Asia-Pacific: Polyvinyl Chloride Market 2024

Polyvinyl Chloride Market Size in Asia-Pacific

In 2022, the Asia-Pacific polyvinyl chloride market decreased by -2% to $X for the first time since 2019, thus ending a two-year rising trend. The total consumption indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +4.4% 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 +72.9% against 2015 indices. As a result, consumption attained the peak level of $X, and then contracted slightly in the following year.

Polyvinyl Chloride Production in Asia-Pacific

In value terms, polyvinyl chloride production fell to $X in 2022 estimated in export price. The total production indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +57.0% against 2015 indices. The pace of growth appeared the most rapid in 2021 with an increase of 30%. As a result, production attained the peak level of $X, and then reduced in the following year.

Polyvinyl Chloride Exports

Exports in Asia-Pacific

In 2022, overseas shipments of polyvinyl chloride increased by 6.7% to X tons, rising for the third consecutive year after two years of decline. Total exports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +42.4% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 27% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, polyvinyl chloride exports shrank to $X in 2022. Over the period under review, exports enjoyed a buoyant increase. The pace of growth was the most pronounced in 2021 when exports increased by 88%. As a result, the exports reached the peak of $X, and then declined slightly in the following year.

Exports by Country

In 2022, China (X tons) was the main exporter of polyvinyl chloride, committing 40% of total exports. Taiwan (Chinese) (X tons) held a 21% share (based on physical terms) of total exports, which put it in second place, followed by Japan (9.9%), South Korea (9.3%), Thailand (8.3%) and Indonesia (6.3%).

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +18.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the largest polyvinyl chloride supplier in Asia-Pacific, comprising 41% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 19% share of total exports. It was followed by Japan, with a 9.6% share.

In China, polyvinyl chloride exports expanded at an average annual rate of +20.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (+3.5% per year) and Japan (+7.7% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, with a decrease of -9.2% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The growth pace was the most rapid in 2021 an increase of 48%. As a result, the export price attained the peak level of $X per ton, and then shrank in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Indonesia ($X per ton) and China ($X per ton), while Taiwan (Chinese) ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+3.7%), while the other leaders experienced more modest paces of growth.

Polyvinyl Chloride Imports

Imports in Asia-Pacific

In 2022, purchases abroad of polyvinyl chloride increased by 2.4% to X tons for the first time since 2019, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 14%. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, polyvinyl chloride imports reduced to $X in 2022. Total imports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.1% 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 +31.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 36% against the previous year. As a result, imports reached the peak of $X, and then declined in the following year.

Imports by Country

India was the key importing country with an import of about X tons, which finished at 44% of total imports. China (X tons) took the second position in the ranking, followed by Vietnam (X tons), Bangladesh (X tons), Australia (X tons) and Malaysia (X tons). All these countries together took near 40% share of total imports. Cambodia (X tons) took a minor share of total imports.

Imports into India increased at an average annual rate of +5.4% from 2012 to 2022. At the same time, Cambodia (+29.5%), Vietnam (+13.8%), Australia (+12.3%), Bangladesh (+10.2%) and Malaysia (+4.3%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +29.5% from 2012-2022. By contrast, China (-8.2%) illustrated a downward trend over the same period. India (+11 p.p.), Vietnam (+6.8 p.p.), Bangladesh (+4.2 p.p.), Australia (+3 p.p.) and Cambodia (+2 p.p.) significantly strengthened its position in terms of the total imports, while China saw its share reduced by -22.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported polyvinyl chloride in Asia-Pacific, comprising 45% of total imports. The second position in the ranking was held by China ($X), with a 12% share of total imports. It was followed by Vietnam, with an 8.2% share.

In India, polyvinyl chloride imports expanded at an average annual rate of +8.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (-6.2% per year) and Vietnam (+11.0% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, which is down by -5.6% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The pace of growth appeared the most rapid in 2021 when the import price increased by 49% against the previous year. As a result, import price reached the peak level of $X per ton, and then dropped in the following year.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in China ($X per ton) and India ($X per ton), while Cambodia ($X per ton) and Vietnam ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+2.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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