Eastern Asia: Plaster Article Market 2024

Plaster Article Market Size in Eastern Asia

After three years of growth, the East Asian plaster article market decreased by -0.9% to $X in 2021. The market value increased at an average annual rate of +4.5% 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 hit record highs at $X in 2020, and then shrank modestly in the following year.

Plaster Article Production in Eastern Asia

In value terms, plaster article production shrank modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 when the production volume increased by 17% against the previous year. Over the period under review, production reached the peak level at $X in 2020, and then dropped in the following year.

Plaster Article Exports

Exports in Eastern Asia

In 2021, overseas shipments of articles of plaster or of compositions based on plaster decreased by -10.7% to X tons, falling for the sixth year in a row after four years of growth. In general, exports continue to indicate a perceptible slump. The most prominent rate of growth was recorded in 2013 when exports increased by 13% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, plaster article exports dropped slightly to $X in 2021. Over the period under review, exports showed a slight setback. The pace of growth was the most pronounced in 2013 with an increase of 17%. The level of export peaked at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China prevails in exports structure, recording X tons, which was near 88% of total exports in 2021. It was distantly followed by Japan (X tons), mixing up an 8.5% share of total exports. Taiwan (Chinese) (X tons) took a little share of total exports.

Exports from China decreased at an average annual rate of -3.7% from 2012 to 2021. At the same time, Japan (+13.0%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +13.0% from 2012-2021. By contrast, Taiwan (Chinese) (-2.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Japan increased by +6.3 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest plaster article supplier in Eastern Asia, comprising 91% of total exports. The second position in the ranking was taken by Japan ($X), with a 4.4% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in China totaled -1.6%. In the other countries, the average annual rates were as follows: Japan (-0.8% per year) and Taiwan (Chinese) (+10.0% per year).

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, with an increase of 10% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.5%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Taiwan (Chinese) ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+12.7%), while the other leaders experienced mixed trends in the export price figures.

Plaster Article Imports

Imports in Eastern Asia

After two years of decline, supplies from abroad of articles of plaster or of compositions based on plaster increased by 35% to X tons in 2021. Total imports indicated a measured expansion from 2012 to 2021: its volume increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 with an increase of 49% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2021, the growth of imports remained at a lower figure.

In value terms, plaster article imports rose remarkably to $X in 2021. Total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +31.3% against 2017 indices. The pace of growth was the most pronounced in 2015 with an increase of 25%. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Hong Kong SAR was the major importing country with an import of about X tons, which recorded 57% of total imports. Taiwan (Chinese) (X tons) took the second position in the ranking, distantly followed by South Korea (X tons), Macao SAR (X tons) and China (X tons). All these countries together held approx. 42% share of total imports.

Imports into Hong Kong SAR increased at an average annual rate of +3.6% from 2012 to 2021. At the same time, South Korea (+11.0%) and Taiwan (Chinese) (+9.8%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +11.0% from 2012-2021. China experienced a relatively flat trend pattern. By contrast, Macao SAR (-3.2%) illustrated a downward trend over the same period. Taiwan (Chinese) (+7.9 p.p.) and South Korea (+4.4 p.p.) significantly strengthened its position in terms of the total imports, while China, Hong Kong SAR and Macao SAR saw its share reduced by -2.9%, -3.5% and -5.1% from 2012 to 2021, respectively.

In value terms, Hong Kong SAR ($X) constitutes the largest market for imported articles of plaster or of compositions based on plaster in Eastern Asia, comprising 47% of total imports. The second position in the ranking was taken by South Korea ($X), with an 18% share of total imports. It was followed by China, with a 15% share.

In Hong Kong SAR, plaster article imports increased at an average annual rate of +5.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: South Korea (+8.1% per year) and China (+4.9% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, falling by -15.4% against the previous year. Over the last nine years, it increased at an average annual rate of +1.0%. The growth pace was the most rapid in 2020 when the import price increased by 26%. As a result, import price reached the peak level of $X per ton, and then reduced rapidly in the following year.

Prices varied noticeably country of destination: the country with the highest price was China ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+5.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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