Bangladesh: Market for Polyethylene in Primary Forms 2024

Market Size for Polyethylene in Primary Forms in Bangladesh

The Bangladeshi polyethylene in primary forms market soared to $X in 2021, picking up by 27% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Polyethylene in primary forms consumption peaked in 2021 and is expected to retain growth in years to come.

Exports of Polyethylene in Primary Forms

Exports from Bangladesh

In 2021, overseas shipments of polyethylene in primary forms decreased by -29.5% to X tons, falling for the second consecutive year after three years of growth. In general, exports recorded a abrupt downturn. The pace of growth appeared the most rapid in 2017 when exports increased by 1,499% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, polyethylene in primary forms exports dropped rapidly to $X in 2021. Overall, exports recorded a abrupt decrease. The most prominent rate of growth was recorded in 2015 with an increase of 1,148% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

India (X tons) was the main destination for polyethylene in primary forms exports from Bangladesh, with a 89% share of total exports. Moreover, polyethylene in primary forms exports to India exceeded the volume sent to the second major destination, Germany (X tons), more than tenfold. The third position in this ranking was taken by South Africa (X tons), with a 5.5% share.

From 2012 to 2021, the average annual growth rate of volume to India totaled -6.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-1.3% per year) and South Africa (0.0% per year).

In value terms, India ($X), Germany ($X) and South Africa ($X) appeared to be the largest markets for polyethylene in primary forms exported from Bangladesh worldwide, with a combined 97% share of total exports.

Germany, with a CAGR of +3.4%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average polyethylene in primary forms export price amounted to $X per ton, picking up by 19% against the previous year. Over the period under review, the export price posted modest growth. The most prominent rate of growth was recorded in 2014 an increase of 140% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+20.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Polyethylene in Primary Forms

Imports into Bangladesh

In 2021, purchases abroad of polyethylene in primary forms increased by 0.9% to X tons, rising for the fourth consecutive year after two years of decline. Over the period under review, total imports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +7.2% 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 increased by +34.7% against 2017 indices. The growth pace was the most rapid in 2015 when imports increased by 63% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the near future.

In value terms, polyethylene in primary forms imports surged to $X in 2021. In general, total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 when imports increased by 57%. Imports peaked in 2021 and are likely to see steady growth in years to come.

Imports by Country

In 2021, Saudi Arabia (X tons) constituted the largest polyethylene in primary forms supplier to Bangladesh, accounting for a 31% share of total imports. Moreover, polyethylene in primary forms imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, Qatar (X tons), twofold. The third position in this ranking was held by Taiwan (Chinese) (X tons), with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from Saudi Arabia totaled +5.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Qatar (+3.3% per year) and Taiwan (Chinese) (+20.2% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of polyethylene in primary forms to Bangladesh, comprising 29% of total imports. The second position in the ranking was held by Qatar ($X), with a 13% share of total imports. It was followed by Taiwan (Chinese), with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Saudi Arabia totaled +3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Qatar (+1.3% per year) and Taiwan (Chinese) (+17.7% per year).

Import Prices by Country

The average polyethylene in primary forms import price stood at $X per ton in 2021, growing by 37% against the previous year. Overall, the import price, however, continues to indicate a slight descent. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were the United Arab Emirates ($X per ton) and South Korea ($X per ton), while the price for Saudi Arabia ($X per ton) and India ($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 (-0.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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