Asia: Market for Polyethylene in Primary Forms 2024

Market Size for Polyethylene in Primary Forms in Asia

In 2021, the Asian polyethylene in primary forms market was finally on the rise to reach $X after two years of decline. In general, consumption saw a slight slump. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Production of Polyethylene in Primary Forms in Asia

In value terms, polyethylene in primary forms production rose markedly to $X in 2021 estimated in export price. Overall, production showed a slight setback. The level of production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Exports of Polyethylene in Primary Forms

Exports in Asia

In 2021, shipments abroad of polyethylene in primary forms decreased by -3.9% to X tons, falling for the second consecutive year after five years of growth. The total export volume 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 throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 16%. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, polyethylene in primary forms exports surged to $X in 2021. Overall, exports, however, continue to indicate a relatively flat trend pattern. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Saudi Arabia represented the largest exporting country with an export of around X tons, which recorded 35% of total exports. The United Arab Emirates (X tons) ranks second in terms of the total exports with a 12% share, followed by Iran (10%), South Korea (9.6%), Thailand (8.1%) and Singapore (7.9%). Malaysia (X tons), Taiwan (Chinese) (X tons) and Japan (X tons) took a minor share of total exports.

From 2012 to 2021, average annual rates of growth with regard to polyethylene in primary forms exports from Saudi Arabia stood at +1.5%. At the same time, the United Arab Emirates (+10.5%), Malaysia (+5.0%), Iran (+4.9%), Taiwan (Chinese) (+3.0%), Japan (+2.9%), South Korea (+2.0%) and Singapore (+1.0%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in Asia, with a CAGR of +10.5% from 2012-2021. Thailand experienced a relatively flat trend pattern. The United Arab Emirates (+6 p.p.) and Iran (+1.8 p.p.) significantly strengthened its position in terms of the total exports, while Thailand and Saudi Arabia saw its share reduced by -2.4% and -3.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest polyethylene in primary forms supplier in Asia, comprising 36% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 14% share of total exports. It was followed by Iran, with an 11% share.

In Saudi Arabia, polyethylene in primary forms exports remained relatively stable over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (+10.5% per year) and Iran (+3.9% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, jumping by 40% against the previous year. Overall, the export price, however, showed a slight slump. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Singapore ($X per ton) and the United Arab Emirates ($X per ton), while Taiwan (Chinese) ($X per ton) and Japan ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-0.0%), while the other leaders experienced a decline in the export price figures.

Imports of Polyethylene in Primary Forms

Imports in Asia

In 2021, overseas purchases of polyethylene in primary forms decreased by -12% to X tons for the first time since 2016, thus ending a four-year rising trend. Total imports indicated moderate growth from 2012 to 2021: its volume increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 19%. Over the period under review, imports attained the maximum at X tons in 2020, and then reduced in the following year.

In value terms, polyethylene in primary forms imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.8% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

China was the major importer of polyethylene in primary forms in Asia, with the volume of imports resulting at X tons, which was near 43% of total imports in 2021. Turkey (X tons) held an 8.9% share (based on physical terms) of total imports, which put it in second place, followed by Vietnam (7.7%), India (6.2%) and Singapore (6.2%). Malaysia (X tons), Indonesia (X tons), the United Arab Emirates (X tons), Pakistan (X tons) and Taiwan (Chinese) (X tons) held a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to polyethylene in primary forms imports into China stood at +6.3%. At the same time, the United Arab Emirates (+10.9%), Vietnam (+10.7%), Pakistan (+9.6%), Malaysia (+5.7%), Turkey (+5.1%), Indonesia (+4.0%) and Taiwan (Chinese) (+1.5%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in Asia, with a CAGR of +10.9% from 2012-2021. India and Singapore experienced a relatively flat trend pattern. From 2012 to 2021, the share of China and Vietnam increased by +6.4 and +3.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported polyethylene in primary forms in Asia, comprising 42% of total imports. The second position in the ranking was taken by Turkey ($X), with a 10% share of total imports. It was followed by Vietnam, with a 7.4% share.

In China, polyethylene in primary forms imports increased at an average annual rate of +4.7% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Turkey (+3.5% per year) and Vietnam (+8.8% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2021, rising by 34% against the previous year. Overall, the import price, however, saw a slight slump. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Turkey ($X per ton) and Taiwan (Chinese) ($X per ton), while Singapore ($X per ton) and Malaysia ($X per ton) were 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

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