Asia: Market for Pure Polyvinyl Chloride in Primary Forms 2024

Market Size for Pure Polyvinyl Chloride in Primary Forms in Asia

The Asian market for pure polyvinyl chloride in primary forms contracted to $X in 2022, which is down by -6.3% against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Pure Polyvinyl Chloride in Primary Forms in Asia

In value terms, production of pure polyvinyl chloride in primary forms reduced to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 20%. As a result, production attained the peak level of $X, and then fell in the following year.

Exports of Pure Polyvinyl Chloride in Primary Forms

Exports in Asia

In 2022, overseas shipments of pure polyvinyl chloride in primary forms increased by 6.4% to X tons, rising for the third year in a row after two years of decline. Total exports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +7.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +44.2% against 2019 indices. The pace of growth was the most pronounced in 2021 with an increase of 30%. Over the period under review, the exports of attained the maximum in 2022 and are likely to see steady growth in years to come.

In value terms, exports of pure polyvinyl chloride in primary forms dropped to $X in 2022. Overall, exports continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2021 with an increase of 101% against the previous year. As a result, the exports reached the peak of $X, and then reduced in the following year.

Exports by Country

In 2022, China (X tons), distantly followed by Taiwan (Chinese) (X tons), Japan (X tons), South Korea (X tons), Thailand (X tons) and Indonesia (X tons) represented the largest exporters of pure polyvinyl chloride in primary forms, together constituting 93% of total exports. Saudi Arabia (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 leading exporting countries, was attained by China (with a CAGR of +18.0%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), Taiwan (Chinese) ($X) and Japan ($X) were the countries with the highest levels of exports in 2022, with a combined 67% share of total exports. South Korea, Indonesia, Thailand and Saudi Arabia lagged somewhat behind, together accounting for a further 27%.

Indonesia, with a CAGR of +22.3%, recorded the highest rates of growth with regard to the value of exports, in terms of 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

In 2022, the export price in Asia amounted to $X per ton, falling by -12% against the previous year. Export price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for pure polyvinyl chloride in primary forms increased by +37.8% against 2019 indices. The growth pace was the most rapid in 2021 an increase of 55%. As a result, the export price reached the peak level of $X per ton, and then declined in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Indonesia ($X per ton) and Saudi Arabia ($X per ton), while Thailand ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+4.6%), while the other leaders experienced more modest paces of growth.

Imports of Pure Polyvinyl Chloride in Primary Forms

Imports in Asia

In 2022, purchases abroad of pure polyvinyl chloride in primary forms decreased by -1.5% to X tons, falling for the third year in a row after six years of growth. Total imports indicated a perceptible increase from 2012 to 2022: its volume increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -6.8% against 2019 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 27%. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, imports of pure polyvinyl chloride in primary forms reduced to $X in 2022. Overall, imports, however, showed resilient growth. The pace of growth appeared the most rapid in 2021 when imports increased by 55% against the previous year. As a result, imports reached the peak of $X, and then contracted in the following year.

Imports by Country

India represented the largest importer of pure polyvinyl chloride in primary forms in Asia, with the volume of imports finishing at X tons, which was near 35% of total imports in 2022. Turkey (X tons) held a 16% share (based on physical terms) of total imports, which put it in second place, followed by Vietnam (9.6%), China (8.2%) and Bangladesh (6.2%). The United Arab Emirates (X tons), Malaysia (X tons) and Cambodia (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to pure polyvinyl chloride in primary forms imports into India stood at +37.7%. At the same time, Cambodia (+56.2%), Vietnam (+17.4%), Bangladesh (+9.8%), Malaysia (+4.8%) and the United Arab Emirates (+4.4%) displayed positive paces of growth. Moreover, Cambodia emerged as the fastest-growing importer imported in Asia, with a CAGR of +56.2% from 2012-2022. Turkey experienced a relatively flat trend pattern. By contrast, China (-8.4%) illustrated a downward trend over the same period. India (+33 p.p.), Vietnam (+6.5 p.p.), Bangladesh (+2.3 p.p.) and Cambodia (+1.5 p.p.) significantly strengthened its position in terms of the total imports, while Turkey and China saw its share reduced by -8% and -23.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest pure polyvinyl chloride in primary forms importing markets in Asia were India ($X), Turkey ($X) and Vietnam ($X), with a combined 63% share of total imports. China, Bangladesh, the United Arab Emirates, Malaysia and Cambodia lagged somewhat behind, together comprising a further 21%.

Cambodia, with a CAGR of +55.4%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, reducing by -7.3% against the previous year. Import price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for pure polyvinyl chloride in primary forms increased by +48.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the import price increased by 60% against the previous year. As a result, import price attained the peak level of $X per ton, and then shrank in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+4.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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