Asia: Market for Polystyrene In Primary Forms (Excluding Expansible Polystyrene) 2025

Market Size for Polystyrene In Primary Forms (Excluding Expansible Polystyrene) in Asia

In 2021, the Asian polystyrene in primary forms market increased by 1.7% to $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +3.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Production of Polystyrene In Primary Forms (Excluding Expansible Polystyrene) in Asia

In value terms, polystyrene in primary forms production amounted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.1% 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 2017 with an increase of 17% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Exports of Polystyrene In Primary Forms (Excluding Expansible Polystyrene)

Exports in Asia

In 2021, shipments abroad of polystyrene in primary forms (excluding expansible polystyrene) decreased by -4.1% to X tons, falling for the second year in a row after three years of growth. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when exports increased by 17%. The volume of export peaked at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, polystyrene in primary forms exports surged to $X in 2021. Over the period under review, exports showed a mild curtailment. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Taiwan (Chinese) (X tons), distantly followed by Hong Kong SAR (X tons), Malaysia (X tons), South Korea (X tons), Japan (X tons), Thailand (X tons), Saudi Arabia (X tons), Iran (X tons) and Singapore (X tons) represented the main exporters of polystyrene in primary forms (excluding expansible polystyrene), together achieving 85% of total exports.

From 2012 to 2021, the biggest increases were recorded for Iran (with a CAGR of +57.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest polystyrene in primary forms supplying countries in Asia were Taiwan (Chinese) ($X), Hong Kong SAR ($X) and Malaysia ($X), together accounting for 47% of total exports. These countries were followed by South Korea, Japan, Singapore, Saudi Arabia, Iran and Thailand, which together accounted for a further 37%.

Among the main exporting countries, Iran, with a CAGR of +59.1%, 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 more modest paces of growth.

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, with an increase of 32% against the previous year. In general, the export price, however, saw a pronounced reduction. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iran (+1.0%), while the other leaders experienced mixed trends in the export price figures.

Imports of Polystyrene In Primary Forms (Excluding Expansible Polystyrene)

Imports in Asia

In 2021, after four years of growth, there was significant decline in purchases abroad of polystyrene in primary forms (excluding expansible polystyrene), when their volume decreased by -5.7% to X tons. The total import volume increased at an average annual rate of +1.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 when imports increased by 20% against the previous year. The volume of import peaked at X tons in 2020, and then contracted in the following year.

In value terms, polystyrene in primary forms imports surged to $X in 2021. Over the period under review, imports recorded a slight downturn. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

China prevails in imports structure, resulting at X tons, which was near 56% of total imports in 2021. Malaysia (X tons) held the second position in the ranking, followed by Vietnam (X tons) and Turkey (X tons). All these countries together took approx. 22% share of total imports. Hong Kong SAR (X tons), Indonesia (X tons), Bangladesh (X tons), the Philippines (X tons), India (X tons), Thailand (X tons) and the United Arab Emirates (X tons) took a relatively small share of total imports.

Imports into China increased at an average annual rate of +3.0% from 2012 to 2021. At the same time, the Philippines (+14.3%), India (+13.6%), Malaysia (+13.2%), Bangladesh (+11.0%), the United Arab Emirates (+8.0%), Thailand (+5.9%) and Vietnam (+5.4%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in Asia, with a CAGR of +14.3% from 2012-2021. Indonesia experienced a relatively flat trend pattern. By contrast, Turkey (-8.7%) and Hong Kong SAR (-11.9%) illustrated a downward trend over the same period. While the share of China (+8.6 p.p.), Malaysia (+6.4 p.p.) and Vietnam (+1.9 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Hong Kong SAR (-7.9 p.p.) and Turkey (-9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported polystyrene in primary forms (excluding expansible polystyrene) in Asia, comprising 54% of total imports. The second position in the ranking was held by Turkey ($X), with a 7.7% share of total imports. It was followed by Vietnam, with a 6.6% share.

In China, polystyrene in primary forms imports remained relatively stable over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Turkey (-8.9% per year) and Vietnam (+3.1% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, growing by 32% against the previous year. Over the period under review, the import price, however, recorded a perceptible shrinkage. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Thailand ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+2.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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