Bangladesh: Ethylene Polymer Bag Market 2024

Ethylene Polymer Bag Market Size in Bangladesh

The Bangladeshi ethylene polymer bag market shrank to $X in 2022, with a decrease of -8% against the previous year. In general, consumption saw a slight decline. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Ethylene Polymer Bag Production in Bangladesh

In value terms, ethylene polymer bag production declined to $X in 2022 estimated in export price. Overall, production showed a slight decrease. The pace of growth was the most pronounced in 2018 with an increase of 30% against the previous year. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Ethylene Polymer Bag Exports

Exports from Bangladesh

In 2022, approx. X tons of sacks and bags of polymers of ethylene were exported from Bangladesh; declining by -2.9% on the previous year. Over the period under review, total exports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of +3.8% 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 +2.8% against 2020 indices. The pace of growth was the most pronounced in 2013 with an increase of 95%. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, ethylene polymer bag exports shrank to $X in 2022. Overall, total exports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +2.8% 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 +9.0% against 2020 indices. The pace of growth was the most pronounced in 2013 when exports increased by 85% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X tons), Poland (X tons) and Belgium (X tons) were the main destinations of ethylene polymer bag exports from Bangladesh, with a combined 51% share of total exports. The United States, the Netherlands, Guinea, Papua New Guinea, Australia and France lagged somewhat behind, together accounting for a further 40%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Guinea (with a CAGR of +37.7%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the United States ($X) and Poland ($X) were the largest markets for ethylene polymer bag exported from Bangladesh worldwide, together comprising 64% of total exports. Belgium, the Netherlands, France, Guinea, Australia and Papua New Guinea lagged somewhat behind, together accounting for a further 26%.

Among the main countries of destination, the Netherlands, with a CAGR of +17.8%, recorded the highest growth rate of 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 2022, the average ethylene polymer bag export price amounted to $X per ton, shrinking by -4.9% against the previous year. Overall, the export price recorded a slight decline. The pace of growth appeared the most rapid in 2021 when the average export price increased by 11% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Guinea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+4.5%), while the prices for the other major destinations experienced mixed trend patterns.

Ethylene Polymer Bag Imports

Imports into Bangladesh

In 2022, the amount of sacks and bags of polymers of ethylene imported into Bangladesh shrank dramatically to X tons, waning by -26.8% compared with the previous year's figure. Over the period under review, imports, however, continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2014 with an increase of 234% against the previous year. Imports peaked at X tons in 2021, and then fell significantly in the following year.

In value terms, ethylene polymer bag imports fell notably to $X in 2022. In general, imports, however, posted a strong expansion. The pace of growth was the most pronounced in 2014 when imports increased by 337%. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of ethylene polymer bag to Bangladesh, accounting for a 60% share of total imports. Moreover, ethylene polymer bag imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), fourfold. Hong Kong SAR (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +57.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+122.3% per year) and Hong Kong SAR (+28.6% per year).

In value terms, China ($X) constituted the largest supplier of sacks and bags of polymers of ethylene to Bangladesh, comprising 62% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with an 18% share of total imports. It was followed by Vietnam, with a 9.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +45.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+18.5% per year) and Vietnam (+109.6% per year).

Import Prices by Country

The average ethylene polymer bag import price stood at $X per ton in 2022, approximately equating the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average import price increased by 31% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (-3.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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