Asia: Market for Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms 2024

Market Size for Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms in Asia

The Asian market for polyethylene with a specific gravity of less than X, in primary forms fell to $X in 2021, shrinking by -11.2% against the previous year. The market value increased at an average annual rate of +2.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2020, and then shrank in the following year.

Production of Polyethylene with a Specific Gravity of Less than X, in Primary Forms in Asia

In value terms, production of polyethylene with a specific gravity of less than X, in primary forms dropped slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.2% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 15% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Exports of Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms

Exports in Asia

In 2021, shipments abroad of polyethylene with a specific gravity of less than X, in primary forms decreased by -1.5% to X tons, falling for the third consecutive year after four years of growth. The total export volume increased at an average annual rate of +2.4% 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 32%. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, exports of polyethylene with a specific gravity of less than X, in primary forms soared to $X in 2021. The total export value increased at an average annual rate of +1.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the exports of reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia was the major exporter of polyethylene with a specific gravity of less than X, in primary forms in Asia, with the volume of exports accounting for X tons, which was approx. 41% of total exports in 2021. Singapore (X tons) held the second position in the ranking, followed by Iran (X tons), the United Arab Emirates (X tons), Thailand (X tons), South Korea (X tons) and Malaysia (X tons). All these countries together held near 47% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to polyethylene with a specific gravity of less than X exports from Saudi Arabia stood at +2.5%. At the same time, the United Arab Emirates (+12.6%), Iran (+4.0%), Malaysia (+3.7%) and Singapore (+2.0%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in Asia, with a CAGR of +12.6% from 2012-2021. South Korea experienced a relatively flat trend pattern. By contrast, Thailand (-2.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United Arab Emirates increased by +4.6 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest polyethylene with a specific gravity of less than X supplier in Asia, comprising 38% of total exports. The second position in the ranking was held by Singapore ($X), with an 11% share of total exports. It was followed by Iran, with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Saudi Arabia was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (+2.2% per year) and Iran (+4.6% per year).

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, increasing by 44% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. Over the period under review, the export prices attained the peak figure 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 the United Arab Emirates ($X per ton) and South Korea ($X per ton), while Saudi Arabia ($X per ton) and Thailand ($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 (+1.2%), while the other leaders experienced more modest paces of growth.

Imports of Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms

Imports in Asia

In 2021, purchases abroad of polyethylene with a specific gravity of less than X, in primary forms decreased by -3.2% to X tons, falling for the second year in a row after three years of growth. Total imports indicated a notable increase from 2012 to 2021: its volume increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -7.2% against 2019 indices. The growth pace was the most rapid in 2018 when imports increased by 14% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, imports of polyethylene with a specific gravity of less than X, in primary forms soared to $X in 2021. The total import value increased at an average annual rate of +3.7% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) represented the largest importer of polyethylene with a specific gravity of less than X, in primary forms, committing 30% of total imports. Turkey (X tons) ranks second in terms of the total imports with an 11% share, followed by Singapore (8.6%), Vietnam (8.6%), India (6.7%), Indonesia (4.7%) and Malaysia (4.5%). The following importers - the United Arab Emirates (X tons), Pakistan (X tons), Taiwan (Chinese) (X tons), Thailand (X tons), Bangladesh (X tons) and South Korea (X tons) - together made up 17% of total imports.

Imports into China increased at an average annual rate of +7.7% from 2012 to 2021. At the same time, the United Arab Emirates (+11.5%), Pakistan (+10.0%), Bangladesh (+9.7%), Vietnam (+8.2%), Turkey (+7.7%), South Korea (+7.5%), Indonesia (+3.6%), Malaysia (+3.4%), Thailand (+3.2%) and Taiwan (Chinese) (+1.6%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in Asia, with a CAGR of +11.5% from 2012-2021. Singapore experienced a relatively flat trend pattern. By contrast, India (-2.0%) illustrated a downward trend over the same period. China (+7.2 p.p.), Turkey (+2.6 p.p.), Vietnam (+2.4 p.p.) and the United Arab Emirates (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while Singapore and India saw its share reduced by -3.2% and -5.1% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported polyethylene with a specific gravity of less than X, in primary forms in Asia, comprising 31% of total imports. The second position in the ranking was held by Turkey ($X), with a 12% share of total imports. It was followed by Vietnam, with a 7.9% share.

From 2012 to 2021, the average annual growth rate of value in China stood at +7.5%. In the other countries, the average annual rates were as follows: Turkey (+6.2% per year) and Vietnam (+7.0% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2021, picking up by 37% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a 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 South Korea ($X per ton), while Singapore ($X per ton) was 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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