Asia: Market for Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms 2024

Market Size for Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms in Asia

The Asian market for polyethylene terephthalate and other polyethylene terephthalate in primary forms reduced to $X in 2022, shrinking by -3.1% against the previous year. In general, consumption saw a noticeable decrease. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Production of Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms in Asia

In value terms, production of polyethylene terephthalate and other polyethylene terephthalate in primary forms dropped modestly to $X in 2022 estimated in export price. In general, production continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2013 when the production volume increased by 21%. As a result, production reached the peak level of $X. From 2014 to 2022, production of growth remained at a lower figure.

Exports of Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms

Exports in Asia

After five years of decline, shipments abroad of polyethylene terephthalate and other polyethylene terephthalate in primary forms increased by 22% to X tons in 2022. Overall, exports, however, continue to indicate a significant contraction. The volume of export peaked at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, exports of polyethylene terephthalate and other polyethylene terephthalate in primary forms soared to $X in 2022. Over the period under review, exports, however, faced a precipitous descent. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, South Korea (X tons), distantly followed by India (X tons), Iran (X tons), Oman (X tons), Indonesia (X tons) and Vietnam (X tons) were the key exporters of polyethylene terephthalate and other polyethylene terephthalate in primary forms, together creating 91% of total exports. Taiwan (Chinese) (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Vietnam (with a CAGR of +3.1%), while the other leaders experienced a decline in the exports figures.

In value terms, the largest polyethylene terephthalate and other polyethylene terephthalate in primary forms supplying countries in Asia were South Korea ($X), India ($X) and Iran ($X), together comprising 70% of total exports. Oman, Indonesia, Vietnam and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 24%.

Among the main exporting countries, Vietnam, with a CAGR of -1.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, dropping by -2.2% against the previous year. In general, the export price continues to indicate a abrupt setback. The pace of growth was the most pronounced in 2018 an increase of 15%. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Taiwan (Chinese) ($X per ton) and India ($X per ton), while South Korea ($X per ton) and Iran ($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 (-3.8%), while the other leaders experienced a decline in the export price figures.

Imports of Polyethylene Terephthalate And Other Polyethylene Terephthalate In Primary Forms

Imports in Asia

In 2022, supplies from abroad of polyethylene terephthalate and other polyethylene terephthalate in primary forms decreased by -4.1% to X tons for the first time since 2017, thus ending a four-year rising trend. In general, imports continue to indicate a perceptible setback. The pace of growth was the most pronounced in 2014 when imports increased by 13%. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of polyethylene terephthalate and other polyethylene terephthalate in primary forms fell to $X in 2022. Over the period under review, imports recorded a abrupt decrease. The pace of growth was the most pronounced in 2013 when imports increased by 11%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports of remained at a somewhat lower figure.

Imports by Country

Vietnam (X tons) and Indonesia (X tons) represented roughly 53% of total imports in 2022. Bangladesh (X tons) took an 11% share (based on physical terms) of total imports, which put it in second place, followed by Iran (9.3%) and South Korea (5.5%). Taiwan (Chinese) (X tons), Kazakhstan (X tons), Saudi Arabia (X tons), Hong Kong SAR (X tons) and Pakistan (X tons) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Pakistan (with a CAGR of +22.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Indonesia ($X) and Bangladesh ($X) constituted the countries with the highest levels of imports in 2022, with a combined 59% share of total imports. Iran, South Korea, Taiwan (Chinese), Hong Kong SAR, Kazakhstan, Saudi Arabia and Pakistan lagged somewhat behind, together accounting for a further 28%.

Among the main importing countries, Pakistan, with a CAGR of +15.3%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, with an increase of 2.4% against the previous year. Overall, the import price, however, saw a abrupt slump. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (-2.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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