China: Expansible Polystyrene Market 2024

Expansible Polystyrene Market Size in China

In 2021, the Chinese expansible polystyrene market was finally on the rise to reach $X after two years of decline. In general, consumption, however, continues to indicate a pronounced slump. Expansible polystyrene consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Expansible Polystyrene Production in China

In value terms, expansible polystyrene production amounted to $X in 2021 estimated in export price. Overall, production, however, showed a perceptible decline. Expansible polystyrene production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Expansible Polystyrene Exports

Exports from China

In 2021, overseas shipments of expansible polystyrene in primary forms decreased by -10.1% to X tons, falling for the third year in a row after two years of growth. Overall, exports continue to indicate a drastic downturn. The pace of growth was the most pronounced in 2017 when exports increased by 25%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, expansible polystyrene exports soared to $X in 2021. Over the period under review, exports showed a abrupt descent. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Vietnam (X tons), South Korea (X tons) and Chile (X tons) were the main destinations of expansible polystyrene exports from China, with a combined 34% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +51.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for expansible polystyrene exported from China were Vietnam ($X), South Korea ($X) and Chile ($X), together accounting for 34% of total exports.

Vietnam, with a CAGR of +48.8%, saw the highest growth rate of 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 expansible polystyrene export price amounted to $X per ton, rising by 53% against the previous year. Overall, the export price, however, saw a mild contraction. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Russia ($X per ton) and Ukraine ($X per ton), while the average price for exports to Brazil ($X per ton) and Algeria ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (-0.9%), while the prices for the other major destinations experienced a decline.

Expansible Polystyrene Imports

Imports into China

In 2021, the amount of expansible polystyrene in primary forms imported into China contracted notably to X tons, waning by -20.5% on the previous year. Overall, imports saw a deep setback. The most prominent rate of growth was recorded in 2018 when imports increased by 237%. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, expansible polystyrene imports amounted to $X in 2021. Over the period under review, imports continue to indicate a deep reduction. The pace of growth appeared the most rapid in 2018 when imports increased by 114% against the previous year. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

The United States (X tons), South Korea (X tons) and Japan (X tons) were the main suppliers of expansible polystyrene imports to China, together comprising 64% of total imports. These countries were followed by Austria, Mexico, Canada, Germany, Thailand and Malaysia, which together accounted for a further 17%.

From 2012 to 2021, the biggest increases were recorded for Mexico (with a CAGR of +37.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of expansible polystyrene in primary forms to China, comprising 51% of total imports. The second position in the ranking was taken by South Korea ($X), with a 14% share of total imports. It was followed by Japan, with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States stood at +11.1%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-13.6% per year) and Japan (-1.7% per year).

Import Prices by Country

The average expansible polystyrene import price stood at $X per ton in 2021, increasing by 43% against the previous year. Over the period under review, import price indicated a moderate expansion from 2012 to 2021: its price increased at an average annual rate of +2.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, expansible polystyrene import price increased by +58.0% against 2018 indices. The pace of growth appeared the most rapid in 2017 an increase of 50% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; afterwards, it flattened through to 2021.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Germany ($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 United States (+2.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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