Asia: Polycarbonate Market 2024

Polycarbonate Market Size in Asia

The Asian polycarbonate market reduced modestly to $X in 2022, falling by -1.6% against the previous year. The market value increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Polycarbonate Production in Asia

In value terms, polycarbonate production shrank modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.8% 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 2018 when the production volume increased by 13% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Polycarbonate Exports

Exports in Asia

In 2022, shipments abroad of polycarbonates (in primary forms) decreased by -5% to X tons for the first time since 2019, thus ending a two-year rising trend. The total export volume increased at an average annual rate of +1.1% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when exports increased by 6.8%. Over the period under review, the exports hit record highs at X tons in 2021, and then dropped slightly in the following year.

In value terms, polycarbonate exports reduced dramatically to $X in 2022. The total export value increased at an average annual rate of +1.0% 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 when exports increased by 46%. As a result, the exports attained the peak of $X, and then declined markedly in the following year.

Exports by Country

In 2022, South Korea (X tons), distantly followed by Thailand (X tons), Taiwan (Chinese) (X tons), China (X tons), Saudi Arabia (X tons), Singapore (X tons) and Japan (X tons) were the main exporters of polycarbonates (in primary forms), together constituting 91% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Taiwan (Chinese) (with a CAGR of +5.5%), while the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Taiwan (Chinese) ($X) and Thailand ($X) were the countries with the highest levels of exports in 2022, with a combined 57% share of total exports.

Taiwan (Chinese), with a CAGR of +5.9%, recorded 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 more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, shrinking by -11.6% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the export price increased by 39%. As a result, the export price attained the peak level of $X per ton, and then reduced in the following year.

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 Japan ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+1.8%), while the other leaders experienced more modest paces of growth.

Polycarbonate Imports

Imports in Asia

In 2022, overseas purchases of polycarbonates (in primary forms) decreased by -6.3% to X tons, falling for the third consecutive year after three years of growth. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 7.5%. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, polycarbonate imports dropped to $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 38%. As a result, imports reached the peak of $X, and then dropped in the following year.

Imports by Country

China prevails in imports structure, amounting to X tons, which was approx. 55% of total imports in 2022. India (X tons) ranks second in terms of the total imports with an 8.7% share, followed by Vietnam (5.1%). The following importers - Taiwan (Chinese) (X tons), Singapore (X tons), Malaysia (X tons), Hong Kong SAR (X tons), South Korea (X tons), Turkey (X tons), Japan (X tons) and Indonesia (X tons) - together made up 26% of total imports.

From 2012 to 2022, average annual rates of growth with regard to polycarbonate imports into China stood at +1.3%. At the same time, Vietnam (+12.6%), India (+6.2%), Indonesia (+3.8%), Turkey (+3.7%) and Malaysia (+3.0%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in Asia, with a CAGR of +12.6% from 2012-2022. Japan experienced a relatively flat trend pattern. By contrast, South Korea (-2.1%), Taiwan (Chinese) (-5.6%), Singapore (-6.3%) and Hong Kong SAR (-13.5%) illustrated a downward trend over the same period. China (+6.6 p.p.), India (+3.9 p.p.) and Vietnam (+3.5 p.p.) significantly strengthened its position in terms of the total imports, while Taiwan (Chinese), Singapore and Hong Kong SAR saw its share reduced by -3.4%, -3.7% and -9.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported polycarbonates (in primary forms) in Asia, comprising 52% of total imports. The second position in the ranking was taken by India ($X), with an 8.7% share of total imports. It was followed by Vietnam, with a 5.3% share.

From 2012 to 2022, the average annual growth rate of value in China stood at +1.1%. The remaining importing countries recorded the following average annual rates of imports growth: India (+7.6% per year) and Vietnam (+13.7% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, falling by -3.4% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 39% against the previous year. As a result, import price attained the peak level of $X per ton, and then shrank modestly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+4.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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