Asia: Polyamide Market 2024

Polyamide Market Size in Asia

In 2021, the Asian polyamide market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +2.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Polyamide Production in Asia

In value terms, polyamide production reached $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.3% 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 appeared the most rapid in 2018 when the production volume increased by 18% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Polyamide Exports

Exports in Asia

In 2021, overseas shipments of polyamides (in primary forms) increased by 29% to X tons for the first time since 2018, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +3.3% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, polyamide exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +2.2% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China was the key exporter of polyamides (in primary forms) in Asia, with the volume of exports reaching X tons, which was near 31% of total exports in 2021. Taiwan (Chinese) (X tons) held the second position in the ranking, followed by South Korea (X tons), Thailand (X tons), Japan (X tons), Hong Kong SAR (X tons), Turkey (X tons), Vietnam (X tons), Malaysia (X tons) and Singapore (X tons). All these countries together held approx. 65% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to polyamide exports from China stood at +13.1%. At the same time, Turkey (+30.8%), Vietnam (+12.6%), Malaysia (+8.5%), Thailand (+6.3%), Singapore (+1.5%) and Japan (+1.1%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in Asia, with a CAGR of +30.8% from 2012-2021. South Korea experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (-1.4%) and Taiwan (Chinese) (-5.8%) illustrated a downward trend over the same period. While the share of China (+17 p.p.), Turkey (+4.7 p.p.), Vietnam (+2.7 p.p.), Thailand (+1.8 p.p.) and Malaysia (+1.7 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Japan (-1.6 p.p.), Hong Kong SAR (-3.1 p.p.), South Korea (-3.6 p.p.) and Taiwan (Chinese) (-19.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest polyamide supplier in Asia, comprising 33% of total exports. The second position in the ranking was held by Japan ($X), with a 12% share of total exports. It was followed by Taiwan (Chinese), with a 12% share.

In China, polyamide exports expanded at an average annual rate of +11.0% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (-0.5% per year) and Taiwan (Chinese) (-7.0% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, rising by 25% against the previous year. Over the period under review, the export price, however, recorded a slight reduction. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while Vietnam ($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 (+1.4%), while the other leaders experienced more modest paces of growth.

Polyamide Imports

Imports in Asia

In 2021, after two years of decline, there was significant growth in supplies from abroad of polyamides (in primary forms), when their volume increased by 22% to X tons. The total import volume increased at an average annual rate of +2.1% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, polyamide imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.7% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China represented the largest importer of polyamides (in primary forms) in Asia, with the volume of imports reaching X tons, which was near 28% of total imports in 2021. It was distantly followed by Turkey (X tons), India (X tons), Japan (X tons), South Korea (X tons), Thailand (X tons) and Hong Kong SAR (X tons), together committing a 52% share of total imports. Taiwan (Chinese) (X tons), Indonesia (X tons), Vietnam (X tons), Malaysia (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 polyamide imports into China stood at -4.0%. At the same time, the Philippines (+23.5%), Turkey (+15.2%), India (+13.4%), Vietnam (+7.1%), Thailand (+6.2%), Japan (+4.4%), South Korea (+3.2%) and Indonesia (+2.6%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in Asia, with a CAGR of +23.5% from 2012-2021. Malaysia and Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (-2.6%) illustrated a downward trend over the same period. While the share of Turkey (+8.1 p.p.), India (+7.1 p.p.), Thailand (+1.8 p.p.) and Japan (+1.6 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Hong Kong SAR (-2.5 p.p.) and China (-20.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported polyamides (in primary forms) in Asia, comprising 28% of total imports. The second position in the ranking was held by Turkey ($X), with an 11% share of total imports. It was followed by Japan, with a 10% share.

From 2012 to 2021, the average annual growth rate of value in China amounted to -3.5%. The remaining importing countries recorded the following average annual rates of imports growth: Turkey (+14.8% per year) and Japan (+2.7% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2021, increasing by 27% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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 Hong Kong SAR ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+1.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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