Asia-Pacific: Market for Polystyrene In Primary Forms (Excluding Expansible Polystyrene) 2025

Market Size for Polystyrene In Primary Forms (Excluding Expansible Polystyrene) in Asia-Pacific

In 2021, after two years of decline, there was growth in the Asia-Pacific polystyrene in primary forms market, when its value increased by 0.3% to $X. The market value increased at an average annual rate of +3.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Production of Polystyrene In Primary Forms (Excluding Expansible Polystyrene) in Asia-Pacific

In value terms, polystyrene in primary forms production reached $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.9% from 2012 to 2021; 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 2017 when the production volume increased by 16%. The level of production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Exports of Polystyrene In Primary Forms (Excluding Expansible Polystyrene)

Exports in Asia-Pacific

In 2021, overseas shipments of polystyrene in primary forms (excluding expansible polystyrene) decreased by -4.6% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when exports increased by 21% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, polystyrene in primary forms exports skyrocketed to $X in 2021. Overall, exports saw a perceptible setback. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Taiwan (Chinese) (X tons), distantly followed by Hong Kong SAR (X tons), Malaysia (X tons), South Korea (X tons), Japan (X tons), Thailand (X tons) and Singapore (X tons) were the key exporters of polystyrene in primary forms (excluding expansible polystyrene), together making up 86% of total exports.

From 2012 to 2021, the biggest increases were recorded for Malaysia (with a CAGR of +18.9%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest polystyrene in primary forms supplying countries in Asia-Pacific were Taiwan (Chinese) ($X), Hong Kong SAR ($X) and Malaysia ($X), with a combined 55% share of total exports.

Malaysia, with a CAGR of +11.9%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per ton, rising by 29% against the previous year. Over the period under review, the export price, however, showed a pronounced setback. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

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

Imports of Polystyrene In Primary Forms (Excluding Expansible Polystyrene)

Imports in Asia-Pacific

In 2021, supplies from abroad of polystyrene in primary forms (excluding expansible polystyrene) decreased by -5.9% to X tons for the first time since 2016, thus ending a four-year rising trend. Total imports indicated a pronounced expansion from 2012 to 2021: its volume increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 31% against the previous year. The volume of import peaked at X tons in 2020, and then fell in the following year.

In value terms, polystyrene in primary forms imports skyrocketed to $X in 2021. Over the period under review, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 29%. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

China represented the key importing country with an import of about X tons, which recorded 62% of total imports. It was distantly followed by Malaysia (X tons) and Vietnam (X tons), together generating an 18% share of total imports. Hong Kong SAR (X tons), Indonesia (X tons), Bangladesh (X tons) and the Philippines (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to polystyrene in primary forms imports into China stood at +3.0%. At the same time, the Philippines (+14.3%), Malaysia (+13.2%), Bangladesh (+11.0%) and Vietnam (+5.4%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +14.3% from 2012-2021. Indonesia experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (-11.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Malaysia, China, Vietnam and the Philippines increased by +6.7, +3, +1.5 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported polystyrene in primary forms (excluding expansible polystyrene) in Asia-Pacific, comprising 63% of total imports. The second position in the ranking was held by Vietnam ($X), with a 7.7% share of total imports. It was followed by Malaysia, with a 5.7% share.

In China, polystyrene in primary forms imports remained relatively stable over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Vietnam (+3.1% per year) and Malaysia (+2.2% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, increasing by 29% against the previous year. In general, the import price, however, recorded a pronounced descent. Over the period under review, import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, 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 the Philippines (+2.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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