forms increased at an average annual rate of +7.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Vietnam (+7.0% per year) and India (-1.9% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, growing by 35% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+0.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :